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JDH
JDH
JDH - John Daniel Holdings Limited - Lazaron rights offer results
announcement and opening of general offer
JOHN DANIEL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1998/013215/06)
Share code: JDH
ISIN: ZAE000136677
("JDH")
LAZARON BIOTECHNOLOGIES (SA) LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 2004/004630/06)
(Lazaron")
LAZARON RIGHTS OFFER RESULTS ANNOUNCEMENT AND OPENING OF GENERAL OFFER
The board of directors of Lazaron advise shareholders that the non-
renounceable, partly underwritten rights offer of up to R4.4 million at the
rights offer price of 1 cent per share ("Rights Offer") as detailed in the
circular to shareholders on 22 October 2011 was concluded on 20 January
2012.
A total of R3 209 539.53 (320 953 953 shares) was raised through the take up
of rights as well as through excess applications.
JDH, the underwriter, agreed to partially underwrite the Lazaron rights
offer to a minimum amount of R1.5 million. JDH held 13 456 408 shares prior
to the rights offer and took up 150 000 000 Lazaron rights offer shares in
terms of the underwriting agreement. JDH will accordingly hold 44.18% of the
issued share capital of Lazaron after the issue of rights offer shares.
Shareholders are referred to the joint JDH and Lazaron announcement made on
29 December 2011 which detailed that all the ordinary and special
resolutions tabled at the Lazaron general meeting held on 6 December 2011
and relating to the corporate actions detailed in the circular to Lazaron
shareholders which was posted on 7 November 2011, were approved by the
requisite majority of Lazaron shareholders, potentially excluding the
resolution granting a waiver of a mandatory offer by JDH to Lazaron
shareholders.
The waiver was requested from Lazaron shareholders in the event that JDH
trigger a shareholding of equal to or greater than 35% in Lazaron as a
result of underwriting the Lazaron rights offer.
The Company applied to the Takeover Regulation Panel ("TRP") for a Ruling
waiving the requirement to make a mandatory offer and the TRP granted the
Ruling.
The general offer, whereby JDH will increase its shareholding in Lazaron
through the exchange of 5 Lazaron shares for 1 JDH shares opened on Monday,
23 January 2012 and will close on Friday, 9 March 2012.
The results of the general offer will be announced on SENS on or about 12
March 2012.
Johannesburg
31 January 2012
Sponsor
Arcay Moela Sponsor (Pty) Ltd
Date: 31/01/2012 17:02:10 Produced by the JSE SENS Department.
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