| Mon 20 Sep 2010, 15:34 | | ABK - African Brick Centre Limited - Results of the Rights Offer |
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ABK
ABK
ABK - African Brick Centre Limited - Results of the Rights Offer
AFRICAN BRICK CENTRE LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number: 1999/006214/06)
Share Code: ABK ISIN: ZAE000105169
("African Brick" or "the Company")
RESULTS OF THE RIGHTS OFFER
Shareholders are referred to the announcements released on SENS on 31 May 2010
and 13 August 2010 and the circular to African Brick ordinary shareholders dated
30 August 2010 relating to the African Brick Rights Offer in terms of which a
total of 671,311,614 African Brick ordinary shares in the authorised but
unissued share capital of African Brick were offered for subscription to
qualifying African Brick shareholders, by way of renounceable rights, at a
subscription price of 3 cents per African Brick ordinary share on the basis of
215 rights offer shares for every 100 existing African Brick ordinary shares
held at the close of trade on the record date of the Rights Offer.
The Rights Offer closed on Friday, 17 September 2010 and the results thereof are
set out in the table below.
Number of % of Value of Shares
Shares Rights @ 3 cents per
Offer Rights Offer
Shares Share
Rights Offer Shares 671,311,614 100 R20,139,348.42
available for subscription
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Certificated number of Rights 0 0 R0.00
Offer Shares taken up
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Uncertificated number of 226,116,146 33.68 R6,783,484.38
Rights Offer Shares taken up
(including the Yakani
cash portion)
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Agreed take up by Yakani 166,666,667 24.82 R5,000,000.00
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Total of Rights Offer Shares 392,782,813 58.50 R11,783,484.39
Exercised
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Excess Rights offer shares 3,496,266 0.52 R104,887.98
Applied for
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Excess Rights Offer shares 3,496,266 0.52 R104,887.98
Allocated
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Total Rights Offer Shares 396,279,079 59.03 R11,888,372.37
Allocated
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Yakani Infraco (Proprietary) Limited, representing 51% of the issued shares of
the Company, irrevocably followed its rights through the conversion of its R5
million loan into shares and the balance in cash.
The Rights Offer was not underwritten.
Rights Offer Shares will be issued and posted to certificated shareholders in
certificated form on or about Monday, 20 September 2010.
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, 20 September 2010.
Johannesburg
20 September 2010
Corporate and Designated Adviser
Grindrod Bank Limited
Date: 20/09/2010 15:34:01 Produced by the JSE SENS Department.
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