MONEX LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1968/010805/06)
("Monex")
TERMS OF THE RIGHTS OFFER
1. TERMS OF THE RIGHTS OFFER
Further to the announcement of 29 June 2001, the board of directors of Monex
has resolved to proceed with a renounceable rights offer of 348 660 618 new
Monex ordinary shares at 65 cents per share in order to raise R226,6 million
(before expenses) ("the rights offer").
The new Monex ordinary shares will be offered in the ratio of 3,2 new Monex
ordinary shares for every 1 Monex ordinary share held on Friday, 10 August
2001 and will, upon issue, rank pari passu in all respects with the existing
Monex ordinary shares.
2. APPLICATION FOR LISTING
Application has been made to the JSE Securities Exchange South Africa ("the
JSE") for a listing of the renounceable (nil paid) letters of allocation
("letters of allocation") and the 348 660 618 new Monex ordinary shares of 1
cent each to be issued in terms of the rights offer.
3. UNDERWRITING
BoE Bank Limited has fully underwritten the rights offer.
4. DOCUMENTATION
Subject to the approval of the JSE, the rights offer circular, to which the
letter of allocation will be attached, will be sent by registered post to
the shareholders entitled thereto on Friday, 17 August 2001.
5. REMINDER OF LAST DAY TO REGISTER
Persons who have purchased ordinary shares in Monex are reminded that the
last day to register in order to participate in the rights offer will be
Friday, 10 August 2001.
6. CONDITIONS PRECEDENT
The rights offer is conditional upon:
(i) the approval by Monex shareholders in general meeting on Tuesday, 7
August 2001 ("the general meeting") of the resolutions necessary to increase
Monex's authorised share capital and placing the authorised but unissued
ordinary shares of Monex under the control of the directors of Monex;
(ii) the JSE approving the rights offer documents and granting listings for
the letters of allocation and the new Monex ordinary shares; and
(iii) the Registrar of Companies registering the special resolution
regarding the increase in Monex's authorised share capital and the necessary
rights offer documents.
7. FURTHER ANNOUNCEMENT
A further announcement giving the results of the general meeting and the
salient dates of the rights offer will be published on or about Wednesday, 8
August 2001.
Cape Town
01 August 2001
Merchant bank
BOE Merchant Bank
A Division of BOE Bank Limited
Co. Reg. No. 1951/000847/06
Lead sponsor
PricewaterhouseCoopers
Corporate Finance (Pty) Ltd
(Registration number 1970/003711/07)
Sponsor
BoE Securities (Pty) Ltd
Member of the JSE Securities Exchange South Africa
Co. Reg. No. 1995/012240/07
Attorneys
Sonneberg Hoffmann & Galombik Inc.
(Registration number 1993/000565/21)
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