| Mon 28 Jun 2010, 12:30 | | HLM - Hulamin Limited - Results of rights offer |
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HLM
HLM
HLM - Hulamin Limited - Results of rights offer
Hulamin Limited
Incorporated in the Republic of South Africa
(Registration number: 1940/013924/06)
Share code: HLM ISIN: ZAE000096210
("Hulamin" or "the Company")
RESULTS OF RIGHTS OFFER
Shareholders are referred to the announcements released on SENS on 26 April
2010, 14 May 2010 and 21 May 2010 and the circular dated 7 June 2010 in terms of
which Hulamin announced the raising of R750 million by way of a partially
underwritten rights offer ("Rights Offer"). In terms of the Rights offer,
100,000,000 new ordinary shares with a par value of 10 cents each ("Rights Offer
Shares") were offered to qualifying Hulamin ordinary shareholders or their
renouncees ("Shareholders") in the ratio of 46.25457 Rights Offer Shares for
every 100 Hulamin ordinary shares held on 4 June 2010 (the "Record Date") at a
subscription price of R7.50 per Rights Offer Share.
The Rights Offer closed on Friday, 25 June 2010 and the results thereof are set
out in the table below.
Number of % of Rights
Rights Offer Offer
Shares Shares
Rights Offer Shares available for 100,000,000 100.0
subscription
Rights Offer Shares subscribed for 99,221,868 99.2
Excess applications received 45,178,964 45.2
Excess Rights Offer Shares allocated 778,132 0.8
The excess Rights Offer Shares applied for were allocated taking cognisance of
the number of shares held by the Shareholder as at the Record Date, including
those taken up as a result of the Rights Offer, and the number of excess Rights
Offer Shares applied for by such Shareholder.
The Rights Offer was partially underwritten by Old Mutual Investment Group
(South Africa) (Pty) Limited and Abax Investments (Pty) Limited ("the
Underwriters").
The Underwriters will not be allocated any Rights Offer Shares in light of the
fact that the Rights Offer was fully subscribed, after taking into account the
applications received for excess Rights Offer Shares.
For Shareholders who have subscribed for Rights Offer Shares:
(i) share certificates will be posted to holders of certificated shares on or
about Monday, 28 June 2010; and
(ii) the Central Securities Depository Participant ("CSDP") or broker accounts
of holders of dematerialised shares will be credited with the Rights Offer
Shares and debited with any payments due on Monday, 28 June 2010.
For Shareholders who have applied for, and been allocated, excess Rights Offer
Shares:
(i) share certificates and/or refund cheques will be posted to holders of
certificated shares on or about Wednesday, 30 June 2010; and
(ii) the CSDP or Broker accounts of holders of dematerialised shares will be
credited with the excess Rights Offer Shares and debited with any payments
due on Wednesday, 30 June 2010.
Pietermaritzburg
28 June 2010
Joint advisor and sponsor
RAND MERCHANT BANK
A division of FirstRand Bank Limited
Joint advisor
Standard Bank
Legal advisor to the Company
Bowman Gilfillan
Reporting accountants
PricewaterhouseCoopers Inc.
Registered Auditors
Date: 28/06/2010 12:30:01 Produced by the JSE SENS Department.
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