| Thu 25 Jul 2002, 0:00 | | Beige Holdings Limited - Salient Terms Of The Righ |
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Beige Holdings Limited - SALIENT TERMS OF THE RIGHTS OFFER AND RECORD DATE
BEIGE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/006871/06)
("Beige" or "the company")
ISIN Code: ZAE 000013835 Share code: BEG
SALIENT TERMS OF THE RIGHTS OFFER AND RECORD DATE
Terms of the rights offer
Further to the rights offer announcement dated 23 April 2002, shareholders of
Beige recorded in the register at the close of business on Friday,
16 August 2002, will receive rights to subscribe for additional ordinary shares
in Beige in terms of the rights offer, on the basis of 1 rights share for every
1 ordinary share held in Beige, at 5 cents per rights share.
The number of shares offered is 95 125 003 new Beige shares, with the total
amount of R4 756 250 to be raised, before expenses. The number of shares in
issue after the rights offer will be 190 250 006 ordinary Beige shares.
The last day to trade for the rights offer in order to settle by the record date
and to qualify to participate in the rights offer (cum entitlement) is Thursday,
08 August 2002 for settlement by Friday, 16 August 2002 ("the record date").
Shareholders of Beige recorded in the register on the record date will receive
rights to subscribe for additional ordinary shares in Beige as set out above.
The renounceable (nil paid) letters of allocation ("letters of allocation") will
be listed from the commencement of trade on the JSE Securities Exchange South
Africa ("JSE") on Monday, 12 August 2002, from which date the Beige shares will
trade "ex-rights". The letters of allocation will be issued in dematerialised
form.
Entitlements to shares subscribed for, and any refund cheques, in terms of the
rights offer, will be posted on Monday, 09 September 2002 to certificated
shareholders and CSDP or broker accounts will be credited for dematerialised
shareholders.
A summary of the revised salient dates and times for the rights offer are as
follows:
2002
Last day to trade for rights offer in
order to settle by the record date and to Thursday, 08 August
qualify to participate in the rights
offer (cum entitlement) on
Listing of letters of allocation on the Monday, 12 August
JSE commences on
Shares commence trading ex-rights on the Monday, 12 August
JSE on
Record date for rights offer at the close Friday, 16 August
of business on
Rights offer opens on Monday, 19 August
Last day for trading in letters of
allocation on the JSE in order to settle Friday, 30 August
by Friday 06 September 2002 on
Listing of rights offer shares on the JSE Monday, 02 September
commences on
Rights offer closes at 14:30 and payment
to be made by certificated shareholders Friday, 06 September
on (See note 1)
Record date for letters of allocation on Friday, 06 September
Results of rights offer announced in the Monday, 09 September
press and on SENS on or about
Share certificates and refund cheques, if
applicable, in respect of unsuccessful Monday, 09 September
excess applications, posted to
certificated shareholders on
Entitlements in terms of the rights offer
credited and cash debited to CSDP or Monday, 09 September
broker accounts in respect of
dematerialised shareholders on
Notes
1. Dematerialised shareholders are required to notify their CSDP or broker of
their acceptance of the offer in the time and manner stipulated in the agreement
governing the relationship between the shareholder and the CSDP or broker.
2. Shareholders are reminded that Beige`s shares have been dematerialised in
terms of STRATE. Shareholders who have not yet dematerialised their shares will
receive a printed form of instruction in respect of the letter of allocation and
must act according to the instructions as set out under the relevant section in
the circular to be posted to shareholders by latest 19 August 2002.
3. Share certificates may not be dematerialised or rematerialised from Monday,
12 August 2002 to Friday, 16 August 2002, both days inclusive.
Underwriting of the rights offer
Watermark Securities (Proprietary) Limited ("Watermark") has, in terms of the
underwriting agreement, undertaken to underwrite the rights offer, in the amount
of R4 756 250 (before expenses).
Conditions precedent
The rights offer is conditional upon, inter alia, the following:
* the registration by the Registrar of Companies of all documents in respect
of the rights offer; and
* the JSE granting the listings for the 95 125 003 renounceable (nil paid)
letters of allocation pertaining to the new ordinary shares and the 95 125 00
new ordinary shares to be issued pursuant to the rights offer.
Johannesburg
26 July 2002
Corporate Adviser and
Sponsor
Arcay Group Limited
Date: 25/07/2002 05:30:00 PM Produced by the JSE SENS Department
