|
The Afrikander Lease Limited - General issue of shares for cash
The Afrikander Lease Limited
(Incorporated in the Republic of South Africa)
AFL (JSE) AFKDY (NASDAQ)
(Registration number 1921/006955/06)
(`Aflease`)
(ISIN Number : ZAE000000253 Share Code : AFL)
GENERAL ISSUE OF SHARES FOR CASH
Introduction
Shareholders are advised that Aflease has concluded a number of issues of shares
for cash, which was made in terms of the general authority to issue shares for
cash granted by shareholders at the annual general meeting held on 28 June 2004.
In total 12 974 884 new Aflease ordinary shares of 2 cents per share (`new
Aflease shares`) were issued at an average issue price of R1.73 per share, which
equates to a 3.3% premium to the weighted average traded price of Aflease shares
on the JSE Securities Exchange South Africa (`JSE`) for the 30 business days
prior to the date on which the agreements were reached. The cash issue
constitutes 6.04% of the issued share capital of Aflease prior to such issue.
The new Aflease shares will rank pari passu with the existing issued shares of
Aflease. Application has been made to the JSE for the listing of the new Aflease
shares with effect from 22 October 2004.
Rationale
The uranium market continues to improve and Aflease has identified the need to
expedite it`s uranium project planning. As such, a mine plan will be developed
for phase 1 (the Soft Start Option) in order to commence uranium production at
the earliest opportunity.
The funds raised will be utilised to proceed with the development of such a
plan.
Pro forma financial effects for the quarter ended 30 June 2004
Per Aflease share Actual before Pro-forma Percentage
the cash after the change
issue(1) cash issue
(2)
Loss (7.06) (6.46) 8.46%
Headline loss (7.06) (6.46) 8.46%
NAV 51.13 58.25 13.91%
Tangible NAV 51.13 58.25 13.91%
Notes
The `Actual before the cash issue` column is based on the unaudited financial
results of Aflease for the six months ended 30 June 2004 as published in the
press.
The `Pro Forma after the cash issue` column is based on the assumption that
R22,398 million in cash in respect of the cash issue was received on 1 January
2004 and earned interest at an after tax rate of 3.88% for the six months to 30
June 2004.
The pro forma financial information is the responsibility of the directors of
Aflease.
Johannesburg
27 October 2004
Investment bank and sponsor
Nedbank Corporate
Date: 27/10/2004 01:21:04 PM
Produced by the JSE SENS Department
| 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. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
