Shareholders are referred to the rights offer to NEPI shareholders which closed on Friday, 17 December 2010 (“the rights offer”) and are advised that in respect of the 15 000 000 NEPI shares (“new NEPI shares” or “rights offer shares”) which were offered, shareholders and/or their renouncees applied for a total of 15 000 000 new NEPI shares (100%).
The applications included excess applications for 5 984 887 new NEPI shares of which 1 536 224 new NEPI shares will be allocated equitably based on the number of shares held by the shareholders concerned and the number of excess shares applied for, taking cognisance of the number of shares and rights held by the shareholder immediately prior to such allocation, including those taken up as a result of the rights offer, and the number of excess shares applied for by such shareholder.
Following the issue of the new NEPI shares, the total issued share capital of the company will increase to 76 993 734 ordinary shares.
It is expected that the new NEPI shares will commence trading on the London Stock Exchange and the JSE Limited today, 20 December 2010, from 8.00 a.m UK time and 9.00 am SA time, respectively.
For shareholders on the UK share register, it is expected that the new NEPI shares in uncertificated form will be credited to CREST accounts as soon as practicable after 8.00 a.m. UK time today, 20 December 2010, and that share certificates in respect of new NEPI shares in certificated form will be despatched to shareholders by 29 December 2010.
Dematerialised shareholders on the SA share register who have subscribed for rights offer shares will have their accounts debited and updated by their CSDP/broker on Monday, 20 December 2010. Certificated shareholders on the SA share register who have subscribed for rights offer shares will have certificates posted to them on Wednesday, 22 December 2010.
Dematerialised shareholders on the SA share register who applied for excess rights offer shares will have the excess shares allocated to them debited to their accounts by their CSDP/broker on Wednesday, 22 December 2010.
Certificated shareholders on the SA share register who applied for excess rights offer shares will have certificates and/or refund cheques posted to them on or about Wednesday, 22 December 2010.
The company confirms that as the company`s central management and control is considered to be outside of the United Kingdom, the City Code on Takeovers and Mergers in the United Kingdom (“the Takeover Code”) does not apply to the company. Shareholders are advised that should the composition of the company`s board change in the future, the Takeover Code may apply to the company in the future.
All terms defined in the circular to NEPI shareholders in respect of the rights offer, dispatched on 29 November 2010 shall have the same meaning in this announcement.