| Tue 17 Dec 2002, 15:41 | | Truworths - Implementation and results of the odd- |
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Truworths - Implementation and results of the odd-lot offer
Truworths International Limited
(Incorporated in the Republic of South Africa)
(Registration number 1944/017491/06)
JSE code: TRU ISIN: ZAE000028296
("Truworths" or "the company")
Implementation and results of the odd-lot offer
1. Implementation of the odd-lot offer
Truworths advises that the odd-lot offer to shareholders, who held fewer than
100 shares in the company ("odd-lot holders") at the close of business on
Friday, 13 December 2002 ("odd-lot holdings"), has been duly implemented.
2. Results of the odd-lot offer
A total number of 24 697 shares was made available for sale at R6,13 per share
by 1 372 odd-lot holders who either elected the cash alternative or who failed
to make an election and who were therefore deemed to have agreed to sell their
odd-lot holdings.
A total number of 5 360 shares was purchased at R5,84 per share by 73 odd-lot
holders who elected the purchase alternative so as to increase their odd-lot
holdings to 100 shares.
The difference between the number of shares sold and purchased by odd-lot
holders is 19 337 shares. In terms of the specific authority granted at the
general meeting of shareholders held on Wednesday, 6 November 2002 these surplus
shares have been repurchased by Truworths at R6,13 per share (the offer price of
R5,84 per share plus a 5% premium). These surplus shares will be cancelled, de-
listed and restored to the status of authorised shares, resulting in a net
charge (before costs) of R120 090 against the company`s share capital and share
premium accounts.
Implementation of the odd-lot offer has resulted in the number of certificated
Truworths shareholders reducing by 57% to 905, and the total number of
shareholders reducing by 25% to 4043.
3. Odd-lot holders who hold certificated shares
In respect of certificated odd-lot holders who elected the purchase alternative,
new share certificates will be posted on Tuesday, 17 December 2002.
In respect of certificated odd-lot holders who either elected the cash
alternative or failed to make an election, cheques or electronic transfers will
either be posted or effected by electronic banking, on or from Tuesday, 17
December 2002. Such action will be taken only against surrender of the relevant
documents of title and at the risk of the odd-lot holders concerned.
All certificated odd-lot holders who elected the cash alternative, or who failed
to make an election and who were therefore deemed to have sold their odd-lot
holdings, are required to surrender their relevant documents of title to the
company`s transfer secretaries. Such surrender is necessary in order for payment
to be effected in respect of the odd-lot holdings sold. The South African
transfer secretaries are Computershare Investor Services Limited, Ground Floor,
70 Marshall Street, Johannesburg, 2001 (PO Box 7184, Johannesburg, 2000) and the
Namibian transfer secretaries are Transfer Secretaries (Pty) Limited, Shop 12,
Kaiserkrone Centre, Post Street Mall, Windhoek, Namibia (PO Box 2401, Windhoek,
Namibia).
4. Odd-lot holders who hold dematerialised shares
Any movement in the number of shares held, and amounts payable or receivable,
pursuant to the company`s odd-lot offer, will be debited or credited on Tuesday,
17 December 2002 in the dematerialised odd-lot holder`s securities custody and
bank accounts with such holder`s Central Securities Depository Participant (or
broker) and banker, as the case may be.
Cape Town
17 December 2002
Sponsor
HSBC Investment Services (Africa) (Pty) Ltd
(Registration number 1984/001736/07)
Date: 17/12/2002 03:32:18 PM Produced by the JSE SENS Department
