AET - Alert Steel - Alert Steel to proceed with Rights Offer
AET
AET
AET - Alert Steel - Alert Steel to proceed with Rights Offer
ALERT STEEL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2003/005144/06)
JSE code: AET & ISIN: ZAE000092847
("Alert Steel" or "Alert")
ALERT STEEL TO PROCEED WITH RIGHTS OFFER
Pretoria, 2 September 2011 - AltX listed steel retailer Alert Steel announced
today that it would proceed with a partially underwritten rights offer to raise
up to R50 million following the fulfillment of all the conditions precedent.
In terms of the rights offer, 1 515 151 515 new Alert Steel ordinary shares will
be offered to shareholders at a rights offer price of 3.3 cents per rights offer
share in the ratio of 591.79 rights offer shares for every 100 Alert ordinary
shares held. The underwriters will underwrite up to a maximum of R36.3 million,
being 72.60 % of the rights offer. The rights offer price represents a discount
of 80.59% to the 30 day volume weighted average price of Alert Steel ordinary
shares as at 19 April 2011.
For further information call Johan du Toit on 082 416 8888
Issued by du Plessis Associates on behalf of Alert Steel Holdings Limited.
dPA contact Helen McKane Tel : +27 11 728 4701, Fax: +27 11 728 2547, Mobile:
082 330 2034 or e-mail: alertsteel@dpapr.com
website: www.alertsteel.co.za
Designated Adviser
Vunani Corporate Finance
Date: 02/09/2011 11:34:44 Produced by the JSE SENS Department.
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