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Discovery Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1999/007789/06)
(Share code: DSY ISIN: ZAE000022331)
("Discovery" or "the company")
Results of the claw-back offer
1. Introduction
In terms of the claw-back offer, Discovery raised R875 million through the
subscription by FirstRand Limited ("FirstRand") of 134 615 385 new Discovery
shares at 650 cents per share ("new Discovery shares") with Discovery
shareholders having the right to acquire their pro rata portion of new Discovery
shares.
2. Results of the claw-back offer
Number % of new
Discovery
shares
New Discovery shares 134 615 385 100.0
New Discovery shares 127 562 531 94.8
applied for
New Discovery shares 173 520 825 128.9
applied for, including
excess applications
Excess applications 45 958 294 34.1
New Discovery shares 7 052 854 5.2
available for excess
applications
The new Discovery shares available for excess applications have been allocated
as follows:
Number of excess applications % of excess
applications
allocated
Less than 250 000 0.0%
250 000 to 499 999 1.0%
500 000 to 999 999 2.0%
1 000 000 to 2 499 999 3.5%
2 500 000 to 4 999 999 5.0%
5 000 000 to 7 499 999 10.0%
7 500 000 to 9 999 999 15.0%
10 000 000 to 14 999 999 20.0%
Greater than 15 000 000 25.0%
Applications have been received for 21 281 388 new Discovery shares by the
executive directors of Discovery, representing 97.2% of the number of new
Discovery shares offered to them. Following the finalisation of the claw-back
offer, the executive directors of Discovery hold 85 954 618 shares, representing
16.1% of Discovery"s issued share capital.
On Monday 28 July 2003:
dematerialised shareholders will have their safe custody accounts credited with
the new Discovery shares subscribed for in terms of the claw-back offer; and
share certificates in respect of the new Discovery shares subscribed for in
terms of the claw-back offer will be posted to certificated shareholders.
These transactions will include any allocation of excess applications.
Sandton
28 July 2003
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