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YRK
YRK
YRK - York Timber Holdings Limited - Results of rights offer
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")
RESULTS OF RIGHTS OFFER
Shareholders are referred to the announcement released on the SENS on 30 October
2009 relating to the York rights offer in terms of which 250 000 000 shares in
the authorised but unissued share capital of York were offered for subscription
to shareholders ("the Rights Offer Shares") in the ratio of 307.72792 Rights
Offer Shares for every 100 York ordinary or preference shares ("shares") held on
the record date at an issue price of 200 cents per Rights Offer Share ("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 Rights Percentage of Rights
Offer Shares Offer Shares
Rights Offer Shares available for 250 000 000 100.0
subscription
Rights Offer Shares subscribed for 248 208 354 99.3
Excess Rights Offer Shares 168 447 650 67.4
subscribed for
Total Rights Offer Shares 416 656 004 166.7
subscribed for
Rights Offer Shares available for 1 791 646 0.7
excess applications
The Rights Offer was underwritten by the following shareholders: Lereko Metier
Capital Growth Fund, CoroCapital Limited, Coronation Asset Management Limited to
the extent of 72 500 000 Rights Offer Shares (the "Underwritten Rights Offer
Shares"). Given that the shares subscribed for by current shareholders together
with the excess applications were in excess of the total amount of the Rights
Offer, the Underwriters will not be allocated any Rights Offer Shares.
The excess Rights Offer Shares subscribed for will be allocated to applicants in
a manner viewed as equitable in terms of the Listing Requirements of the JSE
Limited taking cognisance of the number of shares held by the relevant
shareholder prior to such allocation, including those taken up as a result of
the Rights Offer and the number of excess shares applied for by such
shareholder.
Share certificates will be posted to holders of certificated shares on or about
Tuesday, 15 December 2009. The accounts of holders of dematerialised shares who
have followed their rights, will be updated and accounts credited with the
Rights Offer Shares and debited with the money by their CSDP or broker on
Monday, 14 December 2009.
Sabie
14 December 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: 14/12/2009 16:19:03 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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