Shareholders are referred to the cautionary announcement dated 20 January 2006. River Group is authorised to announce that Petmin has reached agreement to undertake a specific issue of shares for cash (“the issue”) to raise at least R60 million at an issue price of 90 cents per new Petmin share. This will result in the issue of 66 666 666 new Petmin shares.
New Africa Mining Fund Nominees (Pty) Ltd (“NAMF”) has agreed to subscribe for new Petmin shares to the value of at least R40 million, amounting to 44 444 444 new Petmin shares.
PSG Capital (Pty) Ltd (“PSG”) and another institution have agreed to subscribe for new Petmin shares in the amount of R10 million each in the issue subject, inter alia, to:
Related Party Transaction
The specific issue of shares for cash to NAMF and PSG constitutes a related party transaction in terms of the Listings Requirements of the JSE Limited (“JSE”).
Circular to Shareholders and Financial Effects
A circular containing all information on the issue, the financial effects and convening a general meeting of shareholders to vote on the specific issue of shares for cash will be posted to shareholders within the next 28 days.
Results of the Annual General Meeting and General Meeting
The directors of Petmin are pleased to announce that 82% of the Petmin shareholders were present in person or by proxy at the annual general meeting and at the general meeting held on 31 January 2006 to approve the resolutions tabled.
All the resolutions tabled at the annual general meeting were passed unanimously and the resolutions in respect of the Petmin share option scheme and the change of name of Petra Mining Limited to Petmin Limited tabled at the general meeting were also passed unanimously. The time table for the change of name is as follows:
February 2006
Friday, 10 - Last date to trade in the old name shares on
Monday, 13 - Trade in the new name of Petmin commences with the opening of trade on the JSE under the short name of "Petmin", under share code "PET" and with ISIN ZAE000076014 on.
Friday, 17 - Record date
Monday, 20 - New share certificates in the name of Petmin posted to certificated shareholders who have surrendered their share certificates with the "old" name on or before 12:00 on Friday, 10 February 2006. CSDP/Brokers accounts updated with the new name of Petmin.
Further Cautionary Announcement
Shareholders are also advised that the company continues to be involved in negotiations, including negotiations with an internationally listed company. If successfully concluded, it may have a material effect on the price of the company’s securities. Accordingly, shareholders are advised to continue to exercise caution when dealing in their Petmin securities until a further announcement is made.
Sponsor
River Group
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