GNDE - GND/GNDP - Grindrod - Cautionary Announcement

22/08/2011 12:42:09

GND/GNDP - Grindrod - Cautionary Announcement
Grindrod Limited
(Incorporated in the Republic of South Africa)
(Registration number 1966/009846/06)
Share code: GND & GNDP
ISIN: ZAE000072328 & ZAE000071106
("Grindrod" or "the Company")
Shareholders are advised that the Company has entered into negotiations with a
potential strategic partner and provider of growth capital ("Potential
Strategic Partner") regarding a potential capital injection of up to R2
billion into Grindrod by way of a specific issue of new Grindrod ordinary
shares for cash ("the Proposed Strategic Investment").
Shareholders are advised that the proposed issue price of any new Grindrod
ordinary shares that would be issued in terms of the Proposed Strategic
Investment will not be less than the 30 trading day volume weighted average
price of Grindrod ordinary shares as at 19 August 2011. The Proposed Strategic
Partner has indicated an intention to offer Grindrod ordinary shareholders the
opportunity to acquire a pro-rata share of any new Grindrod ordinary shares
issued in terms of the Proposed Strategic Investment at the proposed issue
price immediately following implementation of the Proposed Strategic
Whether or not negotiations are successfully concluded, the Proposed Strategic
Investment may have a material effect on the price of the Company's
securities. Accordingly, shareholders are advised to exercise caution when
dealing in the Company's securities until a further announcement is made.
Grindrod Bank Limited
22 August 2011
Date: 22/08/2011 12:42:09 Produced by the JSE SENS Department.
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