Wrap Text
Results of the rights offer
African Rainbow Capital Investments Limited
(Incorporated in the Republic of Mauritius)
(Company number: C148430)
JSE and A2X code: AIL ISIN: MU0553S00000
("ARC Investments" or "the Company")
RESULTS OF THE RIGHTS OFFER
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES,
AUSTRALIA, CANADA, HONG KONG, JAPAN AND ANY OTHER TERRITORY WHERE THE EXTENSION OR MAKING OF
THE RIGHTS OFFER WOULD BE UNLAWFUL OR IN CONTRAVENTION OF CERTAIN LAWS OR REGULATIONS. THIS
ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM AN OFFER OF SECURITIES IN THE UNITED STATES OR ANY
OTHER JURISDICATION.
Capitalised words and terms contained in this announcement shall bear the same meanings ascribed
thereto in the declaration data announcement released on the Stock Exchange News Service of the
JSE Limited and A2X News Service on Tuesday, 21 November 2023 ("Declaration Announcement")
and the finalisation announcement released on SENS and A2X News Service on Thursday, 23
November 2023 ("Finalisation Announcement").
1. Introduction
ARC Investments shareholders are referred to the Declaration Announcement wherein shareholders
were advised of ARC Investments' intention to raise ZAR750 million through a fully committed and
underwritten pro rata non-renounceable Rights Offer of the Rights Offer Shares at the Rights Offer
Price. Shareholders are also referred to the Finalisation Announcement setting out the final terms of
the Rights Offer and the Rights Offer circular dated Monday, 27 November 2023.
Shareholders are advised that ARC Investments has successfully raised ZAR750 million in terms of (i)
the Rights Offer Shares taken up by the shareholders who followed their rights and subscribed for
Rights Offer Shares, and (ii) the remaining Rights Offer Shares that have been allocated to ARC which
has underwritten the Rights Offer.
2. Results of the Rights Offer
The Rights Offer closed at 12:00 (SAST) on Friday, 8 December 2023. The results are set out below:
Percentage of
Number of Rights
Rights Offer
Offer Shares
Shares
Rights Offer Shares available for subscription 150 000 000 100.00%
Aggregate subscriptions for the Rights Offer
Shares 98 135 993 65.42%
Rights Offer Shares allocated to the underwriter 51 864 007 34.58%
3. Issue of Rights Offer Shares
The custody accounts with CSDPs or brokers of shareholders who have followed their rights will be
credited with their Rights Offer Shares and debited with the relevant subscription price today, Monday,
11 December 2023. Share certificates will be posted by registered post, at the shareholder's risk, to
certificated shareholders to the extent to which they have accepted the Rights Offer.
Ebène, Mauritius (with simultaneous circulation in Johannesburg)
11 December 2023
Transaction Sponsor: Deloitte & Touche Sponsor Services Proprietary Limited
Corporate Advisor: Deloitte Capital (Pty) Limited
Legal adviser as to South African law: Webber Wentzel
Legal adviser as to Mauritian law: BLC Robert & Associates
Important Notice
The information contained herein is not for release, publication or distribution, directly or indirectly, in or
into the United States, its territories or possessions, Canada, Australia, Japan, Hong Kong or any other
jurisdiction in which the distribution or release would be unlawful. These materials are not and do not
contain an offer of securities for sale or a solicitation of an offer to purchase or subscribe for securities
in any jurisdiction, including the United States, Australia, Canada, Japan, Hong Kong or any other state
or jurisdiction in which such release, publication or distribution would be unlawful. The securities to
which these materials relate (the "Securities") have not been, and will not be, registered under the U.S.
Securities Act of 1933 (the "Securities Act"), and may not be offered, sold, taken up, exercised, resold,
renounced, transferred or delivered, directly or indirectly, within the United States unless registered
under the Securities Act or pursuant to an exemption from, or in a transaction not subject to, registration
under the Securities Act. There will be no public offer of the Securities in the United States. Subject to
certain exceptions, the Securities may not be offered or sold in Australia, Canada, Japan, Hong Kong
or any other jurisdiction in which it would be unlawful to do so or to, or for the account or benefit of, any
national, resident or citizen of such countries.
This announcement is only being distributed to and is only directed at: (i) persons who are outside the
United Kingdom; or (ii) investment professionals falling within Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"); or (iii) high net worth
entities falling within Article 49(2)(a) to (d) of the Order; or (iv) persons to whom it may otherwise lawfully
be communicated (all such persons together being referred to as "Relevant Persons"). The ARC
Investments Rights Offer shares are only available to, and any invitation, offer or agreement to
subscribe, purchase or otherwise acquire such ARC Investments Rights Offer shares will be engaged
in only with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this
announcement or any of its contents.
In any member state of the European Economic Area (other than the United Kingdom) that has
implemented Regulation (EU) 2017/1129 (the "Prospectus Regulation"), this announcement is only
addressed to and is only directed at qualified investors in that member state within the meaning of the
Prospectus Regulation.
Date: 11-12-2023 02:30:00
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indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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