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| Applications and Completion of Application Form |
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- Applications may only be made on the application form enclosed
with this proposal. Photocopies or other reproductions will be
rejected.
- Applications are irrevocable and may not be withdrawn once
received by the company secretaries.
- Application forms must be completed in accordance with the
provisions of this proposal and the instructions set out in the
application forms.
- Applications must be for a minimum of 1 ordinary share and in
multiples of 1 ordinary share thereafter.
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| Payment may only be made by cheque
or banker's draft. Postal orders, cash or telegraphic transfers will
also be accepted. The cheque or banker's draft must be attached to and
submitted with the relevant application form. Cheques must be crossed
"not negotiable" and made payable in favour of "Tortilis Africa
Investments". |
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| Application forms must be lodged with: |
Or
may be posted, at the risk of the person, concerned to: |
Tortilis Africa Investments
1st Floor, Unit B
Three Seasons Office Park
7 Spring Street, Rivonia |
Tortilis Africa Investments
PO Box 2993
Rivonia
Sandton, 2128 |
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Neither the company nor any of its
advisers accept responsibility for
application forms not lodged or
posted as set out above. |
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Each envelope should contain one application form and must be clearly
marked "Tortilis Africa Investments".
No receipts will be issued for applications and remittances and
applications will only be regarded as complete when the relevant
cheque / banker's draft has been paid. All cheques/banker's drafts will be
deposited with the company secretaries immediately upon receipt by the
company secretaries. Should any cheque or banker's draft be dishonoured,
the directors of Tortilis Africa Investments may, in their absolute
discretion, regard the relevant application as revoked or take such
other steps in regard thereto as they may deem fit.
Each application will be regarded as a single |
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application except one
received from a nominee company. Nominee company applications must state
the number of principals covered by the application in the appropriate
block on the reverse side of the relevant application form and must be
completed in the manner prescribed therein.
Ordinary shares may not be applied for in the name of an unassisted
minor or a deceased estate. No documentary evidence of capacity to apply
need accompany the application form, but Tortilis Africa Investments and
the company secretaries reserve the right to call upon any applicant to
submit such evidence for noting, which evidence will be returned at the
applicant's risk. |
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| Investment: South African Exchange
Control |
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| The following summary is intended
as a guide and is therefore not comprehensive. If you are in any doubt
hereto, please consult your professional adviser. |
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| Exchange Control
Regulations of South Africa |
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| A former resident of the common
monetary area who has emigrated from South Africa may use Blocked Rand
to purchase ordinary shares in terms of this prospectus. |
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| All payments in respect of
subscriptions for ordinary shares by non-residents using Blocked Rand
must be made through an authorised dealer in foreign exchange. |
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| Share certificates issued in respect of ordinary shares purchased with
Blocked Rand in terms of this prospectus will be endorsed “non-resident”
in accordance with the Exchange Control Regulations of South Africa.
Share certificates will be placed under the control of the authorised
dealer through whom the payment was made. |
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| Applicants resident outside
the Common Monetary Area |
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A person who is not resident in the
common monetary area should obtain advice as to whether any governmental
and/or other legal consent is required and/or whether any other
formality must be observed to enable a subscription to be made in terms
of the offer.
This proposal is not an offer in
any area or jurisdiction in which it is illegal to make such an offer.
In such circumstances, this prospectus and the application form is sent
for information purposes only. |
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may
freely invest in and divest from South Africa without restriction. All income is freely remittable abroad. It is, however, a
requirement of the Exchange Control that share certificates representing
shares held by a non-resident in a South African company be endorsed by
one of the South African authorised dealers in foreign exchange with the
words “non-resident” for as long as such shares are held by non-resident
investors. If the South African subsidiaries are to be capitalised with
debt instruments, Exchange Control approval of the interest/coupon rates
(linked to the currency denomination of the instrument) and the
repayment terms will be required. Any foreign borrowings by such
subsidiaries will also require Exchange Control approval and the
restrictions on local borrowings will be applicable. |
| Non-residents are exempt from the majority of
the provisions of the South African Exchange Control Regulations -
although South African subsidiaries and branches of foreign companies
are treated as residents for exchange control purposes. Consequently, as
a general rule, non-residents |
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