| Tue 15 Apr 2003, 9:36 | | Avmin Places 90,000,000 Shares In Avgold Internati |
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Avmin Places 90,000,000 shares in Avgold Internationally
ANGLOVAAL MINING LIMITED
(Reg. No. 1933/004580/06)
(Incorporated in the Republic of South Africa)
Share codes:
JSE Securities Exchange, South Africa: AIN (ISIN:000017141)
London Stock Exchange: AGM
("Avmin" or "the Company")
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION INTO OR IN THE UNITED STATES,
CANADA OR JAPAN.
AVMIN PLACES 90,000,000 SHARES IN AVGOLD INTERNATIONALLY
Avmin has placed 90,000,000 ordinary shares (the "shares") of Avgold Limited
("Avgold") with international institutional investors. The shares were priced
at US$0.83232 per share which is equivalent to R6.50 per share based on a Rand
to U.S. Dollar exchange rate of Rand 7.8095 = US$1.00. The shares are listed on
the JSE Securities Exchange South Africa. Morgan Stanley acted as sole
bookrunner for the placement.
The placement proceeds will be applied to repay some of Avmin"s U.S. Dollar-
denominated debt, which is secured in part by its equity interest in Avgold.
Avmin considers its investment in Avgold to be strategic and has no intention to
sell any additional Avgold shares. The arrangements for the placement provide
that Avmin and Avgold will not, for a period of 180 days, sell or issue, where
applicable, further shares of Avgold.
Following settlement of the placement on 24 April 2003, Avmin will hold
286,305,263 shares which represent 42% of Avgold"s ordinary shares and will
continue to control Avgold. In addition, Avgold"s free float will increase from
approximately 33% to 46%, an increase of about 41%.
Shareholders should exercise caution in dealing in the shares of Avmin until a
further announcement showing financial effects is made.
This announcement is directed only at persons who (i) are outside the United
Kingdom or (ii) are in the United Kingdom and either have professional
experience in matters relating to investments or are high net worth companies,
unincorporated associations etc for the purposes of Article 49 of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2001 (all such persons
together being referred to as "relevant persons"). This announcement must not be
acted on or relied on by persons who are not relevant persons. Any investment
or investment activity to which this announcement relates is available only to
relevant persons and will be engaged in only with relevant persons.
Stabilisation/FSA.
This announcement is not for publication or distribution or release in the
United States of America (including its territories and possessions, any state
of the United States and the District of Columbia). This announcement does not
constitute or form part of an offer or solicitation of an offer to purchase or
subscribe for securities in the United States or any other jurisdiction. The
securities referred to herein have not been and will not be registered under the
United States Securities Act of 1933, as amended, and may not be offered or sold
in the United States, except pursuant to an applicable exemption from
registration. No public offering of securities is being made in the United
States.
Neither this announcement nor any copy of it may be taken, transmitted or
distributed, directly or indirectly in or into the United States, Canada or
Japan.
Johannesburg: Dated 15 April 2003
Enquiries:
Avmin
Julian Gwillim +27 11 634 0092
Ebrahim Takolia +27 11 634 0333
Morgan Stanley
Beth Mandel +27 11 507 0810
+27 82 891 4731
Sponsor:
Deutsche Securities (SA) (Proprietary) Limited
