| Mon 28 Nov 2005, 11:09 | | Tawana Resources NL - Issue of bonus share options |
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Tawana Resources NL - Issue of bonus share options to shareholders of Tawana
Tawana Resources NL
(Incorporated in Australia)
(Registration number ACN 085 166 721)
Share code on the JSE Limited: TAW ISIN: AU000000TAW7
Share code on the Australian Stock Exchange Limited: TAW ISIN: AU000000TAW7
("Tawana" or "the Company")
ISSUE OF BONUS SHARE OPTIONS TO SHAREHOLDERS OF TAWANA
On 15 November 2005, Tawana published details of the forthcoming issue of bonus
share options ("share options") to take place to all Australian, South African
and other shareholders.
Since publication of the aforesaid announcement, Tawana has received advice that
it is a requirement under the Listing Rules of the Australian Stock Exchange
("ASX") on which exchange the securities of Tawana are primary listed, that the
exercise price of the share options on both the ASX and the JSE Limited ("JSE")
must be identical. The set share option exercise price is Australian $1.00.
Accordingly, save for the exercise price of the share options now being
referenced at Australian $1.00 in place of R5, 00 for South African
shareholders, all terms of the share options as previously announced remain
unchanged.
For avoidance of doubt, the details of and important dates and times pertinent
to the issue of the share options, are as follows:
Details:
Issue ratio: 1 share option for every 3 shares held at the close
of trading on the ASX and JSE, respectively, on
Thursday, 15 December 2005 ("the Record Date"). (1)
Exercise date: Exercise of share options may take place at any time
on or prior to 30 April 2008. (2)
Exercise price: Australian $1.00. (3)
Notes:
1. Eligible shareholders will receive share options based on a shareholder"s
holding of shares at the Record Date, divided by a factor of three rounded down
to the nearest whole number. No fractional entitlements to share options will
accrue or be allocated.
2. Share options may be exercised at any time on or prior to 30 April 2008. A
share option holder must notify his/her broker or Central Securities Depository
Participant ("CSDP"), in accordance with the terms of the engagement mandate
concluded between such share option holder and the broker or CSDP, of an
intention to exercise.
3. Exercise and settlement by South African holders of share options must take
place in Australian dollars or in Rand based on the applicable exchange rate
(Bank selling rate for AUS$ - Cheques and Telegraphic Transfers) quoted by
Standard Bank on the date of exercise.
Important dates and times: 2005
Last day to trade in Tawana shares on the JSE in Thursday, 8 December
order to be entitled to participate in the share
option issue
Tawana shares on the JSE trade ex-entitlement to Friday, 9 December
participate in the share option issue
Share options listed on the JSE and commence trading Friday, 9 December
on the JSE under the ISIN Code AU00000TAW03 from the
commencement of trade
Record date for determination of shareholders of Thursday, 15 December
Tawana entitled to participate in the share option
issue, at close of trading on the JSE
Allocation and issue of share options implemented Monday, 19 December
Eligible Tawana shareholders expected to have their Monday, 19 December
safe custody accounts held at their CSDP or broker
credited with their share option entitlement
Notes:
* All or any of the above dates are subject to change. Any such change will be
released on the Securities Exchange News Service of the JSE and published in the
press.
* Shareholders are advised that trading in shares and share options in Tawana is
settled within the STRATE environment five business days following a trade.
* No dematerialisation or rematerialisation of Tawana share certificates may
take place between Friday, 9 December 2005 and Thursday, 15 December 2005, both
days inclusive.
Representative Office:
Kimberley
28 November 2005
Corporate adviser and sponsor
PricewaterhouseCoopers Corporate Finance
Attorneys
Adian B Horwitz & Associates
Date: 28/11/2005 11:09:05 AM Produced by the JSE SENS Department
