| Wed 2 Feb 2011, 9:00 | | RIN - Redefine Properties International Limited - Investment acquisition and |
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RIN
RIN
RIN - Redefine Properties International Limited - Investment acquisition and
issue of equity
Redefine Properties International Limited
(formerly Kalpafon Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2010/009284/06)
JSE share code: RIN ISIN Code: ZAE000149282
("RIN")
Set out below is an announcement which was released by Redefine International
plc, the AIM-listed subsidiary of RIN, on the Regulatory News Service ("RNS")
of the London Stock Exchange today.
"Redefine International plc
("Redefine International" or "the Company")
INVESTMENT ACQUISITION AND ISSUE OF EQUITY
Redefine International, the AIM listed property investment and development
company, announces that it has acquired the remaining 19.54% of Kalihora
Holdings Limited ("Kalihora") which it did not already hold for a total
purchase price of GBP1,007,169. The total purchase price will be settled in a
combination of cash and the issue of ordinary shares in the Company.
The Company has placed 1,694,000 new Redefine International shares ("the
Placing Shares") at a subscription price of 54.5 pence per share with the
minority shareholders of Kalihora ("the Placing"). The Placing Shares
represent approximately 0.4 per cent. of the current issued share capital of
the Company. The balance of the purchase price of GBP83,930 will be settled
in cash.
Kalihora, a company that owns two COOP stores in Switzerland, was 80.46%
owned by the Company, prior to the Placing.
Commenting on the transaction, Chairman Gavin Tipper said:
"This acquisition is in line with the Company`s stated strategy of
simplifying the group ownership structure by acquiring minority shareholder
interests in underlying investments over time".
An application has been made for the Placing Shares to be admitted to trading
on AIM and it is expected that such admission will occur on or around 4
February 2011 and these shares will rank pari passu in all respects with the
existing ordinary shares in issue.
In accordance with Rule 2.10 of the Takeover Code in the UK, Redefine
International confirms that, once the Placing Shares have been admitted to
trading on the AIM market of the London Stock Exchange, there will be
412,898,995 ordinary shares of 1 pence each in issue under International
Securities Number GB00B13PT348.
For further information, please contact:
Redefine International plc +27 (0)21 683 3829
Gavin Tipper - Chairman
Nominated Adviser & Broker to Redefine International plc +44 (0)203 205 7500
Singer Capital Markets
Jeff Keating
Redefine International Fund Managers Limited +1 (284) 494 9820
Miles Walton"
2 February 2011
Sponsor to Redefine Properties International Limited
Java Capital
Date: 02/02/2011 09:00:01 Produced by the JSE SENS Department.
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