AST Group Limited - Announcement To Holders Of AST
AST Group Limited - Announcement To Holders Of AST Ordinary Shares And AST
Letters Of Allocation ("AST Securities")
AST GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/021790/06)
Share code in respect of ordinary shares: AAA
ISIN in respect of ordinary shares: ZAE000027397
Share code in respect of letters of allocation: AAAN
ISIN in respect of letters of allocation: ZAE000049417
("AST")
ANNOUNCEMENT TO HOLDERS OF AST ORDINARY SHARES AND AST LETTERS OF ALLOCATION
("AST SECURITIES")
Further to the detailed terms announcement regarding the rights offer dated 22
August 2003, shareholders are reminded that the letters of allocation in respect
of the rights offer have been trading on the JSE Securities Exchange South
Africa since Monday, 8 September 2003. The opening of the rights offer and the
posting of the rights offer circular to shareholders will occur today, 15
September 2003.
Holders of AST securities are advised that additional working capital
requirements have arisen since the last practicable date prior to the
finalisation of the rights offer circular. The directors of AST have made the
following arrangements in respect thereof:
- an additional facility of R20 million has been secured, which is required to
be repaid in full by 31 March 2004; and
- the first repayment due in terms of the R60 million loan facility announced on
14 May 2003, and as set out in paragraph 2.8.2 of the rights offer circular, has
been deferred to 31 March 2004.
Centurion
15 September 2003
Merchant bank and advisor
Standard Corporate and Merchant Bank
(A division of The Standard Bank of South Africa Limited)
(Registration number 1962/000738/06)
Sponsor
Cazenove South Africa (Proprietary) Limited
(Registration number 1998/011736/07)
Member of the JSE Securities Exchange South Africa
Attorneys
Moss Morris
Date: 15/09/2003 08:22:45 AM Produced by the JSE SENS Department
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