| Fri 19 Jul 2002, 0:00 | | Jci - Terms And Salient Dates Of The Renounceable |
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JCI - Terms and salient dates of the renounceable rights offer
JCI LIMITED
(Formerly Consolidated African Mines Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1894/000854/06)
(JSE Share code JCD ISIN: ZAE 000039681)
("JCI ")
Terms and salient dates of the renounceable rights offer
1. Terms of rights offer
Shareholders of JCI are referred to the announcement dated 12 July 2002 in
which they were advised that JCI is to raise R155 million by way of an
underwritten renounceable rights offer of new JCI shares to JCI shareholders.
In terms of the rights offer JCI shareholders will be entitled to subscribe
for 344 455 249 new JCI shares at a subscription price of 45 cents per share, in
the ratio of 24,414 rights offer shares for every 100 JCI shares held by them at
the close of business on Friday, 2 August 2002.
The proceeds of the rights offer will be used to repay the loans made by BNC
Investments (Pty) Limited and Investage 170 (Pty) Limited ("the underwriters")
to JCI amounting to R155 million ("the underwriting loans"). The purpose of the
underwriting loans was to facilitate the implementation of the scheme of
arrangement in terms of which JCI acquired all of the issued shares of JCI Gold
Limited which it did not already own.
The underwriters have agreed to underwrite the rights offer and shall
subscribe for all of the rights offer shares not taken up by the JCI
shareholders ("the underwriters` shares"). The underwriters` obligations to pay
the subscription price in respect of the underwriters` shares shall be set-off
against JCI`s obligation to repay the underwriting loans.
2. Listings of rights offer shares and letters of allocation
The JSE Securities Exchange South Africa ("JSE") has granted listings for:
* 344 455 249 renounceable (nil paid) letters of allocation from the
commencement of trade on the JSE on Monday, 29 July 2002 to the close of trade
on Friday, 16 August 2002; and
* 344 455 249 new JCI ordinary shares from the commencement of trade on the JSE
on Monday, 19 August 2002.
3. Salient dates and times
The salient dates and times of the rights offer are as follows:
2002
Last day to trade for purposes of determining the
ordinary shareholders of JCI entitled to participate
in the rights offer Friday, 26 July
Existing JCI shares commence trading ex-rights at
commencement of trading Monday, 29 July
Listing of letters of allocation commences at commencement
of trading Monday, 29 July
Record date for purposes of determining the ordinary
shareholders of JCI entitled to participate in the
rights offer Friday, 2 August
Rights offer opens at commencement of trading and circulars
and letters of allocation posted Monday, 5 August
Dematerialised shareholders will have their share custody
accounts at their CSDP or broker automatically credited
with their entitlement Monday, 5 August
Certificated shareholders on the South African register
will have their entitlement credited to a share custody
account at Computer Share Nominees (Pty) Limited Monday, 5 August
The form of instruction in respect of a letter of allocation
and circular giving full details of the rights offer will
be posted to certificated shareholders of JCI recorded in
the register as such on the record date Monday, 5 August
Last day for dealing in letters of allocation by 17:00 Friday, 16 August
Listing of rights offer shares commences at commencement
of trading Monday, 19 August
Rights offer closes - payments to be made and form of
instruction in respect of letters of allocation lodged
by certificated shareholders by 14:30 (See Note 2) Friday, 23 August
Record date for letters of allocation Friday, 23 August
The entitlements in respect of the rights offer available
and (where requested) certificates posted to certificated
shareholders Monday, 26 August
Results of rights offer published on SENS Monday, 26 August
Dematerialised shareholders` safe custody accounts will be
credited with entitlements by their CSDP or broker from Monday, 26 August
Notes
1. The abovementioned dates and times are subject to change and arrangements
relating to certain foreign jurisdictions. Any changes will be announced in the
press and on SENS.
2. Dematerialised shareholders are required to notify their duly appointed
CSDP or broker of their acceptance of the offer in the manner and time
stipulated in the agreement governing the relationship between the shareholder
and his/her CSDP or broker.
3. All times indicated are South African times unless otherwise indicated.
4. Share certificates may not be dematerialised between Monday, 29 July 2002
and Friday, 2 August 2002, both days inclusive.
4. Documentation and further announcement
A circular giving full details of the rights offer together with forms of
instruction in respect of the letters of allocation will be posted to JCI
shareholders on or about Monday, 5 August 2002.
A further announcement setting out the results of the rights offer will be
made on or about Monday, 26 August 2002.
Johannesburg
19 July 2002
Investor Relations
JCI Limited
G.W. Poole
Tel: +27 11 688 5100
Fax: + 27 11 834 9195
Corporate advisor and lead sponsor
Corporate Finance
(a sponsor registered with the JSE Securities
Exchange South Africa)
Attorneys
Tabacks
Joint sponsor
Sasfin Bank Limited
(Registration number 1951/002280/06)
Reporting accountants
KPMG
Date: 19/07/2002 03:55:12 PM Produced by the JSE SENS Department
