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MESSINA LIMITED -
Messina Limited
Registration number 1950/035912/06
Share code: MES ISIN: ZAE000004438
("Messina" or "the company")
Terms of the rights offer
1. Introduction
Rand Merchant Bank is authorised to announce the terms of the rights offer of
new Messina ordinary shares of 50 cents each ("rights offer").
2. Proposed rights offer
The board of directors of Messina has resolved to proceed with the rights offer
on the following terms:
Amount to be raised (before expenses) R270 706 980
Number of new Messina shares to be issued 4 511 783
Issue price per new Messina share 6 000 cents
Ratio of the rights offer 29 new Messina shares for
every 100 Messina shares held
Where the application of the ratio for the rights offer results in a fraction of
a Messina share, such fraction will be rounded to the nearest whole number.
Shareholders will be entitled to subscribe for the resultant rounded number of
new Messina shares.
The new Messina shares to be issued, in terms of the rights offer, will rank
pari passu with the Messina shares currently in issue.
3. Application for listing
The JSE Securities Exchange South Africa has approved the listing of:
* 4 511 783 rights in respect of new Messina shares from Monday 8 September 2003
to Friday 3 October 2003, both days inclusive; and
* 4 511 783 new Messina shares from the commencement of business on Monday 6
October 2003.
4. Underwriting
The rights offer has been underwritten by SouthernEra Resources Limited.
5. Salient dates
Shareholders are referred to the announcement published on Friday 29 August 2003
for the salient dates of the rights offer.
6. Rights offer circular
A circular and forms of instruction providing further details relating to the
rights offer and how shareholders must deal with the rights allocated to them in
terms of the rights offer will be posted to shareholders on 22 September 2003.
An English copy of the rights offer circular can be inspected at the registered
office of Messina, Nantai Crescent, 30 Jellicoe Avenue, Rosebank, 2196, during
normal business hours (Saturdays, Sundays and public holidays excepted) from
09:00 on Monday 15 September 2003 until 16:00 on Friday 3 October 2003.
Rosebank
5 September 2003
Merchant bank and sponsor
Rand Merchant Bank Corporate Finance
(A Division of FirstRand Bank Limited)
Corporate Law Advisors and Consultants
Edward Nathan & Friedland
Date: 04/09/2003 05:05:03 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
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