Mercantile - Results Of The Rights Offer
Mercantile Lisbon Bank Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1989/000164/06)
Share code: MTL
ISIN: ZAE000056537
(`Mercantile` or `the company`)
RESULTS OF THE RIGHTS OFFER
1. RESULTS OF THE RIGHTS OFFER
The directors of Mercantile are pleased to announce the results of the rights
offer of 3 083 333 334 shares in the share capital of the company at an issue
price of 18 cents per share (`rights shares`), in the ratio of 360.37713 rights
shares for every 100 shares held at the close of trade on Friday,
13 August 2004 (`the rights offer`).
1 999 032 561 rights shares representing 64.83% of the total number of rights
shares were taken up by Mercantile`s holding company, Caixa Geral de Depositos
(`CGD`). Other shareholders subscribed for 24 020 861 rights shares representing
0.78% thereof. Accordingly, in total, 2 023 053 422 of the
3 083 333 334 rights shares available were taken up, equating to an acceptance
rate of 65.61%.
CGD as underwriter to the rights offer subscribed for the remaining
1 060 279 912 rights shares that were not subscribed for by other shareholders.
Consequently, subsequent to the rights offer, CGD now holds
3 614 018 195 shares, representing 91.75% of the issued share capital of
Mercantile.
No excess applications were available.
2. ADDITIONAL INFORMATION
2.1 Remaining salient dates
On the date of this announcement, or as soon as possible thereafter:
- share certificates in respect of rights shares will be posted to holders of
certificated shares who accepted the rights offer; and
- Central Securities Depository Participant or broker accounts will be credited
with the rights shares and debited with any payments due in respect thereof by
holders of dematerialised shares who accepted the rights offer.
Sandton
6 September 2004
Investment bank and lead sponsor
Standard Bank
Sponsor
Bridge Capital
Attorneys
Vorster Pereira
Reporting accountants and auditors
Deloitte & Touche
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