COMMAND - PROPOSAL ISSUE OF 28 000 000 CONVERTIBLE
COMMAND - PROPOSAL ISSUE OF 28 000 000 CONVERTIBLE REDEEMABLE PREFERENCE SHARES
AND CAUTIONARY ANNOUNCEMENT
Command Holdings Ltd
(Incorporated in the Republic of South Africa)
(Registration number 1999/014759/06)
Share Code: CMA
ISIN Code: ZAE000023131
(`Command` or `the company`)
PROPOSED ISSUE OF 28 000 000 CONVERTIBLE REDEEMABLE PREFERENCE SHARES AND
CAUTIONARY ANNOUNCEMENT
Shareholders are advised that the board of directors of Command has proposed an
issue of 28 000 000 convertible redeemable preference shares with a par value of
0,001 cent each (`preference shares`), subject to shareholders approval, (`the
transaction`).
Related party transaction
The preference shares will be issued to the following directors of Command:
- MS Mowzer will receive 15 000 000
- ZJ Sithole will receive 10 000 000
- KG Druker will receive 1 500 000
- MI Parker will receive 1 500 000
Due to the fact that the shares will be issued to directors of Command and the
transaction will constitute a related party transaction in terms of the Listings
Requirements of the JSE Securities Exchange South Africa (`JSE`) and
furthermore, if the discount to the market price at the time of the conversion
of the preference shares is not known at the time of the issue of the preference
shares, written confirmation will have to be provided from an independent
professional expert acceptable to the JSE as to whether the terms and conditions
of the issue of preference shares are fair and reasonable to shareholders of
Command.
Cautionary announcement
Accordingly, shareholders are advised to exercise caution when dealing in the
company`s securities until a further announcement is made containing the salient
features of the preference shares, salient date of the general meeting of
shareholders and the financial effects of the transaction.
Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd
(Incorporated in the Republic of South Africa)
(Registration number 1996/000034/07)
Legal adviser
Webber Wentzel Bowens
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
