| Thu 21 Jul 2011, 17:40 | | ABL/ABLP - African Bank Investments Limited - Results of private |
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ABL ABLP
ABL
ABL/ABLP - African Bank Investments Limited - Results of private
placement of a Tranche of 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 group")
RESULTS OF PRIVATE PLACEMENT OF A TRANCHE OF PREFERENCE SHARES
Introduction
Shareholders are referred to ABIL`s announcements of 21 February 2011
and 1 July 2011 in which shareholders were advised of the private
placement to selected investors of ABIL variable-rate, perpetual, non-
cumulative, non-participating preference shares ("preference shares"),
pursuant to receipt of approval for a specific issue for cash.
Results of private placement
A joint bookbuilding process was run by Absa Capital (the investment
banking division of Absa Bank Limited, and affiliated with Barclays
Capital) and Investec Capital Markets (a division of Investec Bank
Limited), which closed on 19 July 2011.
In aggregate, R242,619,517.25 in cash was raised pursuant to the private
placement. ABIL has allocated 3,042,251 preference shares at an issue
price per preference share of R79.75, including accrued dividends, (the
"additional preference shares") to selected investors (not being persons
considered to be non-public shareholders or related parties to the
Company in terms of the JSE Limited Listings Requirements and subject to
minimum subscription limits per principal institutional investor, (as
contemplated in section 96(1)(a) of the Companies Act, 2008) of R100 000
and per non-institutional investor of R1 000 000.)
The additional preference shares, which will rank pari passu with the
preference shares already in issue, will be issued and listed on the JSE
on Tuesday, 26 July 2011.
The capital raised through the issue will be applied towards the
subscription by ABIL of ordinary shares in its wholly owned subsidiary,
African Bank Limited.
Enquiries may be directed to Steven Kahanovitz
(skahanovitz@africanbank.co.za).
Midrand
21 July 2011
Arranger, Transaction Sponsor and Joint Bookrunner
Absa Capital
(the investment banking division of Absa Bank Limited and affiliated
with Barclays Capital)
Joint Bookrunner
Investec Capital Markets
(a division of Investec Bank Limited)
Legal Adviser to ABIL
Prinsloo, Tindle & Andropoulos Inc
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 21/07/2011 17:40:01 Produced by the JSE SENS Department.
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