Glotec - Availability Of Temenos Ag ("temenos") Pr
GLOBAL TECHNOLOGY LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 1996/009809/06)
("GLOTEC")
AVAILABILITY OF TEMENOS AG ("TEMENOS") PRELIMINARY PROSPECTUS
Shareholders are advised that, further to the notice published on SENS on
Wednesday 30 May, of the intention of Global Technology Limited's
international partner, TEMENOS, to apply for a listing on the Swiss Stock
Exchange, a preliminary prospectus is now available from Glotec's registered
office. The names to the preliminary prospectus are:
-Deutsche Bank - Global Co-ordinator, Bookrunner and Joint Lead Manager
-P Morgan - Joint Lead Manager
-Bank Julius Baer & Co Ltd - Co-Manager
Should you wish to have a copy of the preliminary prospectus e-mailed to
you, please contact:
Justine Teiwes
Arcay Financial Communications
Tel: 011 480-8529
Fax: 011 480-8556
E-mail: teiwj@arcay.co.za
Shareholders are asked to note that no public offering will be taking place
in South Africa. However, TEMENOS forms a substantial part of Glotec's net
asset value. As TEMENOS is currently undergoing a book build exercise with
major institutions in Europe, the final IPO value will be determined by
market demand.
As an indication however, the initial public offering (IPO) price range
indicated in the preliminary prospectus is CHF25 to CHF29 (CHF = Swiss
Francs) per TEMENOS share, which, at the current Swiss Franc/US Dollar
exchange rate of US$1 = CHF1.797, translates into a TEMENOS IPO valuation of
US$720 million to US$835 million. After the IPO is concluded, Glotec will
own 15% of TEMENOS, which translates into a value of between R872 million
and R1.011 billion, or between R2.21 and R2.56 per Glotec share, at the
current Swiss Franc/Rand exchange rate of CHF1 = R4.496.
By order of the Board
Arcay Client Support (Pty) Ltd
Company secretary
Johannesburg
Xx June 2001
Arcay Group
JOINT CORPORATE ADVISOR
Gensec Bank Limited
SPONSOR AND JOINT CORPORATE ADVISOR
Arcay Financial Communications
INVESTOR RELATIONS
"This announcement is not being published in the United States of America
and should not be distributed to United States persons or publications with
a general circulation in the United States. This document does not
constitute an offer or invitation to subscribe for or purchase any
securities. In addition, the securities of TEMENOS GROUP AG have not been
registered under US securities laws and may not be offered, sold or
delivered within the United States or to US persons absent registration
under, or an applicable exemption from, the registration requirements of the
United States securities laws."
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
