| Tue 18 Oct 2011, 8:07 | | JDH - John Daniel Holdings Limited - Results of the rights offer and withdrawal |
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JDH
JDH
JDH - John Daniel Holdings Limited - Results of the rights offer and withdrawal
of cautionary announcement
JOHN DANIEL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1998/013215/06)
Share code: JDH ISIN: ZAE 000136677
("the Company")
RESULTS OF THE RIGHTS OFFER AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
The board of directors of the Company are pleased to announce that the rights
offer of up to R15 million at the rights offer price of 7 cents per share
("Rights Offer") as was detailed in the circular to shareholders on 26 September
2011, has been successfully subscribed for in its entirety by existing
shareholders, excess applications and the underwriter.
Escalator Capital Limited ("Escalator"), the underwriter, agreed to underwrite
to the amount of R13 587 000, resulting in Escalator being issued 194 179 641
ordinary shares. Escalator will accordingly hold 52.21% of the issued share
capital of JDH.
At a general meeting held on 17 October 2011, shareholders approved a waiver of
the requirement of Escalator to make a mandatory offer to minority shareholders
in the event that they exceeded 35% shareholding in the Company as a consequence
of underwriting the Rights Offer.
In addition, shareholders are referred to the withdrawal of cautionary
announcement dated 9 September 2011 regarding the Rights Offer and the
Acquisition of further shares in Lazaron, and shareholders are advised that the
negotiations regarding Vinguard Limited, a subsidiary of JDH, have also ended
and accordingly, shareholders are advised that the cautionary announcement in
this regard has been withdrawn.
Johannesburg
17 October 2011
Sponsor
Arcay Moela Sponsor (Pty) Ltd
Date: 18/10/2011 08:07:05 Produced by the JSE SENS Department.
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