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L.A. Group - Results and implementation of the odd lot offer
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`)
RESULTS AND IMPLEMENTATION OF THE ODD LOT OFFER
Shareholders are advised that the odd lot offer to shareholders holding fewer
than 300 ordinary or `N` ordinary shares (`odd lots`) in L.A. Group (`odd lot
holders`) at the close of business on Thursday, 23 September 2004, has been
implemented.
Cash alternative
L.A. Group ordinary shares (`ordinary shares`)
L.A. Group purchased 6 652 ordinary shares at R3.77 per ordinary share from 132
odd lot holders electing to sell their odd lots as well as odd lot holders
holding fewer than 100 shares who failed to make an election by 12:00 on
Thursday, 23 September 2004 and who were as a result deemed to have sold their
holdings to the company (`deemed sellers`).
L.A. Group `N` ordinary shares (`N` ordinary shares`)
L.A. Group purchased 1 874 `N` ordinary shares at R3.43 per `N` ordinary share
from 127 odd lot holders electing to sell their odd lots as well as deemed
sellers.
The total consideration paid in respect of the cash alternative is R31 505.86.
Subscription alternative
L.A. Group will be issuing the following shares in terms of the subscription
alternative:
- 90 ordinary shares at a price of R3.43 per share to 1 odd lot holder who
elected to increase its shareholding to 300 ordinary shares; and
- 398 `N` ordinary shares at a price of R3.12 per share to 3 odd lot holders
who elected to increase their shareholding to 300 ordinary shares.
The total consideration to be received in respect of the subscription
alternative is R1 550.47
Retention alternative
29 odd lot holders holding ordinary shares and 110 holding `N` ordinary shares
are retaining their odd lots.
The net effect of the odd lot offer is to decrease the number of odd lot holders
in the company by approximately 65 per cent.
Implementation of the odd lot offer
Odd lot holders who hold their shares in certificated format must note that if
they elected the cash alternative:
- cheques representing the proceeds of the sale of their odd lots will be
posted from Monday, 27 September 2004, or within 5 business days after
surrender of their documents of title, whichever is the later;
- If they hold less than 100 shares and made no election, their documents of
title will have no value after Thursday, 23 September 2004;
- If they have not yet submitted their documents of title to Computershare
Investor Services 2004 (Proprietary) Limited, Ground Floor, 70 Marshall
Street, Johannesburg, 2001 or PO Box 61051, Marshalltown, 2107, they should
do so in order to receive the proceeds of the odd lot offer; and
- Their documents of title ceased to be good for trade or delivery on the JSE
Securities Exchange South Africa, with effect from the close of business on
Thursday, 23 September 2004.
Odd lot holders who hold their shares in dematerialised format must note that
any changes in the number of shares they hold or any amount payable to or
receivable from them will automatically be recorded and debited or credited in
the odd lot holders account with his Central Securities Depository Participant
or broker on Monday, 27 September 2004.
27 September 2004
Cape Town
Sponsor
Sasfin Corporate Finance
A division of Sasfin Bank Limited
Date: 27/09/2004 03:52:03 PM Produced by the JSE SENS Department
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