SAL
SAL
SAL - Sallies Limited - Proposed Rights Offer
Sallies Limited
(Incorporated in the Republic of South Africa)
(Registration number 1903/001879/06)
("Sallies" or the "company")
JSE share code: SAL
ISIN: ZAE000022588
Proposed rights offer
During the six months ended 31 December 2006 operations at Sallies failed to
achieve budgeted production and as a consequence the company requires re-
financing to fund a working capital shortfall.
The major shareholders have agreed to underwrite a one-for four rights offer at
60 cents per share to raise approximately R75 million. Full details of this
offer will be published in due course.
The board of directors has been reconstituted as previously announced and is
implementing strategies to improve operating performance.
Johannesburg
22 March 2007
Sponsor
Sasfin Capital
A division of Sasfin Bank Limited
Date: 22/03/2007 11:17:52 Produced by the JSE SENS Department.
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