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STA
STA
Stratcorp Limited - Issue Of Shares For Cash
STRATCORP LIMITED
(Registration number 2000/031842/06)
(JSE Code: STA & ISIN: ZAE000034294)
("StratCorp" or "the Company")
ISSUE OF SHARES FOR CASH
The board of directors wishes to inform shareholders that it has completed a
general issue of shares for cash whereby 10 480 744 ordinary shares have been
placed with a number of independent public shareholders at a price of 32 cents
each. The price for the issue was determined by the directors on 4 April 2006
based on a premium of 18.52% on the weighted average price of 27 cents for the
period from 9 March 2006 to 3 April 2006. The issue increases the number of
shares in issue from 89 259 464 ordinary shares to 99 740 208 ordinary shares.
The capital raised, amounting to R3 353 838.08 will strengthen StratCorp"s
working capital base. The cash issue was made in terms of the general authority
to issue shares for cash granted to the board by shareholders at the annual
general meeting held on 22 June 2005.
The financial effects of the issue on the earnings per share and net asset value
per share of StratCorp, which is the responsibility of the directors of the
Company and which may not fairly present the financial position of the Company,
is based on the unaudited balance sheet of StratCorp as at 31 August 2005.
Treasury shares held by StratCorp Management Performance Trust and by StratCorp
Personnel Incentive Trust were deducted from the total issued share capital of
the company.
Before(1) Pro forma % increase /
After (2) (decrease)
Net asset value per ordinary share (cents) 23,8 27,7 16,4
Net tangible asset value per share 20,4 24.4 19.6
Earnings per ordinary share (cents) 3,4 3,3 (2,9)
Headline earnings per ordinary share (cents) 2,7 2,6 (3,7)
Notes
1. The "Before" column is based on the unaudited interim results of Stratcorp as
at 31 August 2005 for the net asset value and tangible net asset value
calculations, and the six months ended 31 August 2005 for the earnings and
headline earnings per share calculations.
2. The "After" column is based on the unaudited interim results of Stratcorp as
at 31 August 2005 for the net asset value and tangible net asset value
calculations, adjusted for the issue of the 10 480 744 ordinary shares at 32
cents per share. The earnings and headline earnings per share calculations has
been based on the assumption that the general issue of share for cash was
effective from 1 March 2005. No adjustment has been made for any interest
receivable on the cash proceeds form the general issue of shares for cash.
Centurion
6 April 2006
Sponsor
Exchange Sponsors (Pty)
Limited
Date: 06/04/2006 01:28:41 PM Produced by the JSE SENS Department
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