Messina Limited - Further details on the proposed rights offer
MESSINA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1950/035912/06)
Share Code: MES ISIN: ZAE000004438
("Messina" or "the company")
Further details on the proposed rights offer
1. Proposed rights offer
Further to the cautionary announcement, dated 24 July 2002, the board of
directors of Messina has resolved to raise R155 million by way of a renounceable
rights offer of ordinary shares in Messina, at a price of R60 per ordinary share
("the rights offer").
SouthernEra Resources Limited ("SouthernEra"), the holding company of Messina,
has agreed to underwrite the full value of the rights offer. The rights offer is
conditional upon, inter alia:
(i) the JSE Securities Exchange South Africa approving the necessary
documentation, and granting the required listing of the letters of allocation;
(ii) the Registrar of Companies registering the rights offer documents; and
(iii) the approval of the South African Reserve Bank.
2. Further announcement
An announcement setting out further details of the rights offer will be
published on, or about, Friday 30 August 2002.
Rosebank
21 August 2002
RAND MERCHANT BANK
A division of FirstRand Bank Limited
CORPORATE FINANCE
Sponsor
Date: 21/08/2002 12:51:00 PM Produced by the JSE SENS Department
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