» Issue of Equity

Issue of Equity

Posted on: 17 September 2009


The Company has today issued 2,815,000 new ordinary shares in the capital of the Company (the "New Shares") pursuant to a placing for cash at a price of ZAR23.50 per share (equivalent to EUR2.10* per share), raising gross proceeds of ZAR66.15 million (EUR5.9 million*).

The Company has issued a further 43,214 New Shares to certain employees of NEPI Investment Management Limited, the Company's investment manager, pursuant to its share incentive scheme.

Application has been made for the New Shares to be admitted to trading on AIM and the JSE Limited on 18 September 2009.

* Euro equivalent amounts are based on the minimum exchange rate in terms of a currency option contract acquired by NEPI prior to the time of this announcement with the result that the funds may be converted into Euro at a better exchange rate.