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Tradehold - Oddlot Offer
TRADEHOLD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1970/009054/06)
Share code: TDH
ISIN code: ZAE000026902
("Tradehold" or "the company")
ODDLOT OFFER
1. Introduction
Tradehold has 347 330 441 shares in issue, 121 398 of which are held by
shareholders who hold less than 400 shares ("oddlot holdings"). The oddlot
holdings represent 0,035% of the shares in issue and 49,4% of the total number
of shareholders in the company. The directors of Tradehold wish to reduce the
substantial administration costs associated with these oddlot holdings and have
accordingly resolved to implement an oddlot offer. All shareholders who hold in
aggregate less than 400 shares on Friday, 13 December 2002 ("the record date")
are offered the opportunity to elect:
to sell their oddlot holdings at the weighted average traded price of Tradehold
shares on the JSE Securities Exchange South Africa ("JSE") over the 5 trading
days ending Wednesday, 20 November 2002, plus a premium of 5% ("the cash
alternative price"); or
to purchase a sufficient number of additional shares at the weighted average
traded price of Tradehold shares on the JSE over the 5 trading days ending
Wednesday, 20 November 2002 ("the purchase alternative price") in order to
increase their holdings to 400 shares; or
to retain their oddlot holdings.
Compulsory sale of shares
The holdings of shareholders holding less than 200 shares on the record date who
do not make an election will be sold, on their behalf, at the cash alternative
price.
Shareholders who hold 200 or more shares but less than 400 shares on the record
date who do not make an election will retain their oddlot holdings.
2. Important dates
Pricing information
The cash alternative price and the purchase alternative price will be published
on SENS on Thursday, 21 November 2002.
Last day to trade
The last day to trade in order to participate in the oddlot offer will be
Friday, 6 December 2002.
Record date
Shareholders who are recorded as such in the books of the company at the close
of business on Friday, 13 December 2002 and who hold less than 400 shares will
be entitled to participate in the oddlot offer.
Oddlot offer period
The oddlot offer will open at the commencement of business on Monday, 4 November
2002 and will close at 16h00 on Friday, 13 December 2002.
3. Condition precedent
The implementation of the oddlot offer is subject to the special and ordinary
resolutions, set out in the notice of general meeting which will be attached to
and form part of a circular to shareholders as mentioned in paragraph 5 below,
being approved by shareholders and the registration of the special resolution by
the Registrar of Companies.
4. Financial effects
The oddlot offer and the issue of any new shares will have an effect of less
than 1% on the company`s earnings per share, net asset value per share and
tangible net asset value per share.
5. Circular to shareholders
A circular containing information relating to the oddlot offer and a notice
convening a general meeting, to be held on Wednesday, 27 November 2002, will be
posted to shareholders on or about Monday, 4 November 2002.
Cape Town
1 November 2002
Corporate adviser and sponsor
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 01/11/2002 04:55:01 PM Produced by the JSE SENS Department
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