| Fri 22 Mar 2002, 0:00 | | Glotec - Rights Offer Announcement |
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GLOBAL TECHNOLOGY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1996/009809/06)
("Glotec" or "the company")
ISIN Code: ZAE 000016820
Share code: GLT
LAST DAY TO REGISTER FOR RIGHTS OFFER AND DECLARATION DATA
The directors of Glotec have resolved to raise approximately R19,7 million
by way of a rights offer of new Glotec shares to shareholders registered at
the close of business on Friday, 12 April 2002 ("the record date"). Global
Technology Investment Holdings (Proprietary) Limited ("GTIH") has a loan
account in Glotec amounting to R16,1 million as at 28 February 2002 which it
wishes to effectively capitalise, in part or in whole, and, accordingly, the
same rights will be extended to other shareholders. GTIH has irrevocably
undertaken to follow its rights, amounting to approximately R11,4 million
and will underwrite the remainder of the rights offer to the extent of the
balance of its loan account which approximates R4,7 million.
The salient dates and times for the rights offer are as follows:
2002
Last day to trade for rights offer in order to settle Friday, 12 April
by the record date and to qualify to participate in the
rights offer (cum entitlement) on
Listing of letters of allocation on the JSE commences Monday, 15 April
at 09:00 on
Shares commence trading ex-rights on the JSE at 09:00 Monday, 15 April
on
Record date for rights offer at the close of business Friday, 19 April
on
Rights offer opens at 09:00 on Monday, 22 April
Last day for trading in letters of allocation on the
JSE in order to settle by Friday, 17 May 2002 on Monday, 06 May
Rights offer closes at 11:00 on Friday, 17 May
Record date for letters of allocation on Friday, 17 May
Listing of new shares on the JSE commences at 09:00 on Monday, 20 May
Results of rights offer announced in the press and on Monday, 20 May
SENS on or about
Refund cheques, if applicable, in respect of Monday, 20 May
unsuccessful excess applications, posted on
Entitlements in terms of the rights offer available on Monday, 20 May
All times referred to are South African times.
A circular giving full details of the rights offer will be posted to
shareholders on 22 April 2002. A letter of allocation will be posted to
shareholders who have not dematerialised their Glotec shares. Shareholders
are reminded that their shares will need to be dematerialised before
shareholders will be able to trade the letters of allocation.
Johannesburg
22 March 2002
Corporate Adviser Sponsor
Arcay Group Gensec
