| Fri 25 May 2012, 12:54 | | AET - Alert Steel Holdings Limited - Finalisation information relating to the |
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AET
AET
AET - Alert Steel Holdings Limited - Finalisation information relating to the
partially underwritten Renounceable Rights Offer
ALERT STEEL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2003/005144/06)
JSE code: AET
ISIN: ZAE000092847
("Alert" or "the Company")
FINALISATION INFORMATION RELATING TO THE PARTIALLY UNDERWRITTEN RENOUNCEABLE
RIGHTS OFFER
1 Rights Offer Details
Shareholders are referred to the announcements dated 27 March 2012 and 15
May 2012 pertaining to a proposed R120 million rights offer, and are
advised that all conditions precedent have been fulfilled and that Alert
will accordingly proceed with the partially underwritten renounceable
rights offer of 4 285 714 286 new no par value ordinary shares in Alert
("Rights Offer Shares") at a subscription price of 2.8 cents per Rights
Offer Share in the ratio of 241.96943 Rights Offer Shares for every 100
Alert ordinary shares ("Alert Shares") held at the close of trade on
Friday, 8 June 2012 ("Rights Offer"). The Rights Offer Shares, once issued,
will rank pari passu in all respects with the existing Alert Shares in
issue.
No excess subscriptions will be permitted and there will be no minimum
subscription.
Shareholders are advised that the underwritten amount of the Rights Offer
is R76.8 million and not R102.5 million as previously disclosed in the
announcement dated 27 March 2012.
2 Salient dates and times
The salient dates and times pertaining to the Rights Offer have remained
the same as set out in the announcement dated 15 May 2012 and are as
follows:
2012
Last day to trade in Alert Shares in order to Friday, 1 June
qualify for participation in the Rights Offer
(cum entitlement)
Listing of letters of allocation (ISIN Monday, 4 June
ZAE000167623) on the JSE Limited ("JSE") at
commencement of trading
Alert Shares commence trading ex-rights on the Monday, 4 June
JSE at commencement of trading
Record date for participation in the Rights Offer Friday, 8 June
at the close of trade
Circular and form of instruction posted to Monday, 11 June
shareholders, where applicable
Rights Offer opens at commencement of trading Monday, 11 June
Dematerialised Shareholders` accounts at their Monday, 11 June
CSDP or broker automatically credited with their
entitlement
Certificated Shareholders` entitlements will be Monday, 11 June
credited to an account held with the transfer
secretaries
Last day to trade in letters of allocation on the Friday, 22 June
JSE
Listing of Rights Offer Shares subscribed for at Monday, 25 June
commencement of trading
Rights Offer closes - payments to be made and Friday, 29 June
form of instruction in respect of letters of
allocation lodged by certificated shareholders by
12:00
Record date for letters of allocation Friday, 29 June
Dematerialised Shareholders` accounts updated Monday, 2 July
with entitlements and debited by their CSDP or
broker and certificates posted to Certificated
Shareholders on or about
Results of Rights Offer announcement published on Monday, 2 July
SENS on or about
Notes:
1 Dematerialised Shareholders are required to notify their duly
appointed CSDP, banker or broker of their acceptance or otherwise of
the Rights Offer in the manner and time stipulated in the agreement
governing the relationship between such shareholders and their CSDP,
banker or broker.
2 All times indicated are South African times unless otherwise stated.
3 Share certificates may not be dematerialised or rematerialised between
Monday, 4 June 2012 and Friday, 8 June 2012, both days inclusive.
4 The CSDP or broker accounts of Dematerialised Shareholders will be
automatically credited with new Alert Shares to the extent to which
they have accepted the Rights Offer. Share certificates will be
posted, by registered post at the shareholders` risk, to Certificated
Shareholders in respect of the Rights Offer Shares which have been
accepted.
5 CSDPs or brokers effect payment in respect of Dematerialised
Shareholders on a delivery versus payment method.
3 Circular
A circular setting out detailed information relating to the Rights Offer,
incorporating revised listing particulars, and enclosing a Form of
Instruction will be posted to shareholders on Monday, 11 June 2012 ("the
Circular").
4. Foreign Shareholders
The Rights Offer does not constitute an offer in any area of jurisdiction
in which it is illegal to make such an offer and in such circumstances, the
Circular will be distributed for information purposes only.
Pretoria
25 May 2012
Designated advisor
QuestCo (Pty) Limited
Legal advisor
Prinsloo, Tindle & Andropoulos Inc.
Independent Reporting Accountants and Auditors
KPMG Inc.
Date: 25/05/2012 12:54:01 Produced by the JSE SENS Department.
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