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WAL/JCI - Result of rights offer
WESTERN AREAS LIMITED JCI LIMITED
(Incorporated in the (Incorporated in the Republic of
Republic of South Africa) South Africa)
(Registration Number (Registration Number
1959/003209/06) 1894/000854/06)
Share code: WAR Share code: JCD
ISIN: ZAE000016549 ISIN: ZAE000039681
(`WAL`) Debenture Code: JCDD ISIN:
ZAE000039699
(`JCI`)
Result of rights offer
The announcement below sets out the results of the renounceable rights offer of
13,172,042 new ordinary shares of 100 cents each (`rights shares`) by WAL to its
shareholders at a subscription price of 3 050 cents per rights share to raise
R401,747 million (`the rights offer`), which closed on Friday, 23 July 2004.
WAL shareholders and/or their renounces, subscribed for 8,417,416 rights shares,
equivalent to 63.9% of the total number of rights shares offered as follows:
8,416,387 rights shares, being 63.9% of the rights shares were allocated to
shareholders in respect of rights entitlements subscribed for;
1,029 rights shares were applied for by shareholders wishing to acquire rights
shares in addition to their rights entitlements (`excess applications`).
Excess applications have been allotted in full and the balance of 4,754,626
rights shares has been taken up by JCI in its capacity as underwriter to the
rights offer.
The rights shares were listed in the `Mining - Gold Mining` sector of the JSE
Securities Exchange lists with effect from the commencement of business on
Monday, 19 July 2004.
Certificated shareholders will have their share certificates in respect of the
rights shares subscribed for posted to them today and dematerialised
shareholders will have their safe custody accounts with their Central Securities
Depository Participants or brokers updated today with the rights shares
subscribed for.
Following the rights offer, JCI holds 39.6% of WAL`s issued ordinary share
capital.
Johannesburg26 July 2004
Corporate adviser Sponsor to JCI and Corporate law
WAL adviser
NewFound
Sasfin Corporate Tabacks
Finance
A division of Sasfin
Bank Limited
Date: 26/07/2004 05:02:35 PM Produced by the JSE SENS Department
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