Sage Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1970/010541/06)
Share code: SGG
ISIN: ZAE000006623
("Sage Group")
Results of renounceable rights offer
The results of the renounceable rights offer ("rights offer") of 142 424 242 new
ordinary shares of 1 cent each in the capital of Sage Group ("rights shares") at
R1,65 per rights share are as follows:
- shareholders in Sage Group ("Sage shareholders"), their renouncees and
transferees, subscribed for 74 029 864 rights shares, representing 52% of the
total number of rights shares offered;
- the balance of 68 394 378 rights shares available under the rights offer were
allocated:
- firstly, in satisfying applications for additional rights shares by Sage
shareholders, their renouncees and transferees in full;
- thereafter to the underwriters, namely ABSA Group Limited ("ABSA"), Financial
Securities Limited ("FSL"), and a consortium represented by and including AVASA
Holdings Limited ("the AVASA Consortium"), in proportion to their underwriting
commitments as follows:
- ABSA - 32 382 351 shares representing 8,8%;
- FSL - 31 437 575 shares representing 8,6%;
- The AVASA Consortium - 4 574 452 shares representing 1,2%
of the entire issued share capital of Sage Group.
Dematerialised shareholders" safe custody accounts have been updated and debited
by their Central Securities Depository Participants or brokers.
The entitlements due to certificated shareholders will be posted to such
shareholders with effect from today, 7 July 2003.
Johannesburg
7 July 2003
Lead manager
JP Morgan
Attorneys
Werksman
Incorporated
(Registration number 1990/007215/21)
Sponsor
Grant Thornton Kessel Feinstein
Corporate Sponsors (Pty) Ltd
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