| Mon 20 Dec 2010, 9:00 | | NEP - New Europe Property Investments plc - Results of the rights offer |
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NEP
NEP
NEP - New Europe Property Investments plc - Results of the rights offer
New Europe Property Investments plc
(Incorporated and registered in the Isle of Man with registered number
001211V)
(Registered as an external company with limited liability under the laws of
South Africa, registration number 2009/000025/10)
AIM share code: NEPI
JSE share code: NEP
ISIN Code: IM00B23XCH02
("NEPI" or "the company")
RESULTS OF THE RIGHTS OFFER
Shareholders are referred to the rights offer to NEPI shareholders which
closed on Friday, 17 December 2010 ("the rights offer") and are advised that
in respect of the 15 000 000 NEPI shares ("new NEPI shares" or "rights offer
shares") which were offered, shareholders and/or their renouncees applied for
a total of 15 000 000 new NEPI shares (100%).
The applications included excess applications for 5 984 887 new NEPI shares of
which 1 536 224 new NEPI shares will be allocated equitably based on the
number of shares held by the shareholders concerned and the number of excess
shares applied for, taking cognisance of the number of shares and rights held
by the shareholder immediately 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.
Following the issue of the new NEPI shares, the total issued share capital of
the company will increase to 76 993 734 ordinary shares.
It is expected that the new NEPI shares will commence trading on the London
Stock Exchange and the JSE Limited today, 20 December 2010, from 8.00 a.m UK
time and 9.00 am SA time, respectively.
For shareholders on the UK share register, it is expected that the new NEPI
shares in uncertificated form will be credited to CREST accounts as soon as
practicable after 8.00 a.m. UK time today, 20 December 2010, and that share
certificates in respect of new NEPI shares in certificated form will be
despatched to shareholders by 29 December 2010.
Dematerialised shareholders on the SA share register who have subscribed for
rights offer shares will have their accounts debited and updated by their
CSDP/broker on Monday, 20 December 2010. Certificated shareholders on the SA
share register who have subscribed for rights offer shares will have
certificates posted to them on Wednesday, 22 December 2010.
Dematerialised shareholders on the SA share register who applied for excess
rights offer shares will have the excess shares allocated to them debited to
their accounts by their CSDP/broker on Wednesday, 22 December 2010.
Certificated shareholders on the SA share register who applied for excess
rights offer shares will have certificates and/or refund cheques posted to
them on or about Wednesday, 22 December 2010.
The company confirms that as the company`s central management and control is
considered to be outside of the United Kingdom, the City Code on Takeovers and
Mergers in the United Kingdom ("the Takeover Code") does not apply to the
company. Shareholders are advised that should the composition of the company`s
board change in the future, the Takeover Code may apply to the company in the
future.
All terms defined in the circular to NEPI shareholders in respect of the
rights offer, dispatched on 29 November 2010 shall have the same meaning in
this announcement.
20 December 2010
For further information please contact:
New Europe Property Investments plc +40 74 432 8882
Martin Slabbert
Nominated Adviser and Broker +44 20 7131 4000
Smith & Williamson Corporate Finance Limited
Azhic Basirov/Charles Combe
Corporate advisor, legal advisor as to South African +27 11 283 0042
law and JSE sponsor
Java Capital
Date: 20/12/2010 09:00:01 Produced by the JSE SENS Department.
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