|
SCN
SCN
Scharrig Mining Limited - General issue of shares for cash
Scharrig Mining Limited
(Registration number 1992/001973/06)
Share code: SCN ISIN: ZAE000006474)
("Schamin" or "the Company")
General issue of shares for cash
PLACEMENT OF SHARES
Schamin shareholders are advised that the Company has issued a total of 15
million shares to selected financial institutions raising a total of
R138,75 million ("the issue") in terms of the general authority granted to
the directors to issue shares for cash at the annual general meeting held
on 30 September 2005.
APPLICATION OF PROCEEDS
The proceeds of the issue will be utilised to satisfy part of the
acquisition consideration payable for the acquisition of Transbor (Pty)
Limited and Geosearch International Limited, which acquisitions were
approved by shareholders in general meeting on 25 August 2006.
PRO FORMA FINANCIAL EFFECTS OF THE ISSUE
The table below sets out the pro forma effect on earnings per share
("EPS"), headline earnings per share ("HEPS"), net asset value ("NAV") and
net tangible asset value ("NTAV") per share. The pro forma financial
effects have been prepared for illustrative purposes only, and in terms of
the Listings Requirements of the JSE Limited, and therefore, due to their
nature, may not truly reflect Schamin"s financial position or results. The
directors of Schamin are responsible for the preparation of the pro-forma
financial information.
Audited Pro Forma
Before the After the
issue (cents) issue (cents) Change (%)
EPS 69.3 68.9 0.54
HEPS 69.3 68.9 0.54
NAV 240.2 307.6 28.06
NTAV 240.2 307.6 28.06
Notes:
- The "before" figures are based on the audited results for the year
ended 31 March 2006.
- The EPS and HEPS figures are based on the weighted number of shares in
issue at 31 March 2006.
- The NAV and NTAV per share calculations are based on the actual number
of shares in issue at 31 March 2006.
- The "after" column is based on the assumption that the issue was
effective from 1 April 2005 for EPS and HEPS and on 31 March 2006 for
NAV and NTAV purposes, and that the proceeds were utilised to repay
borrowings. Borrowings incurred interest at an average rate of 7.5%
after taxation.
LISTING OF NEW SHARES
Application has been made to the JSE for the listing of the additional
shares, which listing is expected on or about Friday, 8 September 2006.
Boksburg
6 September 2006
Sponsor
Vunani Corporate Finance
Reporting Accountants
Siyabala Inc
Date: 06/09/2006 12:28:43 PM Produced by the JSE SENS Department
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
