BEGET HOLDINGS LIMITED -
BEGET HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2002/011635/06)
("Beget" or "the Company")
(JSE Code: BEE ISIN: ZAE000044111)
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 22 442 044 ordinary shares have been
placed with a number of independent public shareholders at a price of 12 cents
each. The price for the issue was determined by the directors on 31 March 2003
based on the weighted average price of 13 cents for the period to date. The
issue increases the number of shares in issue from 352 172 851 ordinary shares
to 374 614 895 ordinary shares. The capital raised, amounting to R2 693 045 has
been utilised to settle R1 680 000 of the vendors liability in respect of the
acquisition of the business of Ianitor, and the balance will be used for working
capital. 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 30 April 2003.
The financial effects of the issue on the earnings per share and net asset value
of Beget based on the audited balance sheet of Beget as at 31 December 2002 and
for purposes of the earnings per share calculation assuming that interest of 10%
per annum before tax was earned for the year ended 31 December 2002.
Before After % increase
/
(decrease)
Net asset value per 4,04 4,54 12,4
ordinary share (cents)
Net tangible asset value 1,65 2,29 38,8
per ordinary share
(cents)
Earnings per ordinary 1,38 1,31 (5,1)
share (cents)
Headline earnings per 1,65 1,55 (6,1)
ordinary share (cents)
Menlyn
11 June 2003
Sponsor
Exchange Sponsors (Pty) Limited
Date: 11/06/2003 12:35:45 PM Supplied by www.sharenet.co.za
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