Stratcorp Limited - Issue of Shares for Cash
STRATCORP LIMITED
(Registration number 2000/031842/06)
(JSE Code: STA & ISIN: ZAE000034294)
("StratCorp" or "the Company")
ISSUE OF SHARES FOR CASH
The board of directors wishes to inform shareholders that it has completed a
general issue of shares for cash whereby 2 584 934 ordinary shares have been
placed with a number of independent public shareholders at a price of 46 cents
each. The price for the issue was determined by the directors on 13 December
2002 based on the weighted average price of 46 cents for the period from 13
November 2002 to 12 December 2002. The issue increases the number of shares in
issue from 17 232 892 ordinary shares to 19 817 826 ordinary shares. The
capital raised, amounting to R 1 189 069.64 will strengthen StratCorp`s working
capital base. The cash issue was made in terms of the general authority to
issue shares for cash granted to the board by shareholders at the annual general
meeting held on 29 August 2002.
The financial effects of the issue on the earnings per share and net asset value
of StratCorp based on the unaudited balance sheet of StratCorp as at 31 August
2002 and for purposes of the earnings per share calculation assuring that
interest of 10% per annum before tax was earned for the six month period ended
31 August 2002.
Before Pro forma % increase /
After (decrease)
Net asset value per 25.9 28.8 11.20
ordinary share (cents)
Net asset value per
total number of shares 6.5 8.1 24.62
in issue (cents)
Earnings per ordinary (7.61) (6.32) (16.95)
share (cents)
Headline earnings per (7.61) (6.32) (14.95)
ordinary share (cents)
Centurion
19 December 2002
Merchant Bank Sponsor
Marriott Merchant Bank Limited Exchange Sponsors (Pty) Limited
Date: 18/12/2002 05:15:00 PM Produced by the JSE SENS Department
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