CIL shareholders are referred to the declaration announcement released on the Stock Exchange News Service (“SENS”) of the JSE Ltd. on Tuesday, 4 December 2018 (the “Declaration Announcement”) wherein CIL declared its intention to raise R800 million by way of a non-renounceable rights offer (the “Rights Offer”) of 200 million CIL shares (the “Rights Offer Shares”) at a subscription price of R4.00 per Rights Offer Share, in the ratio of 1.01958098 Rights Offer Shares for every 1 CIL ordinary share held on the record date for the Rights Offer, being Friday, 14 December 2018.
The proposed salient dates and times for the Rights Offer, also contained in the Declaration Announcement, are set out below:
- Circular including form of instruction published on CIL website on Monday, 10 December
- Last day to trade in CIL shares in order to participate in the Rights Offer on Tuesday, 11 December
- CIL shares commence trading ex entitlement at 09:00 on Wednesday, 12 December
- Nil paid letters of allocation listed and suspended from trading under code CILN and ISIN: ZAE000262168 on Wednesday, 12 December
- Rights Offer Circular and form of instruction emailed/posted to qualifying CIL Shareholders on Wednesday, 12 December
- Record Date for participation in the Rights Offer on Friday, 14 December
- Rights Offer opens at 09:00 on Tuesday, 18 December
- In respect of qualifying dematerialised CIL Shareholders, CSDP or broker accounts credited with letters of allocation at 09:00 on Tuesday, 18 December
- In respect of qualifying certificated CIL Shareholders, letters of allocation credited to an electronic account held with the transfer secretaries at 09:00 on Tuesday, 18 December
- Last day to trade to participate in the Rights Offer (no trading is permitted in the form of instruction in respect of letters of allocation which is issued for processing purposes only) on Tuesday, 18 December
- Rights Offer closes on Friday, 21 December
- Record date for take-up in terms of the Rights Offer on Friday, 21 December
- Payment to be made by qualifying certificated CIL Shareholders by 12:00 on Friday, 21 December
- Listing of Rights Offer Shares commences of business on Monday, 24 December
- In respect of qualifying dematerialised CIL Shareholders, CSDP or broker accounts updated with Rights Offer Shares to the extent accepted and debited with the relevant costs at 09:00 on Monday, 24 December
- In respect of qualifying certificated CIL Shareholders, Rights Offer Shares updated with Rights Offer Shares and debited to an electronic account held with the transfer secretaries at 09:00 on Monday, 24 December
- Results of Rights Offer released on SENS on Monday, 24 December