Blueskeye Private Equity
Moulded Medical Supplies Limited
(Registration number 1995/003771/06)
("Mouldmed")
(JSE Code: MUM & ISIN Code: ZAE0000013751)
TERMINATION OF ISSUE FOR CASH TO BLUESKEYE PRIVATE EQUITY
1. INTRODUCTION
Shareholders are referred to the announcement dated 7 September 2001 and the
general meeting on 15 October 2001 at which specific approval was obtained
to issue 8 000 000 Mouldmed shares to Blueskeye Private Equity (Pty) Limited
("BPE") for a total investment of R2 million. These shares were to be
issued at 25 cents per share in tranches of 1 million shares a month for
each month from 1 September 2001 until 1 April 2002.
Due to various problems at BPE, BPE was unable to perform in full in terms
of the subscription agreement. Mouldmed therefore cancels the agreement and
will not issue any further shares to BPE in exchange for it subscribing for
the said shares. To date Mouldmed has received R1,064,956 from BPE and has
issued 4,000,000 ordinary shares to BPE which shares BPE would retain. The
balance of 259 824 ordinary shares will be issued to BPE in due course. BPE
further had the option in terms of the subscription agreement to appoint a
board member. Due to the termination of the subscription agreement, this
option lapses.
2. FINANCIAL EFFECTS
The following table sets out the revised financial effects of the issue for
cash on the preliminary results of Mouldmed for the year ended 28 February
2002 as disclosed in the announcement dated 5 September 2001:
Prior to After the Percent Issue Percent
the Issue Issue for age for age
for cash cash* change cash change
(Previousl (after
y)**** termina
tion)**
***
Headline (2,8) (2,2)** 21,4% (1,8)** 34,1%
earnings
per share
(cents)
Earnings 0,6 1,1** 83,3% 1,4** 137,4%
per share
(cents)
Net asset 54,3 56,5*** 4l,1% 53,9*** (0,8%)
value per
share
(cents)
* Assuming the issue for cash was effective on 1 March 2000 and
interest of 8% less taxation was earned on the proceeds
** Based on 92 000 000 issued shares prior to the issue for cash and
95 673 216***** (97 670 000****) weighted average issued shares thereafter
*** Based on 92 000 000 issued shares prior to the issue for cash and
96 259 824 (100 000 000****) issued shares thereafter
**** As disclosed in the announcement dated 5 September 2001
***** Based on the termination of the subscription agreement
Cape Town
25 March 2002
SPONSOR
EXCHANGE SPONSORS (PTY) LIMITED
(Registration number: 1999/024433/07)
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
