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
RESULTS OF RIGHTS OFFER
The directors of Glotec are pleased to announce the results of the rights
offer of 24 644 234 ordinary shares in GLOTEC at an issue price of 80 cents
per share:
- Shareholders in Glotec, their renouncees and transferees subscribed for
23 006 672 ordinary Glotec shares, equivalent to 93,4% of the total number
of shares offered in terms of the rights offer;
- The balance of 1 637 562 Glotec ordinary shares available under the rights
offer were allocated to Glotec shareholders, their renouncees and
transferees who applied for excess shares on the basis that all applications
for excess shares of 10 000 shares and below will be allocated in full. For
excess applications of more than 10 000 shares a proportional allocation of
approximately 20% will be made in relation to the excess applications
received, subject to a minimum of 10 000 shares. In total, applications
were received for 7 552 834 excess shares, representing an over subscription
of approximately 24%.
Dematerialised shareholders` safe custody accounts have been credited with
their entitlements by their Central Securities Depository Participants or
brokers. The entitlements due to certificated shareholders have been
credited in electronic form to a custodial account at Computershare
Custodial Services Limited, except where a share certificate has been
requested in which case it will be posted to the shareholder concerned.
Johannesburg
15 May 2002
Corporate Adviser Sponsor
Arcay Group Limited Gensec Bank Limited
Date: 15/05/2002 03:51:00 PM Produced by the SENS Department
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