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Messina - Terms of the rights offer
Messina Limited
Registration number 1950/035912/06
Share code: MES ISIN: ZAE 000004438
("Messina" or "the company")
Terms of the rights offer
1. Introduction
Rand Merchant Bank is authorised to announce the terms of the rights
offer of new Messina ordinary shares of 50 cents each ("rights offer").
2. Terms of the rights offer
The board of directors of Messina has resolved to proceed with the
rights offer on the following terms:
Amount to be raised (before expenses) R155 578 728
Number of new Messina shares to be issued 2 592 979
Issue price per Messina share 6000 cents
Ratio of the rights offer 20 new Messina shares
for every
100 Messina shares held
Where the application of the ratio for the rights offer results in a
fraction of a Messina share, such fraction will be rounded to the
nearest whole number. Shareholders will be entitled to subscribe for
the resultant rounded number of new Messina shares.
The new Messina shares to be issued, in terms of the rights offer, will
rank pari passu with the Messina shares currently in issue.
3. Application for listing
The JSE Securities Exchange South Africa ("JSE") has approved the
listing of:
- 2 592 979 rights in respect of new Messina shares from Monday 14
October 2002 to Friday 1 November 2002, both days inclusive; and
- 2 592 979 new Messina shares from the commencement of business on
Monday 4 November 2002.
4. Underwriting
The rights offer has been underwritten by SouthernEra Resources Limited.
5. Salient dates
The salient dates in respect of the rights offer are reflected in the
table below. Any changes to these dates will be published on SENS and
in the press.
2002
Last day to trade in Messina shares Friday 11 October
in order to participate in the
rights offer
Rights listed on the JSE Monday 14 October
Messina shares commence trading ex Monday 14 October
rights
Record date for participation in Friday 18 October
the rights offer
Rights offer opens at 09:00 Monday 21 October
Rights offer circular posted to Monday 21 October
shareholders
Last day to trade rights on the JSE Friday 1 November
New Messina shares listed and Monday 4 November
trading therein on the JSE
commences
Rights offer closes at 14:30 Friday 8 November
Record date for rights Friday 8 November
Forms of instruction together with Friday 8 November
payments lodged by certificated
shareholders by 14:30
Results of rights offer announced Monday 11 November
New Messina shares issued Monday 11 November
Dematerialised shareholder`s safe Monday 11 November
custody accounts debited and
updated by CSDP or broker; and
certificates posted to certificated
shareholders
Notes:
1. Dematerialised shareholders are required to inform their CSDP or
broker of their instructions in terms of the rights offer in the manner
and time stipulated in the agreement governing the relationship between
the shareholder and their CSDP or broker.
2. Share certificates may not be dematerialisd or rematerialised
between Monday 14 October and Friday 18 October 2002, both days
inclusive.
6. Rights offer circular
A circular and a form of instruction providing further details relating
to the rights offer and how shareholders should deal with the rights
allocated to them in terms of the rights offer will be posted to
shareholders on 21 October 2002.
An English copy of the rights offer circular can be inspected at the
registered office of Messina, Nantai Crescent, 30 Jellicoe Avenue,
Rosebank, 2196, during normal business hours (Saturdays, Sundays and
public holidays excepted) from 09:00 on Monday 21 October 2002 until
16:00 on Friday 8 November 2002.
Rosebank
4 October 2002
Merchant Bank Sponsor
RMB Resources RMB Corporate
Finance
Date: 04/10/2002 04:39:00 PM Produced by the JSE SENS Department
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