| Mon 15 Dec 2003, 15:17 | | Salient Dates Announcement |
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Sallies Limited - Rights Offer - Salient Dates Announcement
SALLIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1903/001879/06)
JSE share code: SAL
ISIN: ZAE000022588
("Sallies" or "the company")
SALLIES LIMITED RIGHTS OFFER - SALIENT DATES ANNOUNCEMENT
1 Introduction
It was announced on SENS on Monday, 8 December 2003, and in the press on
Tuesday, 9 December 2003 that the directors of Sallies Limited ("Sallies") had
resolved to proceed with a rights offer to all Sallies shareholders recorded in
the register on 2 January 2004. The rights offer is not being underwritten.
2 Purpose of the rights offer
The purpose of the rights offer is to raise up to approximately R30 million
(before expenses), which will be used to:
- fund the insourcing of mining activities;
- enable the expansion of the plant"s milling capacity;
- defray debt thus strengthening the balance sheet; and
- provide adequate working capital resources.
3 Salient terms of the rights offer
Number of new ordinary shares offered: a maximum of
138 441 681
Ratio of entitlement: 150 new ordinary shares for every
100 shares held on the record date
Cash subscription price
for new ordinary shares: 22 cents
Maximum amount to be
raised, before expenses: R30.5 million
Maximum number of shares in
issue after the rights
offer: 230 736 135
4 Listing of Sallies shares and letters of allocation on the JSE Securities
Exchange South Africa ("the JSE")
The JSE has granted approval for the listing of:
- the 138 441 681 renounceable (nil paid) letters of allocation to be issued
pursuant to the rights offer from the commencement of trading on Wednesday, 24
December 2003 to Friday, 16 January 2004, (both days inclusive); and
- a maximum of 138 441 681 new ordinary shares to be issued in terms of the
rights offer from the commencement of trading on Monday, 19 January 2004.
5 Salient dates and times
2003
Publication of finalisation
information and announcement
on SENS on Monday, 15 December
Publication of finalisation
information and announcement
in the press on Wednesday, 17 December
Last day to trade in Sallies
shares in order to settle by
the record date and to qualify
to participate in the rights
offer (cum entitlement) on Tuesday, 23 December
Listing of letters of allocation
on the JSE commences at
commencement of trading on Wednesday, 24 December
Sallies shares commence trading
ex-rights on the JSE at
commencement of trading on Wednesday, 24 December
2004
Record date for participation
in the rights offer at the
close of business on Friday, 2 January
Rights offer circular posted
to shareholders on Monday, 5 January
Rights offer opens at commencement
of trading on Monday, 5 January
Dematerialised shareholders will
have their safe custody accounts
at their CSDP or broker
automatically credited with
their entitlement on Monday, 5 January
Certificated shareholders on the
register will have their
entitlement credited to a custody
account at Computershare
Nominees on Monday, 5 January
The form of instruction in respect
of a letter of allocation will be
posted to certificated shareholders
of Sallies recorded in the register
as such on the record date on Monday, 5 January
Last day to trade in letters of
allocation on the JSE Friday, 16 January
Listing of rights offer shares
commences at commencement of
trading on Monday, 19 January
Rights offer closes - payments
to be made and form of
instruction in respect of
letters of allocation lodged by
certificated shareholders by
14:30 (see notes 1 and 5
below) on Friday, 23 January
Record date for letters of
allocation Friday, 23 January
Dematerialised shareholders" safe
custody accounts will be updated
with entitlements and accounts debited
by their CSDP or broker and
certificates posted to
certificated shareholders on Monday, 26 January
Results of rights offer published
on SENS on Monday, 26 January
Results of rights offer published
in the press on Tuesday, 27 January
Refund cheques (if applicable) in
the case of certificated
shareholders in respect of
excess applications posted on
or about Tuesday, 27 January
Notes:
1 Dematerialised shareholders are required to notify their duly appointed CSDP
or broker of their acceptance of the offer in the manner and time stipulated in
the agreement governing the relationship between the shareholder and his CSDP or
broker.
2 All times indicated are South African times unless otherwise stated.
3 Share certificates may not be dematerialised or rematerialised between
Wednesday, 24 December 2003 and Friday, 2 January 2004, both days inclusive.
4 Dematerialised shareholders will have their custody accounts at their CSDP or
broker automatically credited with their Sallies shares in respect of which the
rights offer has been accepted and certificated shareholders will have their
Sallies share certificates posted to them at their own risk by registered mail
in respect of which the rights offer has been accepted.
5 CSDPs effect payment in respect of dematerialised shareholders on a delivery
versus payment method.
6 Documentation
A circular, giving full details of the rights offer ("the circular") and
including the revised listing particulars of Sallies, will be posted to ordinary
shareholders on or about Monday, 5 January 2004. A form of instruction in
respect of a letter of allocation will be enclosed with the circular for use by
shareholders who have not dematerialised their Sallies shares.
Copies of the circular, in English, will be available for inspection from
Tuesday, 23 December 2003 during normal business hours until Friday, 23 January
2004 (Saturdays, Sundays and public holidays excluded) from:
- Witkop Fluorspar Mine, Farm Wintershoek, Zeerust;
- Ernst & Young Sponsors (Proprietary) Limited, Wanderers Office Park, 52
