| Wed 28 Sep 2005, 12:26 | | Lonfin - Notice to holders of Subscription Warrant |
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Lonfin - Notice to holders of Subscription Warrants 1996/2005
London Finance & Investment Group P.L.C.
(Incorporated in England - No. 201151)
(S.A. Reg. No. 1980/05550/06)
("Lonfin")
Code: LNFO & ISIN: GB0005264105
Directors: Registered Office:
D.C. Marshall (Chairman) 25 City Road,
Dr. F.W.A.A. Lucas London, EC1Y 1BQ
J.H. Maxwell, CA, CCMI, FRSA
J.M. Robotham, OBE, FCA
28 September 2005
Dear Sir or Madam,
Notice to holders of Subscription Warrants 1996/2005
The FINAL date you may exercise subscription rights in respect of the above
warrants will be 26th October 2005 ("the Subscription Date"), being 28 days
after the Annual General Meeting, which has been set for 28th September 2005.
On the Subscription Date holders of Warrants may exercise their right to
subscribe for all or part of the number of Ordinary Shares of 5p each in the
capital of the Company ("Shares") indicated on their Warrant, at a price of
R2.892 per Share. At 1st September, the latest practical date, the share price
was R3.80 and the net asset value per share was 51.9p (R6.0).
This is the LAST date on which you may exercise your warrants. If not
exercised, they will cease to be of any value to you and will be placed by the
Company.
Shares allotted on exercise of subscription rights will not rank for any
dividends or other distributions declared, made or paid on the Shares if the
record date for such dividends or other distributions is prior to the relevant
Subscription Date, but subject thereto, will rank pari passu in all respects
with the Shares in issue at that date.
Should you wish to exercise all or part of your rights on this occasion the
following procedure should be followed:
(a) Complete the Notice of Exercise of Subscription Rights attached to the
Warrant certificate in accordance with the instructions printed thereon.
If you desire any of the shares issuable on exercise of your subscription
rights to be allotted to some other person, you should complete the section
requesting a form of nomination. If your Warrant certificate has been
lost, defaced or destroyed and you wish to exercise your rights under the
terms of the Warrants you should write to the Company"s Registrars giving
notice of your intention to subscribe with the appropriate payment. You
will then be sent a form of indemnity for completion to cover the lost,
defaced or destroyed certificate.
(b) Send the Warrant certificate and the Notice of Exercise of Subscription
Rights duly completed, together with your cheque for the number of shares
you wish to purchase at R2.892 per Share to the South African registrars at
the address below. All payments must be made by cheque or bankers draft
drawn in South African rand made payable to London Finance & Investment
Group P.L.C., crossed "Account Payee" and drawn on a South African bank.
Computershare Investor Services 2004 (Pty.) Limited
70 Marshall Street, Johannesburg, 2001, Republic of South Africa
(P.O. Box 61051, Marshalltown, 2107)
Tel: 011 370 5000
to arrive not later than 3.00 p.m. on 26th October 2005
The number of Shares that you wish to subscribe for should be clearly indicated.
Notice of exercise once given may not be withdrawn without the consent of the
Directors of the Company. Notices will not be acknowledged but certificates for
the Shares allotted, together with warrant certificates for any balance of the
subscription rights not exercised, will be despatched by ordinary post within 28
days after the Subscription Date. All documents and cheques will be posted at
the risk of the persons entitled thereto. Pending despatch of certificates,
transfers will be certified against the Register.
This is the FINAL opportunity to exercise subscription rights under the
Warrants. After the exercise date on 26th October 2005, any Warrants not
exercised will be placed by the Directors with institutions or individuals who
will subscribe for new shares at the exercise price of 25p or the rand
equivalent at the time.
The middle market price for the Shares on the London Stock Exchange on 1st
September 2005 (the latest practicable date before despatch of this letter) was
R3.80 and the net assets value per share at that date was 51.9p (R6.0)
Any Warrants not so exercised will then lapse and cease to be of value.
The exercise of warrants would not normally give rise to a charge to taxation.
Subsequent disposal, however, of shares arising from an exercise of warrants may
give rise to a charge to Capital Gains Tax.
This Notice is a reminder of your right to apply for Shares and is not intended
to convey in any way a recommendation by the Directors as to whether or not you
should exercise that right. In this respect, if you require advice, you should
contact your stockbroker, bank manager, solicitor, accountant or other
independent financial adviser authorised pursuant to the Financial Services and
Markets Act 2000.
Application will be made for any Shares allotted upon exercise of subscription
rights to be admitted to the Official List of the London Stock Exchange and to
be listed on the JSE Securities Exchange South Africa.
Any enquiries should be made to the Company"s Registrar whose details are given
above.
By order of the Board,
City Group P.L.C.
Secretaries
SALIENT DATES
Last day to trade in warrants cum
conversion Wednesday 26 October 2005
Warrants suspended Thursday 27 October 2005
Record date Wednesday 2 November 2005
Warrants terminated at commencement of trade Thursday 3 November 2005
New shares will be issued within 28 days of record date
A copy of this notice was mailed to Warrant Holders on 5 September 2005 together
with the Annual Financial Statements.
By order of the Board,
City Group P.L.C.
Secretaries
Sponsor
Imara Corporate Finance South Africa (Pty) Ltd
Date: 28/09/2005 12:26:05 PM Produced by the JSE SENS Department
