Proposed listing on JSE and notice of EGM

 

TIDMCRF 
 
RNS Number : 8627J 
Ciref PLC 
08 April 2010 
 
 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE 
  OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY 
                JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL 
 
                            CIREF Plc ("the Company") 
PROPOSED LISTING ON THE JOHANESBURG STOCK EXCHANGE AND ASSOCIATED PLACING OF NEW 
               SHARES AND NOTICE OF EXTRAORDINARY GENERAL MEETING 
 
As stated in the Company's circular to Shareholders dated 25 November 2009, the 
Board disclosed details of its plans to list the Company on the Main Board of 
the JSE. 
The Board has progressed the steps necessary to facilitate the proposed listing 
and as part of this process, the Company needs to adopt new articles of 
association, increase both the authorised share capital of the Company and the 
Board's authority to allot Ordinary Shares for cash, and disapply pre-emption 
rights for the proposed placing to be implemented in conjunction with the 
listing. 
As part of the proposed listing on the JSE, the Company is proposing to raise 
approximately GBP125 million of new equity funding, through the placing of new 
ordinary shares in the Company. The Company intends to invest the proceeds of 
the proposed fundraising in accordance with its stated investment policy. 
Accordingly, the Company has today posted to shareholders a Circular which sets 
out details of the steps so far taken in respect of the proposed listing of 
Ciref on the JSE, the provisions of the Company's proposed New Articles and the 
notice of the Extraordinary General Meeting. 
At the Company's Extraordinary General Meeting, which will take place at 10.30 
am on 30 April 2010 at Channel House, Green Street, St Helier, Jersey, the 
following resolutions will be considered by its Shareholders: 
 Resolution 1 
That the Directors of the Company be generally authorised to exercise all the 
powers of the Company to allot up to an aggregate nominal amount of GBP150 
million of the Company's issued Ordinary Shares. 
Resolution 2 
That the authorised share capital of the Company be increased to GBP10 million 
comprising 1 billion new ordinary shares of GBP0.01 each. 
Resolution 3 
That the Directors of the Company be empowered to allot Ordinary Shares pursuant 
to the authority conferred on them by Resolution 1 as if Article 3.4(a) of the 
Company's Articles of Association (containing rights of pre-emption) did not 
apply to any such allotment. 
Resolution 4 
That the New Articles be adopted by the Company in replacement for the articles 
of association of the Company operative at the date of this document. 
Definitions in this announcement shall bear the same meaning as those in the 
Circular to Shareholders 
A Copy of the circular is available from the Company's website at www.ciref.je. 
Enquiries: 
+----------------------------------+--------------------------+ 
| Ciref Plc                        |        [phone] | 
| Gavin Tipper - Chairman          |                          | 
+----------------------------------+--------------------------+ 
| Singer Capital Markets           |       [phone] | 
| Nicholas How / Richard Savage    |                          | 
+----------------------------------+--------------------------+ 
| Powerscourt                      |       [phone] | 
| Matthew Fletcher / Karen Le      |                          | 
| Cannu                            |                          | 
+----------------------------------+--------------------------+ 
| Corovest Fund Managers Limited   |                          | 
| Nicolaas Faure                   |          [phone] | 
|                                  |                          | 
+----------------------------------+--------------------------+ 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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