| Mon 31 Oct 2011, 16:00 | | ADW - African Dawn Capital Limited - Results of the rights offer |
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ADW
ADW
ADW - African Dawn Capital Limited - Results of the rights offer
AFRICAN DAWN CAPITAL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/020520/06)
JSE code: ADW
ISIN: ZAE000060703
("Afdawn" or "the company" or "the Group")
RESULTS OF THE RIGHTS OFFER
1. Results of the Rights Offer
Shareholders are referred to the announcements released on the Securities
Exchange News Service of the JSE Limited on 14 June 2011, 22 August 2011, 21
September 2011 and the circular dated 19 August 2011, relating to a R25 million
renounceable rights offer of 250 000 000 new Afdawn ordinary shares ("the Rights
Offer Shares") at a subscription price of 10 cents per Rights Offer Share ("the
Rights Offer").
The Rights Offer closed at 12:00 on Friday, 28 October 2011 and the results
thereof are set out in the table below.
Number of Rights Offer % of Rights Offer
shares shares
Rights Offer Shares available for
subscription
250 000 000 100%
Rights Offer Shares subscribed
for 182 022 919 73%
Rights offer shares to be issued
to the underwriters 67 977 081 27%
Sandown Capital Proprietary Limited ("Sandown Capital"), PCI Fintrade
Proprietary Limited ("PCI") and Imperial Crown 377 Proprietary Limited
("Imperial Crown"), jointly the Underwriters, agreed to partially underwrite the
rights offer up to a maximum of R 12 450 000, represented by 124 500 000 rights
offer shares.
The Underwriters will settle the issue price of the rights offer shares to be
issued to them, and for which they will subscribe for, pursuant to their
respective underwriting obligations, in cash as follows:
Maximum Rights Offer Shares issued Subscription Shares issued
shares available for cash consideration for cash -
Underwrite fee
Sandown 54 600 065 20 399 935 R 7 500 000 3 000 000
Capital
PCI 9 282 011 7 717 989 R 1 700 000 510 000
Imperial 4 095 005 3 404 995 R 750 000 225 000
Crown
Total 67 977 081 31 522 919 R 9 950 000 3 735 000
2. Issue of Rights Offer Shares
Share certificates will be posted to holders of certificated shares who have
followed their rights, on Monday, 31 October 2011. The Central Securities
Depository Participant ("CSDP") or broker accounts of holders of dematerialised
shares or their renouncees, who have followed their rights, will be credited
with the Rights Offer Shares and debited with any
payments due on Monday, 31 October 2011.
3. Summary of capital raised
Rights Issue: R18 202 292
Underwriting - Rights offer shares issued: R6 797 708
Underwriting - Shares Issued for cash: R3 152 292
Convertible Bonds: R11 700 000
Total capital raised: R39 852 292
4. Appreciation
The Company would like to express its appreciation to both the shareholders and
underwriters which ensured the successful conclusion of its capital raising.
31 October 2011
Designated Advisor
Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 31/10/2011 16:00:29 Produced by the JSE SENS Department.
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