McCarthy Retail Limited
(Incorporated in the Republic of South Africa)
(Registration number 1991/003245/06)
("McRetail")
Ordinary shares: JSE code: MCT
ISIN number:ZAE 000004354
Debentures: JSE code: MCTD
ISIN number:ZAE 000004362
Last day to register for rights offer
Proposed rights offer
Rand Merchant Bank is authorised to announce that the board of directors of
McRetail has resolved to raise R870 million by way of a rights offer of
ordinary shares and fixed rate compulsorily convertible cumulative
redeemable preference shares ("the rights offer").
The rights offer is conditional upon:
(i) McRetail shareholders and debenture holders approving the resolutions
necessary for McRetail to implement the rights offer at their respective
general meetings convened for Friday 31 August 2001;
(ii) the JSE Securities Exchange South Africa approving the necessary
documents and granting the required listing for the letters of allocation
and rights offer shares; and
(iii) the Registrar of Companies registering the rights offer documents.
Purpose of the rights offer
The proceeds from the rights offer will be utilised by McRetail to reduce
debt and strengthen its balance sheet.
Notice of last day to register
The last day to register as a McRetail shareholder or debenture holder in
order to participate in the rights offer will be by 16:00 on Friday 7
September 2001.
Durban
24 August 2001
Merchant bank and sponsor
RAND MERCHANT BANK
CORPORATE FINANCE
A Division of FirstRand Bank Limited
Attorneys
DENEYS REITZ
ATTORNEYS
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