| Mon 6 Feb 2012, 17:32 | | RAR - Rare Holdings Limited - Results of the Claw-Back Offer |
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RAR
RAR
RAR - Rare Holdings Limited - Results of the Claw-Back Offer
RARE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration Number: 2002/025247/06
Share Code: RAR ISIN: ZAE000092714
("the Company" or "RARE")
RESULTS OF THE CLAW-BACK OFFER
1 INTRODUCTION
Shareholders are referred to the announcement released on SENS on 23
December 2011 and the circular to shareholders dated 16 January 2012,
setting out details of a subscription by Stafric Investments and Management
Services Proprietary Limited ("Stafric") for the right to be allotted 250
000 000 new ordinary shares ("shares") at 12 cents per share ("the
subscription") and a renounceable claw-back offer ("the claw-back offer")
to RARE shareholders.
In terms of the claw-back offer, RARE offered for subscription by way of
letters of allocation to its shareholders recorded in the register as such
on Friday, 13 January 2012 ("the record date"), 250 000 000 shares at an
issue price of 12 cents per share in the ratio of 86.58009 shares for every
100 shares held on the record date.
2 RESULTS OF THE CLAW-BACK OFFER
Applications for 40 325 748 shares ("applications"), constituting 16.13% of
the subscription, were received from shareholders (or their renouncees).
The subscription price of R4 839 089.76 in respect of the applications will
be refunded by RARE to Stafric. The balance of 209 674 252 shares,
constituting 83.87% of the subscription, not applied for by RARE
shareholders and their renouncees, has been credited to Stafric`s Central
Securities Depository Participant.
The claw-back offer did not include the right for shareholders to apply for
excess shares.
Following the finalisation of the claw-back offer, Stafric holds 328 734
335 shares, representing 68.68% of RARE`s issued share capital.
Johannesburg
6 February 2012
Designated advisor: PSG Capital Proprietary Limited
Date: 06/02/2012 17:32:08 Produced by the JSE SENS Department.
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