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SVB
SVB
SVB - SilverBridge Holdings Limited - Capital distribution
SilverBridge Holdings Limited
(formerly Synergy Holdings Limited)
(Incorporated in the Republic of South Africa)
Registration number 1995/006315/06
Share code: SVB & ISIN: ZAE000086229
("SilverBridge" or "the Company")
CAPITAL DISTRIBUTION
Shareholders are advised that, as a result of the approval of the special
resolution to make general payments to shareholders at the AGM held on
Monday, 28 May 2007, the Board has resolved to make a distribution to
ordinary shareholders from the Company`s share premium account amounting to
12.5 cents per ordinary share ("the capital distribution").
The following salient dates will be applicable:
Last date to trade "cum" the capital Friday, 22 June 2007
distribution
Trading commences "ex" the capital Monday, 25 June 2007
distribution
Record date Friday, 29 June 2007
Date of payment Monday, 2 July 2007
Share certificates may not be dematerialised or rematerialised between
Monday, 25 June 2007 and Friday, 29 June 2007, both dates inclusive.
Financial effects
The table below illustrates the effect of the capital distribution on the
earnings and net asset value per ordinary share and is based on the audited
results of the company for the year ended 28 February 2007. These financial
effects are prepared for illustrative purposes only, are the responsibility
of the Board of Silverbridge, and because of their nature, may not fairly
present the Company`s financial position and results of operations.
Before After Change
(cents) (cents) (%)
Earnings per share (cents) 30.36 29.72 -2.1%
Headline earnings per share 30.55 29.91 -2.1%
(cents)
Net asset value per share 83.92 71.35 -15.0%
(cents)
Net tangible asset value per 49.59 37.02 -25.4%
share (cents)
Notes to the financial effects:
* For earnings and headline earnings purposes, it is assumed that the
capital distribution had been paid to shareholders on 1 March 2006;
* Based on a reduction of R 4 098 000 and an after tax interest rate
earned on cash resources of 4.2%; and
* The net asset value and net tangible asset value were calculated on
the assumption that the capital distribution was effected on 28
February 2007.
By the order of the Board
Centurion
7 June 2007
DESIGNATED ADVISOR
SASFIN CAPITAL
A DIVISION OF SASFIN BANK LIMITED
Date: 08/06/2007 08:33:12 Produced by the JSE SENS Department.
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