| Mon 11 Jul 2011, 13:22 | | RAR - Rare Holdings Limited - Results of the claw-back offer |
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RAR
RAR
RAR - Rare Holdings Limited - Results of the claw-back offer
RARE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration Number: 2002/025247/06
Share Code: RAR ISIN: ZAE000092714
("the Company" or "RARE")
RESULTS OF THE CLAW-BACK OFFER
1 INTRODUCTION
Shareholders are referred to the announcement released on SENS on 14 April
2011 and the circular to shareholders dated 20 June 2011, setting out
details of a subscription by Stafric Investments and Management Services
(Proprietary) Limited ("Stafric") for the right to be allotted 200 000 000
new ordinary shares ("shares") at 20 cents per share ("the subscription")
and a renounceable claw-back offer ("the claw-back offer") to RARE
shareholders.
In terms of the claw-back offer, RARE offered for subscription by way of
letters of allocation to its shareholders recorded in the register as such
on Friday, 17 June 2011 ("the record date"), 200 000 000 shares at an issue
price of 20 cents per share in the ratio of 2.25 shares for every 1 share
held on the record date.
2 RESULTS OF THE CLAW-BACK OFFER
Applications for 10 342 472 shares ("applications"), constituting 5.17% of
the subscription, were received from shareholders (or their renouncees).
The subscription price of R2 068 494.40 in respect of the applications will
be refunded by RARE to Stafric. The balance of 189 657 528 shares,
constituting 94.83% of the subscription, not applied for by RARE
shareholders and their renouncees, has been credited to Stafric`s Central
Securities Depository Participant.
The claw-back offer did not include the right for shareholders to apply for
excess shares.
Following the finalisation of the claw-back offer, Stafric holds 189 657
528 shares, representing 65.68% of RARE`s issued share capital.
Johannesburg
11 July 2011
Designated advisor: PSG Capital (Proprietary) Limited
Date: 11/07/2011 13:22:31 Produced by the JSE SENS Department.
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