| Fri 29 May 2009, 17:40 | | MKX - Milkworx - Results of rights offer and basis |
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MKX
MKX
MKX - Milkworx - Results of rights offer and basis of allocation of excess
applications
MILKWORX LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1998/011074/06)
Share code: MKX & ISIN: ZAE000058020
("Milkworx" or "the Company")
RESULTS OF RIGHTS OFFER AND BASIS OF ALLOCATION OF EXCESS APPLICATIONS
The directors of Milkworx are pleased to present the results of the rights
offer to Milkworx shareholders ("the rights offer") of 233 733 088 new
Milkworx shares ("rights shares") at an issue price of 2 cents per rights
share, to raise R4 674 661.76, which rights offer closed on Friday, 29 May
2009.
Milkworx shareholders and their renouncees subscribed for 104 744 582 rights
shares, being approximately 41.10% of the rights shares available for
subscription. In addition, excess applications were received in respect of 8
681 180 rights shares, being approximately 3.71% of the rights shares. Such
excess applications will accordingly be allocated in full, resulting in a
final subscription by shareholders and their renouncees of 104 744 582 rights
shares, being approximately 44.81% of the rights available for subscription.
As the rights offer was fully underwritten, the underwriter will subscribe
for the outstanding 128 988 506 shares, resulting in 233 733 088 rights
shares being issued and listed with effect from Monday, 1 June 2009. Holders
of certificated shares will have new share certificates posted to them on or
about Monday, 1 June 2009, whilst Central Securities Depository
Participant/Broker accounts will be debited and updated with the rights
shares on or about Monday, 1 June 2009.
Johannesburg
29 May 2009
Designated Advisor
Arcay Moela Sponsors (Proprietary) Limited
Date: 29/05/2009 17:40:02 Produced by the JSE SENS Department.
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