| Mon 14 Dec 2009, 10:08 | | DAW - Dawn - Results of the Rights Offer |
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DAW
DAW
DAW - Dawn - Results of the Rights Offer
Distribution and Warehousing Network Limited
(Registration number 1984/ 008265/06)
ISIN: ZAE000018834
Share Code: DAW
("Dawn" or "the Company")
RESULTS OF THE RIGHTS OFFER
Shareholders are referred to the announcements released on SENS on 30 October
2009 and on 6 November 2009 and the circular to Dawn ordinary shareholders dated
23 November 2009 relating to the Dawn Rights Offer in terms of which a total of
41,666,666 Dawn ordinary shares in the authorised but unissued share capital of
Dawn were offered for subscription to qualifying Dawn shareholders, by way of
renounceable rights, at a subscription price of 720 cents per Dawn ordinary
share on the basis of 20.98270 rights offer shares for every 100 Dawn ordinary
shares held at the close of trade on the record date of the Rights Offer.
The Rights Offer closed on Friday, 11 December 2009 and the results thereof are
set out in the table below.
Number of % of Value of Shares
Shares Rights @ 720 cents per
Offer Rights Offer
Shares Share
Rights Offer Shares available 41,666,666 100 R299 999 995.20
for subscription
Certificated number of Rights 6,379 0.02 R45 928.80
Offer Shares taken up
Uncertificated number of 35,824,770 85.98 R257 938 344.00
Rights Offer Shares taken up
Total of Rights Offer Shares 35,831,149 R257 984 272.80
exercised
Agreed take up 1,583,362 3.80 R11 400 206.40
Available to the underwriters 4,252,155 10.20 R30 615 516.00
Total Rights Offer Shares 41,666,666 100 R299 999 995.20
allocated
The Rights Offer was fully underwritten by Coronation Asset Management
(Proprietary) Limited ("Coronation" or "the Underwriter").
The Rights Offer was 89.8% subscribed for and the subscription consideration
received from public subscriptions is R269 384 479.20.
The balance of 10.2% for the subscription consideration of R30 615 516.00 is to
be received from the Underwriter.
Coronation will settle the issue price of the Rights Offer Shares under its
underwriting obligations in cash.
Rights Offer Shares will be issued and posted to certificated shareholders in
certificated form on or about Monday, 14 December 2009.
The CSDP or broker accounts in respect of dematerialised shareholders will be
updated with rights offer shares and debited with any payments due on or about
Monday, 14 December 2009.
Johannesburg
14 December 2009
Corporate adviser
Bishop Corporate Finance (Pty) Ltd
(Registration number 2000/012695/07)
Transaction Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
(Registration number 1970/003711/07)
Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd
(Registration number 1996/000034/07)
Attorneys to Dawn
Cliffe Dekker Hofmeyr Incorporated
Date: 14/12/2009 10:08:01 Produced by the JSE SENS Department.
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