| Fri 21 Jan 2011, 10:45 | | PMM - Premium Properties Limited - Rights Offer Finalisation Announcement |
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PMM
PMM
PMM - Premium Properties Limited - Rights Offer Finalisation Announcement
Friday, 21 January 2011
Premium Properties Limited
(Incorporated in the Republic of South Africa)
(Registration number 1994/003601/06)
JSE share code: PMM
ISIN: ZAE000009254
("Premium" or "the Company")
Rights Offer Finalisation Announcement
1. Introduction
Premium linked unitholders are referred to the announcement released on
SENS on Friday, 14 January 2011 wherein Premium announced the raising of
R400 million equity capital by way of a partially underwritten
renounceable rights offer of 26 666 667 new linked units to qualifying
unitholders at a price of 1500 cents per linked unit in the ratio of 20.5
rights for every linked unit held on the record date (the "rights
offer").
2. Conditions precedent
The board of directors of Premium is pleased to advise Premium linked
unitholders that all of the suspensive conditions pertaining to the
rights offer have been fulfilled. Accordingly the rights offer is now
unconditional and will be implemented in accordance with the timetable
set out in paragraph 3 below.
3. Salient dates and times
The salient dates and times in respect of the rights offer are set out
below:
2011
Last day to trade in Premium linked units on Friday, 28 January
the JSE in order to settle by the record
date and thus be recorded as a linked
unitholder in order to be entitled to
participate in the rights offer on
Premium linked units trade ex-rights offer Monday, 31 January
entitlement on the JSE from
Listing and trading on the JSE of the Monday, 31 January
letters of allocation from the commencement
of trade on
Record date in order to be entitled to Friday, 4 February
participate in the rights offer on
Rights offer opens at 09:00 and a circular Monday, 7 February
including a form of instruction to be mailed
to linked unitholders on
Letters of allocation credited to an Monday, 7 February
electronic account held at the transfer
secretaries in respect of holders of
certificated Premium linked units on
CSDP or broker accounts credited with Monday, 7 February
entitlements in respect of holders of
dematerialised Premium linked units on
Last day to trade in the letters of Friday, 18 February
allocation on the JSE in order to settle by
close of the rights offer on
Listing and trading on the JSE of rights Monday, 21 February
offer units commence at 09:00 on
Payment to be made and form of instruction Friday, 25 February
to be lodged with the transfer secretaries
by holders of certificated Premium linked
unitholders by 12:00 on
Rights offer closes at 12:00 on Friday, 25 February
Record date for the letters of allocation on Friday, 25 February
Rights offer units issued on Monday, 28 February
CSDP or broker accounts of holders of Monday, 28 February
dematerialised Premium linked units debited
and updated with rights offer units on
Results of the rights offer announcement Monday, 28 February
released on SENS on
Results of the rights offer announcement Tuesday, 1 March
published in the national press on
Notes:
1. All times indicated shown are South African times.
2. Premium linked units may not be dematerialised/re-materialised
between Monday, 31 January 2011 and Friday, 4 February 2011, both
days inclusive.
3. CSDPs effect payment in respect of dematerialised unitholders on a
delivery-versus-payment method.
4. CIRCULAR
The rights offer circular setting out the detailed terms of the rights
offer will be posted to linked unitholders on or about Monday, 7 February
2011.
Johannesburg
21 January 2011
Investment Bank and Sponsor
Nedbank Capital
Legal adviser
TWB & Partners
Reporting accountant
Grant Thornton
Date: 21/01/2011 10:45:01 Produced by the JSE SENS Department.
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implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
