| Mon 1 Jun 2009, 15:21 | | ACT/ACTP - Afrocentric/Lethimvula - Results of the offer announcement |
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ACT ACTP
ACT
ACT/ACTP - Afrocentric/Lethimvula - Results of the offer announcement
AFROCENTRIC INVESTMENT CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1988/000570/06)
Share code: ACT/ ACTP & ISIN: ZAE000078416 / ZAE000082269
("AfroCentric" or "the Company")
LETHIMVULA INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/005087/06)
("Lethimvula")
RESULTS OF THE OFFER ANNOUNCEMENT
Shareholders of both AfroCentric and Lethimvula are referred to the
announcement released on the Securities Exchange News Service of the JSE
Limited on Tuesday, 28 April 2009 in which they were advised of the extension
of the closing date of:
1 the offer by AfroCentric`s subsidiary ("the Purchaser") to all of the
shareholders of Lethimvula, other than the members of the AfroCentric
group, ("Offeree Shareholders") to acquire all of their Lethimvula shares
("the Offer"); and
2 the offers by the Purchaser to Dewald Dempers, in respect of the options
he holds to subscribe for Lethimvula shares and Newshelf 755
(Proprietary) Limited (African Vanguard Consortium), in respect of the
options it holds to subscribe for Lethimvula shares.
Prior to the offer, members of the AfroCentric group held 365 865 029 shares
in Lethimvula representing 63.2% of the entire issued share capital of
Lethimvula.
As at 12:00 on Friday, 29 May 2009, the closing date of the Offer, the
Purchaser has received acceptances from Offeree Shareholders holding 117 817
466 shares in Lethimvula representing 20.4% of the entire issued share capital
of Lethimvula. In addition, at this date the Purchaser has received an
acceptance from Newshelf 755 (Proprietary) Limited (African Vanguard
Consortium) of the offer made to it in respect of the options it holds to
subscribe for Lethimvula shares.
Following the acquisition of the Lethimvula shares in respect of which
acceptances have been received by the Offeree Shareholders, the AfroCentric
group will hold 483 682 495 shares in Lethimvula representing 83.6% of the
entire issued share capital of Lethimvula.
Johannesburg
1 June 2009
Advisors to AfroCentric Advisors to Lethimvula
Investment Bank and sponsor to the Corporate advisors to Lethimvula
transaction Sinergi Corporate Advisors
Investec Bank Limited (Proprietary) Limited
(Registration number (Registration number
1969/004763/06) 2004/011875/07)
Sponsor to AfroCentric Joint Legal Advisors to
Sasfin Capital Lethimvula
(Registration number Edward Nathan Sonnenbergs
1951/002280/06) (Registration number
2006/018200/21)
Rothbart Inc
(Registration number
1995/001105/21)
Legal advisor to AfroCentric
HR Levin Attorneys, Notaries &
Conveyancers
(Practice number M2841)
Date: 01/06/2009 15:21:01 Produced by the JSE SENS Department.
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