| Wed 25 Jan 2006, 7:22 | | Foschini Limited - Results Of Secondary Placing Of Ordinary Shares In Foschini |
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FOS
FOS
Foschini Limited - Results Of Secondary Placing Of Ordinary Shares In Foschini
Limited
FOSCHINI LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 1937/009504/06)
Share Code: FOS
ISIN Number: ZAE000031019
("Foschini")
RESULTS OF SECONDARY PLACING OF ORDINARY SHARES IN FOSCHINI LIMITED ("FOSCHINI")
J.P. Morgan Securities Ltd. ("JPMorgan" or the "Manager") has completed a
secondary placing of 5 million ordinary shares in Foschini, representing in
aggregate 2.1 per cent. of the issued share capital of Foschini (the "Placing"),
at a price of R54.50 per share.
The sellers of the ordinary shares were companies owned by trusts of which
members of the Lewis family, including Michael Lewis, a non-executive Director
of Foschini, are discretionary beneficiaries (collectively, the "Seller"). This
sale was to balance the Seller"s investment portfolio. The Seller will continue
to own c.16.4 million ordinary shares in Foschini, representing c.6.8% of
Foschini. The Seller has consented to a lock-up of 180 days with respect to its
residual holding. The Seller intends to remain a long term investor in Foschini,
and Michael Lewis intends to remain a Non-executive Director.
Dated 25 January 2006
Enquiries:
JPMorgan
Eric von Glehn Tel: +27 11 507 0400
Luis Vas-Pinto Tel: +44 20 7325 1000
This announcement has been issued by the Manager and is the sole responsibility
of the Manager. This announcement is for information purposes only and does not
constitute an offer or an invitation to acquire or dispose of any securities of
Foschini Limited in the United States, Canada, Australia or Japan or in any
other jurisdiction in which such an offer of solicitation is unlawful. The
Placing Shares have not been, and will not be, registered under the United
States Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an exemption from registration. There will
be no public offering of securities in the United States.
Any investment decision to buy securities in the Placing must be made solely on
the basis of publicly available information which has not been independently
verified by the Manager or the Seller.
Neither this announcement nor any copy of it may be taken, transmitted or
distributed, directly or indirectly in or into the United States, Canada,
Australia or Japan. Any failure to comply with this restriction may constitute
a violation of United States, Canadian, Australian or Japanese securities laws.
The distribution of this announcement and the offering or sale of the Placing
Shares in certain jurisdictions may be restricted by law. No action has been
taken by the Manager, or any of its affiliates, or any other person that would
permit an offer of the Placing Shares or possession or distribution of this
announcement or any other offering or publicity material relating to the Placing
Shares in any jurisdiction where action for that purpose is required. Persons
into whose possession this announcement comes are required by the Manager to
inform themselves about and to observe any such restrictions.
The Manager is acting for the Seller only in connection with the Placing, and no
one else, and will not be responsible to anyone other than the Seller for
providing the protections offered to clients of the Manager nor for providing
advice in relation to the Placing.
Date: 25/01/2006 07:22:13 AM Produced by the JSE SENS Department
