Relyant - Results Of The Renounceable Rights Offer
Relyant - Results Of The Renounceable Rights Offer
Relyant Retail Limited
(Incorporated in the Republic of South Africa)
(Registration number 1937/010108/06)
Share code: RLY ISIN number: ZAE 000016457
("Relyant" or "the Group")
RESULTS OF THE RENOUNCEABLE RIGHTS OFFER
The directors of Relyant are pleased to announce the results of the renounceable
rights offer by Relyant of 822 044 412 new ordinary shares in Relyant at 90
cents per ordinary share in the ratio of 527,754 new ordinary shares for every
100 Relyant ordinary shares held ("the rights offer"). Relyant shareholders and
their renouncees subscribed for 4 349 new ordinary shares.
As previously indicated in the circular to Relyant shareholders dated 19 August
2002, the rights offer was fully underwritten by Poco International Holdings SA
("Poco") and certain financial institutions who have provided funding facilities
to Relyant and/or its subsidiaries or associates ("the debt funders"). The first
R306 324 000 of the rights offer will therefore be subscribed for by Poco with
the balance of R433 512 057 subscribed for by the debt funders.
All excess applications will be allocated in full. Dematerialised shareholders`
safe custody accounts have been credited today with their entitlements by their
Central Securities Depository Participants or brokers. The entitlements due to
certificated shareholders will be posted to the shareholders concerned today.
Johannesburg
9 September 2002
Merchant bank Sponsor to Relyant Reporting accountants
and auditors to
Relyant
Investec Bank Limited Investec Bank Limited Deloitte & Touche
Legal adviser to Poco Corporate adviser to Legal adviser to
Feinsteins Attorneys Poco Relyant
Gensec Bank Limited Peter Dawe and
Associates
Legal adviser to the
debt funders
Jowell Glyn & Marais
Date: 09/09/2002 03:32:57 PM Produced by the JSE SENS Department
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