CSP - Chemical Specialities Limited - Update on the rights offer to raise R100
CSP
CSP
CSP - Chemical Specialities Limited - Update on the rights offer to raise R100
million of new equity & potential issue of shares for cash
Chemical Specialities Limited
(Incorporated in the Republic of South Africa)
(Registration number 2005/039947/06)
Share code: CSP
ISIN: ZAE000109427
("Chemspec" or "the Company")
UPDATE ON THE RIGHTS OFFER TO RAISE R100 MILLION OF NEW EQUITY & POTENTIAL ISSUE
OF SHARES FOR CASH
Shareholders are referred to the progress report dated 1 June 2010 ("the
progress report") regarding the proposed rights offer and potential specific
issue for cash. Further to the progress report, shareholders are informed that:
* the draft circular and related documents that required final approval
for the rights offer and the potential specific issue ("the
transaction documents") have been approved by the Johannesburg
Securities Exchange Limited and the Securities Regulation Panel
("SRP");
* the transaction documents will be submitted today to the Registrar of
Companies ("CIPRO") for its final approval, which is expected to be
obtained by Thursday 24 June 2010.
As soon as the aforementioned CIPRO approval has been obtained, a detailed
announcement will be made to shareholders confirming such approval, the salient
dates and times as well as the pro forma financial effects of the proposed
rights offer and the potential specific issue.
Bryanston
22 June 2010
Designated Advisor: QuestCo Sponsors (Pty) Limited
Fundraising Advisor: Purple Capital Limited
Attorneys to the proposed rights offer: Edward Nathan Sonnenbergs Inc.
Date: 22/06/2010 14:14:44 Produced by the JSE SENS Department.
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