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Western Areas Limited/ JCI Limited - Results Of The Renounceable Rights Offer
WESTERN AREAS LIMITED JCI LIMITED
(Incorporated in the Republic of (Incorporated in the Republic
South Africa) of South Africa)
(Registration Number (Registration
1959/003209/06) Number1894/000854/06)
Share code: WAR Share code: JCD (suspended)
ISIN: ZAE000016549 ISIN: ZAE000039681
("WAL") Debenture Code: JCDD
(suspended)
ISIN: ZAE000039699
("JCI")
RESULTS OF THE RENOUNCEABLE RIGHTS OFFER
Introduction
Further to the announcements published on 12 May 2005, 30 June 2005, 19 August
2005, 30 August 2005 and 4 November 2005, WAL shareholders are advised that the
results of the renounceable rights offer ("the rights offer") of 35 505 240 WAL
shares ("rights offer shares") to WAL shareholders or their renouncees at 1 800
cents per share in the ratio of 29.95 rights offer shares for every 100 WAL
shares held on the record date for the rights offer, which closed on Thursday,
15 December 2005 were as follows:
% of
Offer offer
shares shares
Offer shares subscribed for in terms of the 35 341 99.54
rights offer 802
Offer shares subscribed for by the 163 438 0.46
underwriters in terms of their underwriting
commitments
Total offer shares available for subscription 35 505 100.00
in terms of the rights offer 240
Total excess applications received for in 31 173 87.80
terms of the rights offer 672
The directors of WAL were unable to allocate the available shares to excess
applications on an equitable basis and have therefore declined all excess
applications. The underwriter in terms of its underwriting commitments has
subscribed for the available shares, namely 163 438 rights offer shares.
The safe custody accounts of dematerialised shareholders, or their renouncees,
who have followed their rights, will be updated and accounts credited by their
CSDP or broker, and share certificates will be posted to certificated
shareholders on or about Tuesday, 20 December 2005.
19 December 2005
Johannesburg
Investment bank Independent reporting
accountants to WAL
Investec Bank Limited KPMG
Corporate Finance
Legal adviser to WAL Sponsor to WAL
Tabacks Sasfin Capital
(A division of Sasfin Bank
Limited)
Date: 19/12/2005 04:07:45 PM Produced by the JSE SENS Department
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