| Tue 29 Nov 2005, 17:03 | | JCI Limited - Debenture Redemption |
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JCI Limited - Debenture Redemption
JCI LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1894/000854/06)
Debenture code: JCDD (Suspended) & ISIN: ZAE000039699
Share code: JCD (Suspended) & ISIN: ZAE000039681
("JCI" or "the Company")
CONVERSION OR REDEMPTION OF THE SUSPENDED JCI CONVERTIBLE REDEEMABLE 50% SECURED
DEBENTURES OF R1,25 ("DEBENTURES")
INTRODUCTION
Shareholders are referred to the terms and conditions of the Debentures, as set
out in the JCI Limited (formerly Consolidated African Mines Limited) and JCI
Gold Limited merger circular, dated 4 June 2002, which provide for the
conversion of the Debentures into fully paid up ordinary shares of 1 (one) cent
each in the issued ordinary share capital of JCI, with effect from the
conversion date, being 16 January 2006, and in the ratio of one JCI ordinary
share for every Debenture held. In the alternative, Debenture holders can elect
to redeem all or part of their debentures at a redemption price of R1,25 each by
completing the redemption notice and form of surrender.
Debenture holders are informed that those debentures which they did not elect to
redeem will be automatically converted into JCI ordinary shares, with effect
from the conversion date.
RECOMMENDATION TO DEBENTURE HOLDERS BY THE BOARD OF DIRECTORS OF JCI
Debenture holders are referred to the recent Company announcements published on
11 October 2005 and 10 November 2005 respectively, relating to the forensic
investigation currently being conducted, and the delay in the publication of the
Company"s audited annual financial results for the year-ended 31 March 2005.
In light of the aforementioned, the Board of directors recommend, that debenture
holders take all necessary steps, to redeem their debentures and NOT to elect
conversion to ordinary shares.
IMPORTANT DATES
Posting of circular Wednesday, 30 November 2005
Offer to redeem Debentures closes at close of Wednesday, 21 December 2005
business on
Last day to trade in Debentures Friday, 6 January 2006
Debentures suspended from trade at commencement of Monday, 9 January 2006
trade on
Record date for conversion or redemption Friday, 13 January 2006
Debenture holders will have their CSDP or broker Monday, 16 January 2006
accounts updated and/or credited
Certificated Debenture holders will have new Monday, 16 January 2006
ordinary share certificates posted or cheques paid
on or about
Conversion shares issued Monday, 16 January 2006
Debentures listing terminated Tuesday, 17 January 2006
NOTES:
The above dates and times may be subject to amendment. Any such amendment will
be released on SENS and published in the press.
Certificates may not be dematerialized or rematerialized after Friday, 6 January
2006.
CIRCULAR TO SHAREHOLDERS
A circular setting out the terms of the conversion and / or redemption and the
action required by Debenture holders will be posted to Debenture holders on
Wednesday, 30 November 2005.
Johannesburg
29 November 2005
Sponsor
Sasfin Capital
(A Division of Sasfin Bank Limited)
Date: 29/11/2005 05:03:21 PM Produced by the JSE SENS Department
