| Fri 9 Jul 2004, 12:53 | | CAPITEC - ODD-LOT OFFER PRICE |
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CAPITEC - ODD-LOT OFFER PRICE
CAPITEC BANK HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1999/025903/06)
(`Capitec` or `the company`)
JSE share code: CPI ISIN: ZAE000035861
PSG Capital Limited announced on SENS on 14 June 2004 and in the press on 15
June 2004, that the election period for the odd-lot offer, approved by Capitec
shareholders at the annual general meeting held at Stellenbosch on 26 May 2004,
had opened and that the offer price per share would be determined using the
volume weighted average traded price of Capitec shares on the JSE Securities
Exchange South Africa over the five trading days commencing on Friday, 2 July
2004 and ending on Thursday, 8 July 2004.
Shareholders are advised that the offer price per share has been determined as
627 cents per share.
In terms of the odd-lot offer, all ordinary shareholders who hold less than 500
Capitec shares (odd-lots) at the close of business on Friday, 23 July 2004, may
elect one of the following three options:
- to subscribe for/purchase a sufficient number of additional Capitec shares at
the offer price to increase their odd-lot holdings to 500 shares (`purchase
alternative`); or
- to sell their odd-lot holdings to Capitec Bank Limited at the offer price plus
a premium of 10%, which is equal to a rounded value of 690 cents per share
(`cash alternative`);
or
- to retain their odd-lot holdings.
Shareholders holding less than 100 ordinary shares in the issued capital of
Capitec should note that, unless they inform the transfer secretaries (in the
case of a shareholder holding certificated shares) or their CSDP or stockbroker
(in the case of a shareholder holding dematerialised shares) of their election,
their odd-lot holdings will be sold to Capitec Bank Limited and the net proceeds
remitted to them.
SALIENT DATES AND TIMES
2004
Last day to trade in order to participate in/be
eligible for the odd-lot offer on Friday, 16 July
Shares trade `ex` the odd-lot offer Monday, 19 July
Election period for the odd-lot offer closes at
12:00 on (see note 3) Friday, 23 July
Forms of election and surrender (together with
relevant documents of title/cheque/banker`s
draft, as applicable) in respect of certificated
shareholders for the odd-lot offer to be received
by the transfer secretaries by 12:00 on Friday, 23 July
Record date to determine those ordinary Friday, 23 July
shareholders entitled to participate in the odd-
lot offer at the close of business on
Implementation of the odd-lot offer takes effect
at the commencement of business on Monday, 26 July
New share certificates posted and
cheques/electronic transfers in respect of
ordinary shareholders holding share certificates
posted/effected against surrender of existing
documents of title, and accounts debited/credited
and updated at the CSDP/broker in respect of
ordinary shareholders holding dematerialised
ordinary shares, from Monday, 26 July
Results of the odd-lot offer announced on SENS on Monday, 26 July
Results of the odd-lot offer published in the
South African press on Tuesday, 27 July
Notes :
1. Odd-lot holders may not dematerialise or rematerialise their ordinary shares
between Monday, 19 July 2004 and Friday, 23 July 2004, both dates inclusive.
2. Dematerialised odd-lot holders are required to notify their duly appointed
CSDP or broker of their response to the odd-lot offer in the manner and time
stipulated in the agreement governing the relationship between the odd-lot
holder and his/her CSDP or broker.
3. In the case of holders of certificated shares, new share certificates
reflecting the additional shares purchased or cheques (as applicable) will be
posted at the risk of such holders on or about Monday, 26 July 2004 or within
five business days after the receipt of such documents of title by the transfer
secretaries, whichever is the later.
4. Documents of title of odd-lot holders holding less than 100 shares in
certificated format who make no election in terms of this odd-lot offer will
have no value after Friday, 23 July 2004, other than the relevant odd-lot holder
receiving the proceeds of the sale of the shares concerned.
The circular containing full details of the odd-lot offer is available on
www.capitecbank.co.za
9 July 2004
Stellenbosch
Sponsor
PSG Capital Limited
Date: 09/07/2004 12:44:09 PM Produced by the JSE SENS Department
