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YRK
YRK
YRK - York - Proposed Restructure And Rights Offer Finalisation Announcement
York Timber Holdings Limited
(formerly The York Timber Organisation Limited)
Incorporated in the Republic of South Africa
Registration number: 1916/004890/06
ISIN code: ZAE000133450 & Share code: YRK
("York" or "the Company")
PROPOSED RESTRUCTURE AND RIGHTS OFFER FINALISATION ANNOUNCEMENT
1. INTRODUCTION
Ordinary shareholders and preference shareholders of York ("shareholders")
are referred to the announcement released on SENS on Friday, 30 October
2009 and published in the press on Monday, 2 November 2009 which included
the terms and declaration information relating to the rights offer of 250
000 0000 listed ordinary shares in York ("rights offer shares") made
available to shareholders in the ratio of 307.72792 rights offer shares for
every 100 ordinary shares or preference shares held by shareholders at the
close of business on Friday, 20 November 2009, at R2.00 per rights offer
share ("rights offer").
2. CONDITIONS PRECEDENT
Shareholders are advised that all conditions precedent to the rights offer
have been fulfilled.
3. CONFIRMATION OF SALIENT DATES AND TIMES
The salient dates and times which are applicable to the rights offer are
set out below:
2009
Last day to trade in shares in Friday 13
order to settle trades by the November
record date for the rights offer
and to qualify to participate in
the rights offer (cum rights)
Listing and trading of letters of Monday 16
allocation on the JSE while shares November
trade ex-rights commences at 09h00
on
Record date for the rights offer Friday 20
for purposes of determining November
shareholders entitled to
participate in the Rights offer at
the close of business on
Rights offer circular and revised Monday 23
listing particulars posted to November
shareholders
Rights offer opens at 09h00 on Monday 23
November
Dematerialised shareholders will Monday 23
have their accounts at their CSDP November
or broker automatically credited
with their letters of allocation
Certificated shareholders will Monday 23
have their letters of allocation November
credited to an electronic register
at the transfer secretaries
Last day to trade in letters of Friday 4 December
allocation in order to settle
trades by the close of the rights
offer and participate in the
rights offer at the close of
business
Last day for forms of instruction Friday 4 December
of certificated shareholders
wishing to sell all or part of
their entitlement to be lodged
with the transfer secretaries by
12h00 on
Listing of the maximum number and Monday 7 December
trading of rights offer shares on
the JSE commences at 09h00 on
Record date for letters of Friday 11
allocation December
Rights offer closes at 12h00 and Friday 11
payment to be made and forms of December
instruction lodged by certificated
shareholders with the transfer
secretaries by 12h00 on (see note
2 below)
CSDP/Broker accounts credited with Monday 14
rights offer shares and debited December
with any payments due in respect
of dematerialised rights offer
shares
Rights offer share certificates Monday 14
posted to certificated December
shareholders on or about
Results of rights offer released Monday 14
on SENS December
Results of rights offer published Tuesday 15
in the press December
Refund cheques, if applicable, Tuesday 15
posted to certificated December
shareholders, if applicable, in
respect of excess applications, on
or about
Adjustments to the number of Tuesday 15
rights offer shares listed, on or December
about
Notes:
1. All times referred in this circular are local times in South Africa on
a 24hr basis.
2. Dematerialised shareholders are required to inform their CSDP or
broker of their instructions in terms of the rights offer in the
manner and time stipulated in the agreement governing the relationship
between the shareholder and their CSDP or broker.
3. Share certificates may not be dematerialised or rematerialised between
Monday 16 November 2009 and Friday 20 November 2009, both days
inclusive.
4. Dematerialised shareholders will have their accounts at their CSDP
automatically credited with their rights and certificated shareholders
will have their rights credited to an account at Computershare
Nominees.
5. CSDPs effect payment in respect of dematerialised shareholders on a
delivery versus payment method.
6. The letter of allocation will trade under the JSE code: YRKN (short
name: YORK NPL) and have been allocated an ISIN number of
ZAE000142360.
4. CIRCULAR TO SHAREHOLDERS
A circular containing all the details of the rights offer and incorporating
revised listing particulars and a form of instruction in respect of a
letter of allocation, where applicable, will be posted to shareholders on
Monday, 23 November 2009.
Sabie
10 November 2009
Merchant bank
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Legal advisors
Prinsloo, Tindle & Andropolous Inc
Reporting accountants
KPMG Inc.
Sponsor
Barnard Jacob Mellet Corporate Finance (Proprietary) Limited
Date: 10/11/2009 17:30:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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