ELD - Eland Platinum - Issue of 5 million new Elan
ELD
ELD
ELD - Eland Platinum - Issue of 5 million new Eland Platinum ordinary shares for
cash
Eland Platinum Holdings Limited
Incorporated in South Africa
Registration number 2005/029957/06
JSE code: ELD ISIN: ZAE000078655
("Eland Platinum" or "the Company")
Issue of 5 million new Eland Platinum ordinary shares for cash
Introduction
At a general meeting of the Company held on 12 July 2006, the requisite majority
of Eland Platinum shareholders approved an ordinary resolution authorising the
directors to issue shares for cash in accordance with paragraph 5.52 of the JSE
Limited Listings Requirements ("general authority"). In accordance with the
general authority the Company has successfully placed 5 000 000 ordinary shares
("the placed shares"), equating to 7,5% of the Company`s issued share capital at
a price of R70 per share to Al Rajhi Holdings W.L.L., a Kingdom of Bahrain
registered investment house, to fund corporate development activities, for a
total consideration of R350 million
It is expected that the new shares will be listed on the JSE on 30 March 2007
and will rank pari passu with the existing issued shares.
Following the issue of the new shares, Al Rajhi Holdings W.L.L. will hold 8
million Eland Platinum shares, equivalent to some 11.2% of the issued share
capital.
Financial effects
The financial effects of the aforementioned issue of shares for cash are
currently being finalized and will be published in due course.
Johannesburg
22 March 2007
Sponsor
Nedbank Capital
Date: 22/03/2007 08:29:53 Produced by the JSE SENS Department.
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