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ABL ABLP
ABL
ABL - African Bank Investments Limited - Proposed placing and issue of up to 15
000 000 preference shares
AFRICAN BANK INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registered bank controlling company)
(Registration number 1946/021193/06)
Ordinary share code: ABL ISIN: ZAE000030060
Preference share code: ABLP ISIN: ZAE000065215
("ABIL" or "the Company")
PROPOSED PLACING AND ISSUE OF UP TO 15 000 000 PREFERENCE SHARES
Introduction
Shareholders are advised that ABIL is considering issuing up to 15 000 000
preference shares to selected investors for cash by way of a private placement.
The shares will rank on a pari passu basis with its existing listed preference
shares.
ABIL wishes to raise cost effective permanent share capital as part of a general
capital management programme. It is intended that capital raised through the
issue of preference shares will be applied towards the subscription by ABIL of
ordinary shares in its wholly owned subsidiary, African Bank Limited.
Placing of the preference shares
Placements of preference shares will be made by ABSA Capital (a division of ABSA
Bank Limited) and Investec Capital Markets (a division of Investec Bank Limited)
through a joint bookbuilding process, in terms of which selected investors will
be invited to participate in the proposed issue. The issue of preference shares
will be conditional upon the fulfilment of the conditions precedent referred to
below.
- Selected investors may not be non-public shareholders or related parties to
the Company in terms of the JSE Limited Listings Requirements.
- The minimum subscription amount per principal investor will be R100 000.
Conditions precedent
The issue of any preference shares to investors following the successful
completion of the bookbuilding and placement process will be conditional upon
the fulfilment of the following conditions precedent:
- the approval by ABIL shareholders of the requisite resolutions to issue the
preference shares;
- the approval by the board of directors of ABIL of the terms of the issue of
the preference shares;
- the approval of the listing of the preference shares to be issued by the JSE
Limited; and
- the requisite approval of the Registrar of Banks.
Circular
Further announcements and a circular containing the details of the specific
issue of any preference shares for cash will be issued to shareholders in due
course.
Enquiries may be directed to:
ABIL
Nithia Nalliah
Financial director
(011) 256 9255
Gavin Jones
Executive Capital and Liability management
(011) 564 6868
ABSA Capital
Prasanna Nana
Head Debt Capital Markets
011 895 6927
Investec Capital Markets
Kenric Owen
Product and Distribution
011 286 9930
Midrand
21 February 2011
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 21/02/2011 17:37:05 Produced by the JSE SENS Department.
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