NED - Nedbank Group Limited - Results of the Capit
NED
NED
NED - Nedbank Group Limited - Results of the Capitalisation Award
Nedbank Group Limited
(Incorporated in the Republic of South Africa)
Registration number 1966/010630/06
Share Code JSE: NED & Share Code NSX: NBK
ISIN Code: ZAE000004875
(`Nedbank Group` or `the company`)
RESULTS OF THE CAPITALISATION AWARD
The announcement of the company`s annual results for the year ended 31
December 2006 was released on the Securities Exchange News Service (`SENS`)
on 22 February 2007, in which notice was given that an award of new fully
paid Nedbank Group ordinary shares (`the new shares`) would be made to
shareholders recorded in the register of the company at the close of
business on Thursday, 5 April 2007 (`the record date`).
In terms of the announcement shareholders would be entitled, in respect of
all or part of their shareholding, to elect to participate in the
capitalisation award, failing which they would receive the cash dividend
alternative (284 cents per ordinary share) to be paid to those shareholders
not electing to participate in the capitalisation award. The last day to
trade to participate in the capitalisation share award or the cash dividend
alternative was Thursday, 29 March 2007.
The number of the new shares to which shareholders wishing to participate
in the capitalisation award would become entitled was determined in the
ratio that 284 cents per Nedbank Group ordinary share bears to R135,10,
being the 30-day volume-weighted average traded price of Nedbank Group
ordinary shares on the JSE Limited at the close of business on Tuesday, 20
March 2007.
This equated to 2,10215 new shares for every 100 Nedbank Group ordinary
shares held on the record date. Fractions of shares will not be issued.
Nedbank Group ordinary shareholders holding 148 474 080 Nedbank Group
ordinary shares elected to receive the capitalisation share award,
resulting in the issue of 3 121 149 new shares. Accordingly, a cash
dividend of R861 260 609,52 was paid in respect of 303 260 778 Nedbank
Group ordinary shares.
Dividend cheques and share certificates in respect of the new shares were
posted to certificated shareholders at their risk and the Central
Securities Depository Participant or broker custody accounts of
dematerialised shareholders were credited today.
Sandton
10 April 2007
Investment bank, corporate adviser and sponsor
Nedbank Capital
Independent lead sponsor
Merrill Lynch
Sponsoring broker in Namibia
Old Mutual
Date: 10/04/2007 13:18:01 Produced by the JSE SENS Department.
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