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Beige - Results of Rights Offer and Basis of Allocation of Excess Applications
Beige Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/006871/06)
("Beige" or "the company")
ISIN Code: ZAE000034161 Share code: BEG
RESULTS OF RIGHTS OFFER AND BASIS OF ALLOCATION OF EXCESS APPLICATIONS
The directors of Beige are pleased to present the results of the rights offer to
Beige shareholders ("the rights offer") of 228 305 833 new Beige shares ("rights
shares") at an issue price of 5 cents per rights share, to raise R11 415 291.65,
which rights offer closed on Thursday, 15 December 2005.
Beige shareholders and their renouncees subscribed for 154 478 060 rights
shares, being approximately 68% of the rights shares available for subscription.
In addition, excess applications were received in respect of 140 446 338 rights
shares, resulting in the rights offer being oversubscribed by 29%. Only 73 827
774 rights shares are available for allocation in respect of the excess
applications. Such excess applications will be handled on the basis that the
excess rights shares available will be allocated to applicants on an equitable
basis, taking into account the number of shares held by the applicant prior to
the allocation of excess shares, including those taken up as a result of the
rights offer and the number of excess securities applied for by the applicant.
All applicants for excess shares will receive up to 500 000 of the excess shares
applied for, with the remaining rights shares available being allocated to
applicants pro rata to their original shareholding and the excess rights applied
for on such applications.
Holders of certificated shares will have new share certificates and refund
cheques (if applicable) posted to them on or about Monday, 19 December 2005.
Central Securities Depository Participant/Broker accounts will be debited and
updated with the excess applications on or about Monday, 19 December 2005.
In accordance with AltX Listings Requirements, shareholders are advised of the
risks of investing in a company listed on AltX and are advised that the JSE does
not guarantee the viability or the success of a company listed on AltX. In
terms of JSE Listings Requirements a Designated Adviser has to be retained by
the company. The Designated Adviser is required to, inter alia, attend all
board meetings held by the company to ensure that all JSE Listings Requirements
and applicable regulations are complied with, approve the financial director of
the company and guide the company in a competent, professional and impartial
manner. If the company fails to retain a Designated Adviser it must make
arrangements to appoint a new Designated Adviser within 10 business days,
failing which the company faces suspension of trading of its securities. If a
Designated Adviser is not appointed within 30 days of its suspension the company
faces the termination of its listing without an offer to minorities.
Johannesburg
19 December 2005
Designated Advisor Corporate Advisor
Arcay Corporate Services Arcay Merchant
Date: 19/12/2005 04:13:36 PM Produced by the JSE SENS Department
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