NEPI advises that it has placed a total of 2 980 061 new ordinary shares in the Company (“New Shares”) with shareholders registered on the South African register at a price of R43.50 per share pursuant to a placement for cash, raising gross proceeds of R129.6 million (the “Private Placement”). At this level, the Private Placement was heavily oversubscribed. The issue price of R43.50 represents a 2% discount to the 30 business day volume weighted average traded price prior to the date that the Private Placement was agreed between NEPI and the parties subscribing for the New Shares. The proceeds of the Private Placement will be used to fund developments and acquisitions of further operating assets.
Application has been made for the New Shares issued under the Private Placement to be admitted to trading on the JSE Limited, the AIM Market of the London Stock Exchange and the Bucharest Stock Exchange (“BVB”) which is expected to take place on Wednesday, 3 October 2012 (“Admission”).
Total Voting Rights
Following Admission, the total issued share capital of the Company will increase to 131 666 472 Ordinary Shares with voting rights.
Therefore, the total number of voting rights in NEPI will be 131 666 472 which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, NEPI under the UK Financial Services Authority’s Disclosure and Transparency Rules.