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CSP
CSP
CSP - Chemical Specialities Limited - Results of the rights offer, allocation of
excess applications and SRP ruling
Chemical Specialities Limited
(Incorporated in the Republic of South Africa)
(Registration number 2005/039947/06)
JSE share code: CSP
ISIN Number: ZAE000109427
("Chemspec")
RESULTS OF THE RIGHTS OFFER, ALLOCATION OF EXCESS APPLICATIONS AND SRP RULING
1. Results of the rights offer and allocation of excess applications
Chemspec shareholders ("the Chemspec Shareholders") are referred to the
Chemspec circular to Chemspec Shareholders dated 28 June 2010 ("the
Circular") and the announcements dated 13 April 2010, 25 June 2010, 29 June
2010 and 27 July 2010 ("the Announcements"), relating to the partially
underwritten renounceable rights offer ("the Rights Offer"). The Rights
Offer closed at 12:00 on Friday, 13 August 2010, and the results thereof
are set out below:
Number of Value at 90
rights cents per
offer share R
shares
Total number of Rights Offer 111 111 99 999
111 999.90
shares available for
subscription
Rights Offer shares 63 892 879 57 503
591.10
subscribed for by Chemspec
shareholders
Rights Offer 27 777 777 24 999
999.30
shares to be issued to the
underwriter in terms of the Underwriting
Agreement
Excess Rights Offer shares 16 852 888 15 167
applied for by and allocated 599.20
to
Chemspec Shareholders
Total 108 523 97 671
544 189.60
The accounts of dematerialised shareholders will be credited with Rights Offer
shares and debited with any payments due on or about Monday, 16 August 2010 and
Rights Offer share certificates will be posted to certificated shareholders on
or about Tuesday, 17 August 2010.
The board of directors of Chemspec wishes to thank its shareholders for their
support of the Rights Offer and confidence in Chemspec`s strategy.
2. SRP Ruling
The SRP has considered the application for the waiver in terms of Rule 8.7 of
the SRP Code and has granted such a waiver as disclosed in the circular and
announcements.
Canelands
16 August 2010
Designated Advisor: QuestCo Sponsors (Pty) Ltd
Fund Raising Advisor: Purple Capital Ltd
Rights Offer Legal Advisor: Edward Nathan Sonnenbergs Inc.
Date: 16/08/2010 17:51:58 Produced by the JSE SENS Department.
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