Mustek Limited - Announcement
Mustek Limited
Incorporated in the Republic of South Africa
(Registration number 1987/070161/06)
Share Code: MST ISIN: ZAE000012373
("Mustek")
ANNOUNCEMENT REGARDING
THE TAIWANESE DEPOSITORY RECEIPT LISTING AND
A PRO RATA BUY BACK OFFER
Further to the announcements on the 4th of July 2002 and 30th of October 2002,
regarding the proposed listing of Taiwan depository receipts by Mustek ("the TDR
transaction"), Mustek wishes to advise shareholders that all the necessary
regulatory approvals have been obtained and that an underwriting agreement has
been signed between Mustek and Yuanta Core Pacific Securities ("the underwriting
agreement").
Mustek will issue 20 million shares for cash to the custodian bank, these shares
will underlie the 20 million depository receipts, to be issued by the depository
bank. The depository receipts to be issued by the depository bank have been
fully underwritten in terms of the underwriting agreement and will be listed on
the Taiwan Securities Exchange ("the TSE") at the equivalent of 500 cents per
depositary receipt ("the TDR listing price").
In order to allow Mustek shareholders to effectively participate in the
immediate benefits of the TDR transaction, Mustek shareholders will be allowed
to sell up to 10% of their shares to Mustek by way of a pro rata share buy back
at the TDR listing price of 500 cents per share ("the pro rata offer").
A circular to shareholders containing details of the pro rata offer including an
excess pro rata offer and the procedure for acceptance of the offer will be
posted within the next 30 days.
Midrand
11th December
Joint Corporate Advisors Sponsor Legal Advisors
Merchantec Exchange Sponsors Kramer and Viljoen
Corporate Solutions
Date: 11/12/2002 05:15:00 PM Produced by the JSE SENS Department
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