| Fri 2 Aug 2002, 0:00 | | Illovo - Implementation And Result Of The Odd-lot |
|
Illovo - Implementation And Result Of The Odd-Lot Offer
ILLOVO SUGAR LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1906/000622/06)
JSE Share code ILV ISIN ZAE000003547
("Illovo")
IMPLEMENTATION AND RESULT OF THE ODD-LOT OFFER
1. Implementation of the odd-lot offer
Shareholders are advised that the odd-lot offer to shareholders who held
fewer than 100 shares in Illovo at the close of business on Friday, 2 August
2002 ("odd-lot holdings"), has been duly implemented.
2. Result of the odd-lot offer
The total number of shares made available by those shareholders who elected
to sell their odd-lot holdings and by those who failed to make an election (82
374 shares), exceeded the total number of shares required by shareholders who
elected to purchase sufficient additional shares to increase their odd-lot
holdings to holdings of 100 shares
(2 973 shares).
Accordingly, Illovo has repurchased, in terms of a specific authority granted
at the annual general meeting held on Wednesday,
17 July 2002, the balance of 79 401 shares at R8,54 per share (being the offer
price of R8,13 per share plus a 5% premium) for a total consideration of R681
158 including transfer duty. These shares will be cancelled, delisted and
reverted back to unissued authorised share capital.
3. Odd-lot holders who hold certificated shares
In respect of those odd-lot holders who hold certificated shares and elected
to purchase additional shares, new share certificates (if requested) will be
posted, against surrender of existing documents of title, on Monday, 5 August
2002. Cheques and electronic transfers in respect of the sale of odd-lot
holdings will be posted to the relevant odd-lot holders or effected on Monday, 5
August 2002, by registered post or electronic banking, at the risk of such odd-
lot holders and against surrender of their relevant documents of title.
All odd-lot holders who elected to sell their odd-lot holdings or who failed
to make an election and who have not submitted their relevant documents of title
to Computershare Investor Services Limited, 11 Diagonal Street, Johannesburg,
2001 (PO Box 1053, Johannesburg, 2000), are reminded to do so in order for their
payments to be released or effected. These odd-lot holders are also reminded
that their documents of title will no longer be good for trading after Friday,
2 August 2002.
4. Odd-lot holders who hold dematerialised shares
Any movement in the number of shares held and amounts payable/receivable by
an odd-lot holder who has dematerialised his/her shares, as a result of the
implementation of the odd-lot offer, will be automatically recorded and
debited/credited in the odd-lot holder`s account with the Central Securities
Depository Participant or broker selected by that odd-lot holder on Monday, 5
August 2002.
Mount Edgecombe
2 August 2002
Financial adviser and sponsor
ING Investment Bank
Legal adviser
Garlicke & Bousfield
Date: 02/08/2002 05:15:00 PM Produced by the JSE SENS Department
