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ACD
ACD
ACD - Alliance Data Corporation Limited - General issue of 5 Million ordinary
shares for cash
Alliance Data Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/013402/06)
JSE Share code: ACD ISIN: ZAE000065165
("ADC" or "the Company")
General issue of 5 Million ordinary shares for cash
1 INTRODUCTION
Shareholders are advised that ADC has raised R 15 600 000 in capital by the
issue of shares for cash at 312 cents per ordinary share. The issue of
shares for cash will enable ADC to expand its current product offering and
client base by way of future acquisitions.
2 ISSUE FOR CASH
At the annual general meeting of the Company held on 5 October 2006, the
requisite majority of shareholders approved an ordinary resolution
authorising the directors to issue shares for cash in accordance with the
Listings Requirements of JSE Limited ("`the Listing Requirement").
As the issue of the new shares represent a 10% increase in the issued
ordinary share capital of the Company this disclosure is made in terms of
section 11.22 of the Listing Requirements:
* 5 000 000 ordinary shares in the Company has been issued at an issue
price of 312 cents per ordinary share;
* the issue price of 312 cents per share represent a discount of 9.87%
to the 30 day weighted average price ended 9 February 2007, being the
date the issue price was agreed by the directors of ADC;
* the shares have been issued to public shareholders as defined by the
Listings Requirements.
3 FINANCIAL EFFECTS
3.1 The table below sets out the unaudited pro forma financial effects of
the issue for cash on the earnings, headline earnings and the net
asset value and tangible net asset value per ADC share:
Before After Change
(cents) (cents) (%)
(1)
Earnings per share (cents) 25.5 21.9 (14.12%)
(2)
Headline earnings per share 25.5 21.9 (14.12%)
(cents) (2)
Net asset value per share 113 98 (13.27%)
(cents) (3)
Tangible net asset value per 64 55 (14.06%)
share (cents) (3)
Notes:
1 The "before" column are extracted from the reviewed interim
results of ADC for the six months ended 31 August 2006.
2 The figures in the "after" column assume that the 5 000 000
shares were issued, and the cash received on 1 March 2006,
resulting in excess cash deposits of R 15 600 000, which will be
utilized for working capital purposes, therefore no interest
earnings were assumed on these excess cash deposits.
3 The figures in the "after" column assume that the 5 000 000 were
issued on 31 August 2006.
4 The financial effects do not take into account the impact that
the utilization of the cash towards future acquisitions might
have on the earnings per share and headline earnings per share.
3.2 The pro forma financial effects contained in table 3.1 above are the
responsibility of the company`s directors and have been prepared for
the purposes of illustrating how the transaction would have affected
the relevant financial results and position of ADC for the historical
financial period indicated and on a pro forma basis. Accordingly, such
effects do not necessarily fairly represent the financial effects of
the transaction on ADC`s financial position, changes in equity,
results of operations or cash flows.
4 LISTING OF THE NEW SHARES
The JSE Limited has granted a listing of the new shares with effect from
the commencement of business on Thursday, 8 March 2007.
19 March 2007
Johannesburg
Designated Advisor
Exchange Sponsors
Date: 19/03/2007 10:32:53 Produced by the JSE SENS Department.
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