| Thu 13 Aug 2009, 16:36 | | SEP - Sephaku Holdings Limited - Abriged pre listing statement |
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SEP
SEP - Sephaku Holdings Limited - Abriged pre listing statement
Sephaku Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2005/003306/06)
Share code: SEP ISIN: ZAE000138459
("Sephaku Holdings" or "the Company")
ABRIGED PRE LISTING STATEMENT
This pre-listing statement is not an invitation to the public to subscribe for
ordinary shares in Sephaku Holdings, but is issued in compliance with the JSE
Limited Listings Requirements, for the purpose of providing information to the
public with regard to the Company.
1. INTRODUCTION
The JSE Limited ("the JSE") has granted a listing for the entire issued share
capital of Sephaku Holdings on the Main Board in the "General Mining" sector
with effect from the commencement of business on 21 August 2009. The listing is
being undertaken by way of an introduction. At the date of listing, the
Company`s share capital will comprise 155 805 362 ordinary shares with no par
value ("shares"). The Company`s shares will trade under the abbreviated name
Sephaku, with share code SEP and ISIN: ZAE000138459.
2. RATIONALE FOR LISTING
The main purposes of the listing of the Company on the JSE are to:
2.1 provide Sephaku Holdings with a public profile enhancing its ability to
attract new exploration opportunities;
2.2 provide Sephaku Holdings with a potential source of additional equity
capital;
2.3 comply with the undertaking made by Sephaku Holdings to shareholders and
investors to list Sephaku Holdings` shares on the JSE during the course of the
second half of 2009; and
2.4 provide investors with a recognised market for trading Sephaku Holdings`
shares.
3. NATURE OF BUSINESS
Sephaku Holdings is an HDSA-controlled, mineral exploration, development and
investment company, with a diverse range of mining and exploration projects
including, inter alia, limestone, fluorspar, coal, tin, gold and nickel
projects. The Company is primarily focussed on the identification of
economically viable mineral prospects, the acquisition of such assets and the
development of such prospects into full-scale mining projects. The Sephaku
Holdings executive team comprises highly respected and experienced individuals
with a wealth of financial, legal and technical expertise in all aspects of the
mining industry.
4. KEY STRENGTHS AND BENEFITS
Sephaku Holdings is considered to have significant competitive advantages over
other exploration and mining companies in South Africa, as well as other new
players seeking to enter the market:
4.1 as approximately 54% of Sephaku Holdings` shares are held by HDSAs, the
Company is well placed to apply directly for new order mining rights or to
partner with entities which do not have the requisite HDSA participation;
4.2 Sephaku Holdings has an established board of directors and a management team
that is highly experienced and comprises well respected industry specialists;
4.3 the founders of Sephaku Holdings have a proven track record of taking
companies up the value curve, from early stage exploration to producing assets;
and
4.4 Sephaku Holdings` mineral resources and other new order prospecting rights
are situated adjacent to existing mines in world-renowned mining regions in
South Africa.
5. OVERVIEW OF ASSETS
5.1 The Cement Project
The Sephaku Group`s most advanced project is held by Sephaku Cement Limited
("Sephaku Cement"), an 80.2% held subsidiary of Sephaku Holdings. The project
can be divided into three components:
* The Itsoseng Project - which will consist of a limestone mine and a cement
manufacturing plant producing 5 100 tons of clinker per day and a cement
grinding and milling plant with an expected production capacity of approximately
0.90Mt of cement per annum. The limestone deposit is situated on the
Stiglingspan, Verdwaal and Klein Westerford farms located 7km southwest of
Itsoseng in the North West Province of South Africa;
* The Delmas Milling Project - which will involve the establishment of a cement
grinding and milling plant in Delmas, which is closer to the markets in Gauteng,
the province with the largest market for cement sales in South Africa.
Approximately 50% of the clinker produced at Itsoseng will be transferred to
Delmas for further processing, using fly ash as an extender to produce cement.
The Delmas Milling Project is expected to produce approximately 1.25Mt of cement
per annum; and
* The Fly Ash Classification Project - which involves the purchase, removal and
processing of waste ash generated by Eskom in its coal burning operations. The
waste ash, once processed through the ash plant, will be utilised as: a) an
extender in the production of cement at the Delmas Project and b) for retail
selling into the open cementitious market. The fly ash classification plant is
located at Eskom`s Kendal Power Station.
5.2 The Fluorspar Project
The Sephaku Group`s second most advanced project is the Dinokeng fluorspar
project ("Fluorspar Project"), which is 100% held by Sephaku Exploration
Holdings (Pty) Limited, a wholly-owned subsidiary of Sephaku Holdings, and is
located in the north-eastern quadrant of Gauteng in the Metsweding District
Municipality. The Fluorspar Project comprises two contiguous properties on
which two fluorspar deposits are located immediately south of the Vergenoeg Mine
in which Metorex Limited holds a 55% interest. Sephaku intends developing these
properties into a fluorspar mine, producing 130 000 tons per annum of acid-grade
fluorspar by 2011. The deposit is divided into the Plattekop Deposit and the
Outwashfan Deposit.
5.3 Other interests
The Company also has interests in gold through its 30% holding in Taung Gold
Limited (which holds the Jeanette and Hilton properties in the Free State
goldfields as well as the Six Shaft and Twistdraai properties located in
Mpumalanga) as well as in coal, tin and nickel (through a 26% interest in
African Nickel Holdings Limited).
6. DIRECTORS
The full names, capacities, ages, date of appointment and business addresses of
the directors of Sephaku Holdings are set out below:
Full name and Business Principal Date
age address occupation and appointed
function
Dr Lelau Mohuba Suite 4A, Executive 3 February
(52) Manhattan chairman 2005
Office Park, 16
Pieter Road,
Highveld Techno
Park,
Centurion, 0067
Neil Robus Suite 4A, Chief 1 June 2007
Crafford- Manhattan executive
Lazarus (50) Office Park, 16 officer
Pieter Road,
Highveld Techno
Park,
Centurion, 0067
Morrison Suite 4A, Financial 1 November
Etienne Smit Manhattan director 2005
(49) Office Park, 16
Pieter Road,
Highveld Techno
Park,
Centurion, 0067
Rose Raisibe Suite 4A, Executive 23 August
Matjiu (49) Manhattan director - 2005
Office Park, 16 Social and
Pieter Road, labour plans
Highveld Techno
Park,
Centurion, 0067
Christiaan Suite 4A, Non-executive 19 September
Rudolph De Wet Manhattan director 2006
De Bruin (56) Office Park, 16
Pieter Road,
Highveld Techno
Park,
Centurion, 0067
Dr Gilmamba Ground Floor, Non-executive 19 September
Sylvester Building 2, 21 director 2006
Mahlati (52) Impala Road,
Chislehurston,
Sandton, 2196
Moses Modidima 89 Central Non-executive 1 February
Ngoasheng (52) Street, director 2008
Houghton,
Johannesburg,
2198
Modilati Gustav 106A2 Independent 29 January
Mahlare (54) Lourgardia non-executive 2009
Building, Cnr. director;
Hendrik chairman of
Verwoerd and the audit
Embankment committee
Road,
Centurion, 0067
Jennifer Suite 4A, Alternate 3 February
Bennette (47) Manhattan director 2005
Office Park, 16
Pieter Road,
Highveld Techno
Park,
Centurion, 0067
David Twist La Trigale, Alternate 19 September
(55) Colborne Road, director 2006
St Peter Port,
Guernsey,
Channel
Islands, GY1
1EP, United
Kingdom
7. Copies of the pre-listing statement
The pre-listing statement (in English only) will be available for download on
the Company`s website (www.sephaku.co.za) from Friday, 14 August 2009. Copies of
the pre-listing statement (in English only) can be obtained during normal
business hours from the registered office of the Company, sponsor and the
transfer secretaries from Friday, 21 August 2009 until Friday 4 September 2009
at the following addresses:
Sephaku Holdings : Suite 4A, Manhattan Office Park, 16 Pieter Road, Highveld
Techno Park, Centurion, 0067
QuestCo Sponsors : 1st Floor Wrigley Field, The Campus, 57 Sloane Street,
Bryanston, 2021
Computershare : Ground Floor, 70 Marshall Street, Johannesburg, 2001
Centurion
13 August 2009
Sponsor : QuestCo Sponsors
Corporate advisor : QuestCo
Competent person : Venmyn
Reporting accountants : PKF
Date: 13/08/2009 16:36:03 Produced by the JSE SENS Department.
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