| Mon 1 Jun 2009, 13:10 | | NAI/NAN - New Africa Investments - Implementation and results of the odd lot |
|
NAI NAN
NAI
NAI/NAN - New Africa Investments - Implementation and results of the odd lot
offer
New Africa Investments Limited
(Registration number 1993/002467/06)
Share code: NAI and NAN
ISIN: ZAE000033338 and ZAE000033346
("NAIL" or "the company")
IMPLEMENTATION AND RESULTS OF THE ODD LOT OFFER
1. Implementation of the odd lot offer
NAIL shareholders are referred to:
* the announcement released on the Securities Exchange News service
("SENS") of the JSE Limited ("JSE") on 3 April 2009, in terms of
which they were advised that NAIL intended to make an odd lot offer
on the terms as set out in that announcement; and
* the announcement released on SENS on 30 April 2009 in terms of which
they were advised that at the relevant general meetings of NAIL
shareholders, all of the ordinary and special resolutions were
passed by the requisite majority.
NAIL shareholders are advised that the Odd Lot Offer to NAIL ordinary
shareholders and NAIL "N" shareholders ("NAIL shareholders") who held 30
or less NAIL ordinary shares and 30 or less NAIL "N" shares at the close
of business on Friday, 29 May 2009 ("Odd Lot Holders") has been
implemented.
2. Results of the odd lot offer
The total number of NAIL ordinary shares and NAIL "N" shares ("NAIL
shares") relating to those Odd Lot Holders who have elected to sell or
were deemed to have sold their odd lot holdings because they did not
elect to retain their odd lot holdings is as follows:
NAIL "N" shares NAIL ordinary shares
Number of Value of Number of Value of
shares shares (R) shares shares (R)
110 594 75 204 26 875 18 275
These NAIL shares were purchased by NAIL at 68 cents per NAIL share for a
total consideration of R93 479. These NAIL shares will be cancelled,
delisted and restored to the status of authorised but unissued share
capital.
The total number of NAIL shares which continue to be held by Odd Lot
Holders who elected to retain their odd lot holdings is as follows:
NAIL "N" shares NAIL ordinary shares
Number of Percentage Number of Percentage
shares holding shares holding
222 0.0002% 144 0.0027%
As a result of the implementation of the Odd Lot Offer, the number of
NAIL shareholders, as well as the total number of NAIL shares in issue
has been reduced as follows:
NAIL "N" shares NAIL ordinary
shares
Number Percenta Number Percentag
reduced ge reduced e
reductio reduction
n
NAIL shares 110 594 0.09% 26 875 0.64%
NAIL 20 356 90.91% 3 846 88.70%
shareholders
3. Payment to Odd Lot Holders
Cheques and electronic transfers in respect of the sale of odd lot
holdings will be posted by ordinary post to the relevant Odd Lot Holders
or effected on or about Monday, 1 June 2009 respectively, except in
respect of certificated Odd Lot Holders who did not make an election and
who were therefore deemed to have sold their odd lot holdings, and who
have not surrendered their documents of title prior to Monday, 1 June
2009.
4. Certificated Odd Lot Holders
Certificated Odd Lot Holders who did not make an election and were
therefore deemed to have sold their odd lot holdings are reminded that in
order for payment in respect of the sale of their odd lot holdings to be
effected they are required to surrender their documents of title to the
transfer secretaries, Computershare Investor Services (Proprietary)
Limited, Ground Floor, 70 Marshall Street, Johannesburg, 2001 or PO Box
61763, Marshalltown, 2107.
These Odd Lot Holders are also reminded that their documents of title
were no longer good for trading after Friday, 29 May 2009 and have no
value other than to receive the proceeds of the sale of their odd lot
holdings of 68 cents per NAIL share upon surrender of their documents of
title, which will be paid within 5 business days after the surrender of
such documents of title.
5. Dematerialised Odd Lot Holders
An Odd Lot Holder who has elected to sell or is deemed to have sold
his/her odd lot holding because he/she did not elect to retain their odd
lot holdings, and has dematerialised his/her NAIL shares, will have
his/her account with his/her Central Securities Depository Participant or
broker (as the case may be), updated and credited with the proceeds of
the sale on or about Monday, 1 June 2009.
Sandton
1 June 2009
Investment Bank and Sponsor
Investec Bank Limited
Corporate Law Adviser
Edward Nathan Sonnenbergs
Date: 01/06/2009 13:10:02 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
