» Hedging of Rights Offer Proceeds

Hedging of Rights Offer Proceeds

Posted on: 8 October 2012


Shareholders are referred to the announcement released on the Stock Exchange News Service of the JSE, the Regulatory News Service of the London Stock Exchange and the Bucharest Stock Exchange on 5 October 2012 in relation to the rights offer by NEPI (“the rights offer”) under the terms of which NEPI shareholders will be offered a total of 12 345 680 new NEPI shares (“new NEPI shares” or “rights offer shares”) in the ratio of 9.37648 new NEPI shares for every 100 ordinary shares held by them on Friday, 26 October 2012 for shareholders on either the South African share register or the UK share register, or on Monday, 22 October 2012 for shareholders registered in Romania.

Shareholders are advised that NEPI has hedged the EUR:ZAR exchange rate at a forward rate of €1.00:R10.866 in respect of the proceeds from the rights offer which the company expects to receive from South Africa.

This has no impact on the subscription price for rights offer shares as previously announced.