SAN - Sanyati Holdings Limited - Competition Commi
SAN
SAN
SAN - Sanyati Holdings Limited - Competition Commission Clearance And
General Issue For Cash
SANYATI HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1988/002538/06)
(JSE code: SAN
ISIN: ZAE000081055)
COMPETITION COMMISSION CLEARANCE AND GENERAL ISSUE FOR CASH
Introduction
Further to the announcements dated 5 December 2006 and 8 December 2006, in terms
of which Sanyati announced the purchase of all the issued shares in and claims
on loan account against African Olive Trading 69 (Proprietary) Limited trading
as KZ Piling, Kwa Zulu Piling (Proprietary) Limited, Triponza Trading 257 CC and
Mega Pile CC (collectively known as KZN Piling Group) from the shareholders of
KZN Piling Group ("the Sellers") ("the KZN transaction"), shareholders are
advised that the final condition precedent to the KZN transaction has been
satisfied, namely the unconditional approval of the KZN transaction by the
Competition Commission ("the final condition precedent"). Notification in this
regard was received by Sanyati on Tuesday, 9 January 2007.
General issue for cash
At the general meeting of the company held on 11 April 2006, the requisite
majority shareholders approved the ordinary resolution authorising the directors
to issue shares for cash in accordance with the Listings Requirements of JSE
Limited ("Listings Requirements").
As previously announced, Sanyati has placed 12 048 193 new ordinary shares with
selected investors at 166 cents per share, to partly fund the KZN transaction,
which represent a 5.6% increase in the issued ordinary share capital of the
company.
The issue price of 166 cents per share represent a 10% discount to the 30 day
weighted average price ended 28 November 2006, being the date the issue price
was agreed by the directors of Sanyati.
The shares have been issued to public shareholders as defined by the Listings
Requirements.
The JSE Limited has granted a listing of the new shares with effect from
commencement of business on Friday, 19 January 2007.
Conclusion
Accordingly the board of Sanyati announces that the KZN transaction is now
unconditional in all respects.
Johannesburg
16 January 2007
Designated adviser Exchange Sponsors
Auditors PKF Chartered Accountants
Attorneys Deneys Reitz Inc.
Date: 16/01/2007 13:58:38 Produced by the JSE SENS Department.
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