| Thu 22 Jul 2004, 16:47 | | Rights Offer |
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Mercantile Lisbon Bank Holdings Limited - Rights Offer
MERCANTILE LISBON BANK HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1989/000164/06)
Share code: MTL ISIN: ZAE000027082
(`Mercantile` or `the company`)
RIGHTS OFFER
1. Introduction
It was announced in the press on Thursday, 27 May 2004 that the recapitalisation
of Mercantile would take place through a rights offer, fully underwritten by
Caixa Geral de Depositos S.A. (`CGD`), in the aggregate amount of R555 million.
Shareholders are advised that the directors of the company have resolved to
proceed with a rights offer of 3 083 333 334 ordinary shares with a par value of
one cent each (`rights shares`) to shareholders of the company at an issue price
of 18 cents per rights share (`the rights offer`).
The JSE Securities Exchange South Africa (`JSE`) has approved the listing of
the letters of allocation relating to the rights shares from 09:00 on Friday, 6
August 2004 to the close of trade on Friday, 27 August 2004. Mercantile
shareholders recorded in the register at the close of trade on Friday, 13 August
2004, the record date, will receive the right to subscribe for rights shares in
terms of the rights offer in the ratio of 360.37713 rights shares for every 100
Mercantile shares held, at a subscription price of 18 cents per rights share.
Only whole numbers of shares will be issued and Mercantile shareholders will be
entitled to rounded numbers of shares once the ratio of entitlement has been
applied.
The rights shares will, upon allotment and issue, rank pari passu in all
respects with the Mercantile shares that are currently in issue.
2. Salient dates and times
The salient dates and times for the rights offer are set out below.
2004
Last day to trade in Mercantile shares in order to
qualify to participate in the rights offer
(cum entitlement) Thursday, 5 August
Listing of letters of allocation on the JSE commences
at 09:00 on Friday, 6 August
Letters of allocation commence trading on the JSE at 09:00 on Friday, 6 August
Mercantile shares commence trading ex-rights on the JSE at
09:00 on Friday, 6 August
Record date for the rights offer at the close of business Friday, 13 August
Rights offer opens at 09:00 on Monday, 16 August
Circular and (in the case of holders of certificated
Mercantile shares) form of instruction posted to
shareholders Monday, 16 August
Last day for trading in letters of allocation on the JSE Friday, 27 August
Listing of rights shares on the JSE commences at 09:00 on Monday, 30 August
Rights offer closes at 12:00 on (see note 3) Friday, 3 September
Record date for letters of allocation Friday, 3 September
Entitlements in terms of the rights offer available Monday, 6 September
Rights shares issued and share certificates posted
to holders of certificated Mercantile shares on or about Monday, 6 September
Central Securities Depository Participant (`CSDP`)/Broker accounts in respect of
holders of dematerialised
Mercantile shares debited and updated on Monday, 6 September
Results of rights offer announced on SENS Monday, 6 September
Results of rights offer announced in the press Tuesday, 7 September
Notes:
1. In respect of Mercantile shares, share certificates may not be dematerialised
or rematerialised between Friday, 6 August 2004 and Friday,
13 August 2004, both days inclusive.
2. CSDPs effect payment on a delivery versus payment method in respect of
holders of dematerialised Mercantile shares.
3. If you are a holder of dematerialised Mercantile shares you are required to
notify your duly appointed CSDP/broker of your acceptance of the rights offer in
the manner and time stipulated in the agreement governing the relationship
between yourself and your CSDP/broker.
3. Documentation
A circular and (in the case of holders of certificated shares) form of
instruction will be posted to shareholders on Monday, 16 August 2004.
Johannesburg
22 July 2004
Investment bank and lead sponsor
STANDARD BANK
Attorneys
VORSTER PEREIRA
Independent advisers
Rand Merchant Bank
Corporate Finance
A Division of FirstRand Bank Limited
Sponsor
BRIDGE CAPITAL
Reporting accountants and auditors
Deloitte & Touche Chartered Accountants (SA)
Registered Accountants and Auditors
Date: 22/07/2004 04:28:49 PM Produced by the JSE SENS Department
