SALLIES LIMITED -
SALLIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1903/001879/06)
JSE share code: SAL
ISIN: ZAE000022588
("Sallies")
RESULTS OF RIGHTS OFFER
Ernst & Young Sponsors (Proprietary) Limited is authorised to announce the
results of the rights offer to Sallies ordinary shareholders which closed on
Friday 23 January 2004. The rights offer was made in the ratio of 150 new
ordinary shares, at a cash subscription price of 22 cents per new ordinary
share, for every 100 ordinary shares held at 2 January 2004.
Shareholders and their renouncees applied for 47 698 232 ordinary shares out of
a total of 138 441 681, equivalent to approximately 34,5% of the total number of
shares offered in terms of the rights offer.
Given that the rights issue was not underwritten, Sallies will now proceed with
the next phase of its capital raising exercise which is to place the balance of
90 743 449 shares through a book building exercise. This will be done in terms
of the ordinary resolution passed by shareholders at the general meeting held on
Wednesday, 10 December 2003, authorising the directors to offer/place with
interested parties, all unallotted shares on terms no different to those upon
which the rights offer was made. This authority is restricted to the three-
month period ending 23 April 2004.
Safe custody accounts of dematerialised shareholders have been updated on 26
January 2004 with the new Sallies ordinary shares and share certificates will be
mailed to certificated Sallies shareholders on 27 January 2004.
Application will be made to the JSE Securities Exchange South Africa to adjust
the number of shares to be listed. This will become effective on or about
Wednesday 28 January 2004.
Johannesburg
26 January 2004
Sponsor:
Ernst & Young Sponsors (Pty) Ltd
Incorporated in the Republic of South Africa
(Registration number 2000/031843/07)
Date: 26/01/2004 03:33:02 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
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