L.A. Group - ODD LOT OFFER PRICE
L.A. GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1936/008786/06)
Share Code: LAR ISIN: ZAE000028676
Share Code: LAN ISIN: ZAE000028684
(`L.A. Group` or `the company`)
ODD LOT OFFER PRICE
Shareholders are referred to the announcement dated 16 August 2004, wherein they
were advised that the board of directors of L.A. Group had proposed, subject to
receiving the approval of shareholders at a general meeting convened to be held
on 7 September 2004, inter alia, for that purpose, to proceed with an odd lot
offer to all shareholders holding fewer than 300 ordinary or `N` ordinary
shares in the company (`odd lot holders`) at the close of business on Thursday,
23 September 2004 (`the odd lot offer`)
In terms of the odd lot offer, odd lot holders may elect to either:-
- subscribe for a sufficient number of additional L.A. Group ordinary or
`N` ordinary shares at the offer price to increase their odd lot
holdings to 300 ordinary or `N` ordinary shares (`the subscription
alternative`);
- to sell their odd lot holdings to the company at a 10% premium on the
offer price (`the cash alternative`); or
- retain their odd lot holdings.
Odd lot holders holding fewer than 100 ordinary or `N` ordinary shares in L.A.
Group Limited should note that, unless they inform the transfer secretaries of
the company (in the case of shareholders holding certificated shares) or their
CSDP or broker (in the case of shareholders holding dematerialised shares) of
their election, their odd lot holdings will be sold to L.A. Group and the net
proceeds remitted to them.
The offer price per share, for shareholders electing the subscription
alternative, and the 10% premium thereon, for shareholders electing the cash
alternative, is determined by the volume weighted average traded price of L.A.
Group ordinary and `N` ordinary shares on the JSE Securities Exchange South
Africa over the five trading dates immediately preceding Tuesday, 31 August
2004. The offer price for the subscription alternative is therefore 343 cents
per L.A. Group ordinary share and 312 cents per L.A. Group `N` ordinary share.
The offer price payable to shareholders electing the cash alternative is 377
cents per L.A. Group ordinary share and 343 cents per L.A. Group `N` ordinary
share.
Cape Town
2 September 2004
Sponsor
Sasfin Corporate Finance
A division of Sasfin Bank Limited
Date: 02/09/2004 03:19:05 PM Produced by the JSE SENS Department
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