Zarara Energy Limited - Results Of The Odd-lot Off
announcement
(formerly Mawenzi Resources Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1895/001078/06)
("Zarara")
Share code: ZRR ISIN Code: ZAE 000032777
Results of the odd-lot offer and cautionary announcement
1. Introduction
Shareholders are advised that the odd-lot offer to shareholders holding less
than 1 000 Zarara ordinary shares ("shares") on Friday 27 July 2001, closed
on Friday 31 August 2001 ("the odd-lot offer").
The odd-lot offer granted shareholders the option to retain their odd-lot
holdings, purchase sufficient additional shares in order to increase their
holdings to 1 000 shares or to sell their odd-lot holdings.
2. Results of the odd-lot offer
Number of
shares
Retained holdings by election 3 323
Purchased shares to increase odd- 45 554
lot holdings
Odd-lot holdings sold 804 357
As a result of the odd-lot offer, the number of shareholders have reduced
from approximately 4 840 to approximately 924 shareholders, equivalent to a
reduction of approximately 81%.
3. Dispatch of new share certificates and cheques
New share certificates were posted to shareholders who hold certificated
shares, by registered post on Monday 3 September 2001 and, if applicable,
cheques in respect of fractions of shares arising on consolidation of the
shares, will be posted by ordinary mail to the relevant shareholders, at the
risk of such shareholders on Wednesday 5 September 2001, provided that their
documents of title have been surrendered by 14:00 on Wednesday 29 August
2001, or within five business days of surrender of their documents of title,
whichever is the later.
New share statements were posted to shareholders who hold dematerialized
shares, by ordinary mail, on Monday 3 September 2001 and, if applicable,
payment will be effected by the Central Securities Depositary Participant
("CSDP") or brokers on Wednesday 5 September 2001, provided that the CSDP or
broker has received the shareholders' instructions by the stipulated time.
Cautionary announcement
Shareholders are advised that Zarara is involved in discussions which, if
successfully concluded, may have an impact on the price at which Zarara
shares trade on the JSE Securities Exchange South Africa. Accordingly,
shareholders are advised to exercise caution in their dealings in Zarara
shares until a further announcement is made.
Illovo
4 September 2001
Corporate law advisers and consultants
Edward Nathan & Friedland
(Registration number 1999/026464/07)
Sponsor
Brait
ENDS.
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