| Thu 1 Aug 2002, 0:00 | | Finalisation Information Relating To The Rights Of |
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Finalisation Information Relating To The Rights Offer By Decillion
DECILLION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/011692/06)
Share code: DEC ISIN: ZAE000017612
("Decillion" or "the company")
FINALISATION INFORMATION RELATING TO THE RIGHTS OFFER BY DECILLION
1. Introduction
It was announced on 18 July 2002 that the directors had resolved to proceed
with a rights offer of convertible debentures to Decillion shareholders
based on their shareholdings at the close of business on Friday, 16 August
2002 ("the record date"). Since the announcement dated 18 July 2002, the
ratio of entitlement has been changed from 21 convertible debentures to
22,85568 convertible debentures for every 100 Decillion shares held on the
record date.
2. The purpose of the rights offer
The purpose of the rights offer is to raise additional capital which will be
utilised to further pursue business opportunities in the asset management
field.
3. Salient terms of the rights offer
Number of convertible debentures to be 46 556 788
offered
Ratio of entitlement 22,85568 convertible
debentures for every 100
Decillion shares held on
the record date
Rights offer price for each convertible 175 cents
debenture
Maximum amount to be raised R81 474 379
The rounded number of rights to convertible debentures to which shareholders
will become entitled will be determined by the ratio of entitlement.
The terms of the convertible debentures were set out in a circular to
shareholders dated 28 June 2002 and will also be included in the rights
offer circular.
The interest rate applicable to the convertible debentures has been fixed at
10% per annum, payable semi-annually, commencing on 31 January 2003.
4. Listing on the JSE Securities Exchange South Africa ("JSE")
The JSE has granted listings for :
- the 46 556 788 renounceable (nil paid) letters of allocation to be issued
pursuant to the rights offer from the commencement of trading on Monday, 12
August 2002 until the close of business on Friday, 30 August 2002; and
- a maximum of 46 556 788 convertible debentures from the commencement of
trading on Monday, 2 September 2002.
5. Conditions precedent
The conditions precedent to the rights offer have all been fulfilled.
6. Underwriting
The rights offer has been partially underwritten by Investec Asset
Management (Proprietary) Limited.
7. Salient dates and times
The salient dates and times for the rights offer are as follows:
2002
Last day to trade for the rights offer in Thursday, 8 August
order to settle by the record date and to
qualify to participate in the rights offer
(cum entitlement) on
Listing of and dealing in letters of Monday, 12 August
allocation on the JSE at the commencement of Monday, 12 August
business on
Shares commence trading ex-rights on the JSE
at the commencement of business on
Record date for purposes of determining the Friday, 16 August
shareholders entitled to participate in the
rights offer at the close of business on
Rights offer opens at the commencement of Monday, 19 August
business on
Circular and form of instruction posted to Monday, 19 August
certificated shareholders recorded on the
record date on
Certificated shareholders will have their Monday, 19 August
entitlements credited to a share custody
account at the transfer secretaries on
Circular and rights entitlement issued to Monday, 19 August
CSDP or broker of dematerialised shareholders
on
Last day for trading in letters of allocation Friday, 30 August
on the JSE in order to settle by Friday, 6
September 2002 on
Listing of convertible debentures on the JSE Monday, 2 September
at the commencement of business on
Rights offer closes at 14:30 and payment to Friday, 6 September
be made by certificated shareholders by that
time on
Record date for letters of allocation on Friday, 6 September
Entitlements in terms of the rights offer Monday, 9 September
available / posted on
Refund cheques, if applicable, posted to
certificated shareholders in respect of Monday, 9 September
unsuccessful excess applications on
CSDP/broker accounts credited with
convertible debentures and debited with any Monday, 9 September
payments due
Results of rights offer announced in the Tuesday, 10 September
press and on SENS on or about
Underwriter to settle any amounts owing on Tuesday, 10 September
Notes
The above dates and times are subject to change. Any such change
will be announced in the press and on SENS. All times referred to
in this circular are South African times.
No share certificates may be dematerialised or rematerialised
between Monday, 12 August 2002 and Friday, 16 August 2002, both days
inclusive.
Dematerialised shareholders or renounces are required to notify
their duly appointed CSDP or broker of their acceptance of the
rights offer in the manner and by the time stipulated in the
agreement governing the relationship between the shareholder and his
CSDP or broker.
8. Letters of allocation
Letters of allocation can only be traded in dematerialised form and
accordingly Decillion has issued all letters of allocation in dematerialised
form. The electronic record for certificated shareholders will be
maintained by Computershare Nominees (Proprietary) Limited to afford
certificated shareholders the same rights and opportunities as those
shareholders who have already dematerialised their Decillion shares.
Dematerialised shareholders entitled to participate in the rights offer must
make the necessary arrangements through their CSDP or broker regarding their
acceptance or otherwise of the rights offer.
9. Documentation
A circular, giving full details of the rights offer, will be posted to
shareholders on Monday, 19 August 2002.
Copies of the circular, in English, will be available from Monday, 19 August
2002 during normal business hours (Saturdays, Sundays and public holidays
excepted) from:
- the registered office of the company, 26 Sturdee Avenue, Rosebank,
Johannesburg; and
- the company`s transfer secretaries, Computershare Investor Services
Limited, 10th Floor, 11 Diagonal Street, Johannesburg.
Johannesburg
1 August 2002
Corporate adviser and Attorneys Reporting accountants
sponsor
Jowell Glyn & Marais Deloitte & Touche
Barnard Jacobs Mellet Inc.
Corporate Finance (Pty)
Ltd
Date: 01/08/2002 03:50:09 PM Produced by the JSE SENS Department
