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MCC
McCarthy Limited - Redemption and conversion of debentures into ordinary shares
McCarthy Limited
(Incorporated in the Republic of South Africa)
(Registration No 1991/003245/06)
JSE Code ISIN
Debentures MCCD ZAE000034849
Redemption and conversion of debentures into ordinary shares
1. Introduction
Notice is hereby given that in accordance with the McCarthy Debenture Trust
Deed, 25 643 549 senior stepped unsecured subordinated compulsorily convertible
debentures of 500 cents each ("debentures") are to be redeemed and converted
into new ordinary shares in McCarthy Limited ("new ordinary shares") on a one
for one basis after the close of business on Friday 26 September 2003.
The ordinary shares to be issued will rank pari passu with the ordinary shares
already listed.
2. Salient dates
Salient dates relating to the redemption and conversion are as follows:
Last day to trade debentures Thursday 18 September 2003
Listing and trading of new
ordinary shares commences Friday 19 September 2003
Debentures suspended from
commencement of trading Friday 19 September 2003
Record date Friday 26 September 2003
Debentures redeemed and
converted after close of
business Friday 26 September 2003
Posting of share certificates
to certificated holders Monday 29 September 2003
Dematerialised holders"
accounts at their CSDP or
broker amended to reflect
redemption and conversion Monday 29 September 2003
Listing of debentures
terminated at commencement of
trade Monday 29 September 2003
3. JSE listing
With effect from:
- the close of business on Friday 26 September 2003, 25 643 549
debentures will be delisted from the JSE Securities Exchange South Africa
("JSE"); and
- the commencement of trade on Friday 19 September 2003, 25 643 549 new
ordinary shares of no par value will be listed on the JSE.
4. Circular to debenture holders/surrender of debenture certificates
Ordinary share certificates will not be issued to debenture holders who hold
their debentures in certificated form until they have surrendered their
debenture certificates or other relevant documents of title to Computershare
Limited.
Ordinary share certificates will be posted to debenture holders by registered
mail on Monday, 29 September 2003 if the debenture certificates have been
surrendered by Friday, 26 September 2003 or within 5 business days of receipt
thereafter.
A circular notifying debenture holders of the redemption and conversion and
including a form of surrender will be posted to debenture holders on or about
Friday 15 August 2003.
By order of the board Transfer Secretaries
A W ALISON Computershare Limited
COMPANY SECRETARY 70 Marshall Street
P O Box 1053,
Johannesburg
Tel : 011 370 5000
15 August 2003
Merchant Bank and Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
CORPORATE FINANCE
Date: 15/08/2003 04:01:01 PM Produced by the JSE SENS Department
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