| Fri 30 Jun 2006, 17:46 | | AfroCentric - Salient Dates Of Rights Offer |
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ACT
ACT
AfroCentric - Salient Dates Of Rights Offer
Afrocentric Investment Corporation Limited
(Formerly WB Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1988/000570/06)
JSE code: ACT
ISIN: ZAE000078416
("AfroCentric", or "the company")
SALIENT DATES OF THE RIGHTS OFFERS AND MANDATORY OFFER TO MINORITY SHAREHOLDERS
Further to the announcement on SENS on 23 June 2006 relating to renounceable
rights offers ("the rights offers") of:
- 84 600 000 AfroCentric ordinary shares at a subscription price of 100 cents
each, in the ratio of 900 new ordinary shares for every 100 ordinary shares held
in AfroCentric; and
- 16 638 000 AfroCentric redeemable preference shares at a subscription price
of 91 cents each, in the ratio of 177 new redeemable preference shares for every
100 ordinary shares held in AfroCentric; and
a mandatory offer at 100 cents per ordinary share to minority AfroCentric
shareholders ("the mandatory offer") following a change of control pursuant to
the rights offers;
formal approval has now been received from the Committee of the JSE Limited
("JSE") and the letters of allocation and accompanying documents have been
lodged with the Registrar of Companies for registration.
SALIENT DATES
2006
Last day to trade in AfroCentric shares
in order to qualify to participate in
the rights offers (cum entitlement) on Friday, 14 July
AfroCentric shares commence trading ex
rights on the JSE at 09:00 on Monday, 17 July
Listing of letters of allocation on the
JSE commences at 09:00 on Monday, 17 July
Letters of allocation commence trading
on the JSE at 09:00 on Monday, 17 July
Record date for the rights offers at the
close of business on Friday, 21 July
Circular (and forms of instruction in
the case of certificated shareholders)
distributed to shareholders on Monday, 24 July
Rights offers and mandatory offer open
at 09:00 on Monday, 24 July
Entitlements are credited to custody
accounts at Computershare Nominees (Pty)
Ltd in the case of certificated
shareholders on Monday, 24 July
Safe custody accounts of dematerialised
shareholders at their CSDP or broker are
updated with their entitlements on Monday, 24 July
Last day for trading in letters of Thursday, 3 August
allocation on the JSE on
Last day to trade in ordinary shares to
be eligible to participate in the Thursday, 3 August
mandatory offer to minority shareholders
Shares trade ex the mandatory offer on Friday, 4 August
Listing and trading of rights offer
shares on the JSE commences at 09:00 on Friday, 4 August
Record date for letters of allocation
and for the mandatory offer on Friday, 11 August
Rights offers and mandatory offer close
at 12:00 on (see note 2) Friday, 11 August
Entitlements in terms of the rights
offers available on Monday, 14 August
Payment of mandatory offer consideration
posted and CSDP or broker accounts
credited on Monday, 14 August
Rights shares issued and new share
certificates posted to certificated
shareholders on or about Monday, 14 August
Pay date - CSDP or broker accounts in
respect of dematerialised shareholders
debited and updated on Monday, 14 August
Results of rights offers, mandatory
offer, and abridged revised listing
particulars published on SENS on Monday, 14 August
Results of rights offers, mandatory
offer, and abridged revised listing Tuesday, 15 August
particulars published in the press on
Notes:
Share certificates in respect of AfroCentric shares may not be dematerialised or
rematerialised between Monday, 17 July 2006 and Friday, 21 July 2006, and Friday
4 August and Friday, 11 August, all days inclusive.
Holders of dematerialised AfroCentric shares are required to notify their duly
appointed CSDP or broker of their instructions in respect of the rights offers
in the manner and time stipulated in the agreement governing the relationship
between them and their CSDP or broker.
CSDP"s effect delivery on a "delivery versus payment" method in respect of
dematerialised shares.
The above dates are subject to change. Any change will be announced on SENS and
in the press.
Johannesburg
30 June 2006
Corporate Adviser and Sponsor
Sasfin Capital
A division of Sasfin Bank Limited
Attorneys
HR Levin
Attorneys, notaries and conveyancers
Reporting Accountants
SizweNtsaluba
Corporate adviser to AfroCentric
Centric Capital LLC
Date: 30/06/2006 05:46:59 PM Produced by the JSE SENS Department
