AUTHORISED SHARE CAPITAL
MONEX LIMITED
(Registration number 1968/010805/06)
("Monex" or "the Company")
* WITHDRAWAL OF CAUTIONARY;
* PROPOSED RIGHTS OFFER; and
* INCREASE IN AUTHORISED SHARE CAPITAL
1. INTRODUCTION
With reference to the cautionary announcement included in the Monex annual
results published on 7 June 2001, BoE Merchant Bank is authorised to
announce that BoE Limited, after due consideration and consultation with
certain significant Monex shareholders, has decided not to make an offer to
Monex shareholders to acquire their ordinary shares. Accordingly, Monex
shareholders need no longer exercise caution when dealing in their ordinary
shares on the JSE Securities Exchange South Africa.
2. RIGHTS OFFER
In light of the above and in order to reduce the Company's borrowings, the
directors of Monex have decided to proceed with a renounceable rights offer
to raise approximately R220 million ("the proposed rights offer"). BoE Bank
Limited has undertaken to underwrite the proposed rights offer.
It is anticipated that the last day to register and the terms of the
proposed rights offer will be published towards the end of July 2001.
3. INCREASE IN AUTHORISED SHARE CAPITAL
The Company's current authorised but unissued share capital will not be
sufficient to issue new ordinary shares in terms of the proposed rights
offer. Accordingly, the authorised share capital of Monex will be increased
by 200 000 000 ordinary shares of 1 cent each, to 500 000 000 ordinary
shares of 1 cent each, subject to shareholder approval at a general meeting
to be held on or about 7 August 2001. A circular in this regard will be
posted to Monex shareholders on or about 16 July 2001.
Cape Town
29 June 2001
Merchant bank
BOE Merchant Bank
A Division of BOE Bank Limited
Co. Reg. No. 1951/000847/06
Sponsor
BoE Securities (Pty) Ltd
Member of the JSE Securities Exchange South Africa
Co. Reg. No. 1995/012240/07
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