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ACT
ACT
Afrocentric Investment Corporation Limited - Results of the Rights Offers
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")
RESULTS OF THE RIGHTS OFFERS
RESULTS OF THE MANDATORY OFFER TO MINORITY SHAREHOLDERS
Further to the announcement dated 23 June 2006, the directors of
AfroCentric have pleasure in announcing the results of the rights offers of
new ordinary shares and redeemable preference shares referred to therein,
and of the mandatory offer to shareholders following the change of control
of the company:
Results of the ordinary shares rights offer
Percentage
Number of new ordinary shares offered 84 600 000 100%
Subscription price per new ordinary share 100
(cents)
Number of acceptances of the ordinary shares 81 845 740 96.7%
rights offer
Number of new ordinary shares placed on behalf 2 754 269 3.3%
of the underwriters*
* The new ordinary shares not taken up by offerees in terms of the
ordinary shares rights offer were placed with outside parties by the
underwriters in view of considerable demand for the shares.
Results of the redeemable preference shares rights offer
Percentage
Number of new redeemable preference shares 16 638 000 100%
offered
Subscription price per new redeemable preference 91
share (cents)
Number of acceptances of the redeemable 16 193 456 97.3%
preference shares rights offer
Number of new ordinary shares taken up by the 444 544 2.7%
underwriters
The CSDP or broker accounts of dematerialised shareholders will be debited
and updated on Monday, 14 August 2006. New share certificates will be
posted to certificated shareholders on Monday, 14 August 2006.
Results of the offer to minority shareholders
The mandatory offer made by the AfroCentric Empowerment Trust in respect of
the change of control of the company was accepted in respect of 4 500
ordinary shares, or 0.05% of the total of 9 400 000 ordinary shares that
were in issue at the time of the change of control. Payment will be made on
Monday, 14 August 2006 to those who accepted the mandatory offer.
Johannesburg
14 August 2006
Corporate Adviser and Sponsor
Sasfin Capital
A division of Sasfin Bank Limited
Corporate adviser to AfroCentric
Centric Capital Ventures LLC
Attorneys
HR Levin
Attorneys, notaries and conveyancers
Auditors and Reporting Accountants
SizweNtsaluba
Date: 14/08/2006 03:52:02 PM Produced by the JSE SENS Department
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