ECSP4,ECSP6,ECSP5,ECS : Default in respect of redemption of Series 2 Class A, B and C Preference Shares:
ECSPONENT LIMITED
Incorporated in the Republic of South Africa
Registration number: 1998/013215/06
JSE Code: ECS - ISIN: ZAE000179594
Debt Issuer Code: ECSD
("the Company" or "Ecsponent")
Preference Shares Series number JSE Code ISIN
Class A 2 ECSP4 ZAE000202495
Class B 2 ECSP5 ZAE000202503
Class C 2 ECSP6 ZAE000202511
DEFAULT IN RESPECT OF THE REDEMPTION OF SERIES 2, CLASS A, B AND C PREFERENCE SHARES
Holders of Series 2 Class A, Class B and Class C Preference Shares are referred to the following
announcements issued by the Company on the Stock Exchange News Service ("SENS"):
* dated 10 February 2010, which contained, inter alia, a cautionary announcement advising
shareholders to exercise caution when dealing in the Company's securities; and
* dated 11 February 2020 in which the Company provided an update on its capital restructure,
and are advised that the Company has confirmed that it is unfortunately not in a position to redeem the
preference shares detailed below.
Class A, Series 2 Class B, Series 2 Class C, Series 2
Description of preference shares: Fixed-rate, Zero-rate, Variable-rate,
redeemable, redeemable, redeemable,
convertible, convertible, non- convertible,
cumulative non- participating cumulative non-
participating preference shares participating
preference shares of no par value preference shares
of no par value of no par value
Number of preference shares being 246 946 461 660 1 175 170
redeemed:
Redemption price per preference 100% of Initial 170% of Initial 100% of Initial
share: Issue Price Issue Price Issue Price
R100 R170 R100
Total amount payable on R24 694 600 R46 166 000 R117 517 000
redemption:
Due date for payment of the Monday, 9 March Monday, 9 March Monday, 9 March
redemption amount 2020 2020 2020
Payment of an accrued dividend in respect of the above preference shares:
An accrued dividend for the period 5 February 2020 to the close of business on 6 March 2020 is due and
payable in respect of the above preference shares, however, the Company also advises that it is not in a
position to pay such dividend obligations.
The Company continues to explore various options relating to the capital restructure of the preference
shares and/or alternative forms of funding and will release a further announcement in this regard as soon
as possible.
For more information about this announcement or the Ecsponent group, email
investor.relations@ecsponent.com or visit www.ecsponentlimited.com/investor-relations
21 February 2020
Pretoria
Sponsor to Ecsponent
Questco Corporate Advisory (Pty) Ltd
Date: 21-02-2020 05:37:00
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