| Mon 5 Oct 2009, 14:46 | | GEN - General - Results of Firebird`s offer to acquire the sallies |
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JSE
GEN
GEN - General - Results of Firebird`s offer to acquire the sallies
ordinary shares and Sallies convertible debentures ("SALLIES
SECURITIES") that it does not already own
Firebird Global Master Fund, Ltd
(Incorporated in the Cayman Islands, British West Indies)
(Registration number CR-124871)
("FB" and, together with its affiliate Firebird Global Master Fund II,
Ltd. ("FBII"), "Firebird")
RESULTS OF FIREBIRD`S OFFER TO ACQUIRE THE SALLIES ORDINARY SHARES AND
SALLIES CONVERTIBLE DEBENTURES ("SALLIES SECURITIES") THAT IT
DOES NOT ALREADY OWN
INTRODUCTION
Sallies Securityholders are referred to the circular dated 2 September
2009, setting out the details of an unconditional mandatory cash
offer by Firebird to Sallies Securityholders to acquire the
Sallies Securities that it does not already own from Sallies
Securityholders for a consideration of R0.18 for every Sallies
Security ("the Offer"). Securityholders are advised that as at
12:00 on Friday, 2 October 2009, being the closing date of the
Offer, valid acceptances of the Offer had been received in
respect of 70,965,839 Sallies ordinary shares and 1,368,896
Sallies convertible debentures, representing approximately 11% of
the Sallies ordinary shares and 1% of Sallies convertible
debentures respectively. As a result the total settlement payment
to be made by Firebird will be R13,020,252 in terms of the offer
consideration. Firebird`s holding post the Offer will increase
from 406,992,767 (63%) to 477,958,606 (74%) Sallies ordinary
shares and from 29,147,954 (20%) to 30,516,850 (21%) Sallies
convertible debentures.
The Offer consideration due to:
* dematerialised Sallies Securityholders who accepted the Offer
will not be posted to such dematerialised Sallies Securityholders
but will be transferred, at such dematerialised Sallies
Securityholders` risk, to their CSDP or broker within seven days
of the Offer being accepted, by the transfer secretaries and
dealt with in terms of the custody agreement entered into between
the dematerialised Sallies Securityholder and their broker.
* certificated Securityholders who accepted the Offer will be
posted by ordinary mail, to such certificated Sallies
Securityholders, at such certificated Sallies Securityholders`
risk, to the address reflected in the form of acceptance,
surrender and transfer, or if there is no address on such form,
to the address reflected in the register. This will take place
within seven days of the receipt of the valid form of acceptance,
surrender and transfer together with the relevant document(s) of
title (in negotiable form), provided that such acceptances have
been received before 12:00 on Friday, 2 October 2009.
Johannesburg
Corporate advisor: Qinisele Resources (Pty) Limited
Legal advisor: Fasken Martineau DuMoulin (Pty) Limited
5 October 2009
Date: 05/10/2009 14:46:03 Produced by the JSE SENS Department.
