Uniserv - Issue of shares for Cash by UTI Worldwid
United Service Technologies Limited
(Incorporated in the British Virgin Islands)
International Business Company Number: 3896
JSE Code: USV
ISIN: ZAE000012431
("Uniserv")
Press Release
Issue of shares for cash by UTi Worldwide Inc.
Uniserv has as its only interest an investment in UTi Worldwide Inc. ("UTi").
UTi is an international, non-asset based supply chain management company
providing air and ocean freight forwarding, contract logistics, customs
brokerage and other logistics-related services. Uniserv shareholders are
advised that on 13 December 2002 UTi issued an additional 4 000 000 ordinary
shares for cash at USD23.00 per share ("share issue"). On 18 December 2002 the
underwriters of the share issue exercised an over-allotment option, which
resulted in an additional 600 000 ordinary shares being issued at USD23.00 per
share. As a result, UTi raised approximately USD106 million, before underwriting
commissions and costs.
Prior to the share issue and over-allotment option, Uniserv held approximately
36% of the ordinary shares of UTi. Subsequent to the share issue and over-
allotment option, Uniserv`s holding has been diluted to approximately 30.4% and
its share in the shareholders` equity of UTi has increased by approximately
USD18,7 million. More information on UTi and the share issue is available on the
Internet at www.go2uti.com.
JOHANNESBURG
8 JANUARY 2003
Date: 08/01/2003 04:12:03 PM Produced by the JSE SENS Department
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