| Fri 23 Oct 2009, 15:57 | | AFP - AF Pref - Proposed acquisition rights offer and capitalisation issue |
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AFP
AFP
AFP - AF Pref - Proposed acquisition, rights offer and capitalisation issue
finalisation announcement
Alexander Forbes Preference Share Investments Limited
(Incorporated in the Republic of South Africa)
Registration number: 2006/031561/06
ISIN code: ZAE000098067
Share code: AFP
("AF Pref" or "the Company")
PROPOSED ACQUISITION, RIGHTS OFFER AND CAPITALISATION ISSUE FINALISATION
ANNOUNCEMENT
1. Introduction
Linked unitholders of the Company are referred to the declaration announcement
released on SENS on 14 September 2009 and in the press on 15 September 2009 and
the circular to shareholders dated 16 September 2009 ("Circular") relating to,
inter alia:
- the acquisition by AF Pref of its proportionate share of the relevant assets
(as defined in the Circular) (the "Proposed Acquisition");
- the rights offer in respect of 90 000 000 rights offer linked units to be made
to linked unitholders in the ratio of 90 new rights offer linked units for
every 100 linked units held at the close of business on Friday, 6 November
2009, at R3.50 per linked unit ("Rights Offer");
- the capital distribution of R0.85 per preference share by way of a capital
reduction out of share premium to be made to preference shareholders recorded
in the register as such on Friday, 6 November 2009 ("Preference Share
Distribution"); and
- the issue of 46 846 200 new linked units to linked unitholders recorded in the
register as such on Friday, 6 November 2009, in lieu of accrued and
capitalised interest ("Capitalisation Issue") (collectively, "the
Transaction").
2. Preference Share Distribution
Linked unitholders are referred to the announcement released on SENS on 8
October 2009 and are reminded that the condition precedent to the Preference
Share Distribution was fulfilled on Thursday, 8 October 2009.
3. Conditions precedent
All conditions precedent to the Proposed Acquisition, Rights Offer and
Capitalisation Issue have now been fulfilled and the Transaction will be
implemented in accordance with the timetable detailed in the declaration
announcement referred to above.
4. Circular to linked unitholders
The Rights Offer circular incorporating revised listing particulars and a form
of instruction in respect of a letter of allocation, where applicable, will be
posted to AF Pref linked unitholders on Monday, 9 November 2009.
Sandton
23 October 2009
Merchant bank and sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Attorneys
Deneys Reitz Inc.
Reporting accountants
PricewaterhouseCoopers Inc.
Date: 23/10/2009 15:57:01 Produced by the JSE SENS Department.
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