Reinet rights issue – results of warrant auction

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PRESS RELEASE – FOR IMMEDIATE RELEASE

15th December 2008

Reinet rights issue – results of warrant auction

The Board of Reinet Investments Manager SA is pleased to announce the conclusion of the auction process.

Further to the press release of Friday 12 December 2008, following the clarification of the number of unexercised warrants in South Africa, the final number was 7 692 955.

The auction was conducted earlier today, resulting in 7 692 955 subscription rights (the “Subscription Rights”) attaching to 7 692 955 unexercised warrants issued by Reinet Investments SCA (‘Reinet’) being sold.

The total net proceeds of the auction (after deduction of the costs relating thereto) are estimated to be
11 145 590 and will be paid to the holders of unexercised warrants prorata to their respective entitlements. The amount payable per unexercised warrant is estimated to be
€ 1.4488. Payments will be effected through Reinet’s registrars and the usual settlement systems. Holders of unexercised South African warrant receipts will (subject to a de minimus level) receive their pro-rata entitlement in rand at the exchange rate prevailing when the funds are transferred to the depository agent.

The auction process being concluded, Reinet will issue 87 085 016 new shares on 17 December 2008; the new shares will commence trading on the Luxembourg Stock Exchange from that date. The new shares will be credited to holders’ Clearstream and Euroclear accounts and to Richemont Securities AG, as the Depository in respect of the shares to be issued in the form of South African depository receipts (DRs) on 17 December 2008.

New Reinet DRs will be issued to holders in South Africa on 17 December 2008 and trading in the new DRs will commence on the stock exchange operated by the JSE Limited from that date. Dematerialised holders of Reinet DRs will have their accounts credited on or about 18 December 2008. Certificates in respect of Reinet DRs will be posted to certificated holders on or about the same date.

As a result of the rights issue, the number of Reinet ordinary shares in issue has increased to 195 941 286 ordinary shares. Following the contribution of 23 870 007 shares in British American Tobacco plc (‘BAT’) pursuant to the rights issue, Reinet now holds 84 303 670 BAT shares.

Further information:

Mr Alan Grieve
Chief Financial Officer
Reinet Investments SCA

Tel: +352 22 7252

 

 

Reinet Investments S.C.A.

Registered office: 35, Boulevard Prince Henri, L-1724 Luxembourg
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