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BAW BAWP
BAW
BAW - Barloworld Limited - Declaration of Barloworld interim distribution
Barloworld Limited
(Incorporated in the Republic of South Africa)
(Registration number 1918/000095/06)
(Share code: BAW)
(ISIN: ZAE000026639)
(Share code: BAWP)
(ISIN: ZAE000026647)
("Barloworld" or "the Company")
DECLARATION OF BARLOWORLD INTERIM DISTRIBUTION
Barloworld shareholders are referred to the unbundling circular dated 17 May
2007. At a shareholder meeting held today, 8 June 2007, the necessary resolution
required to effect a payment out of share premium was passed. Pursuant thereto,
the Barloworld directors have decided to make a distribution to Barloworld
ordinary shareholders of 175 cents per ordinary share held by them, comprising
111 cents out of share premium and a dividend of 64 cents out of distributable
reserves.
In compliance with the requirements of Strate, the electronic settlement and
custody system used by the JSE Limited, the Company has determined the following
salient dates for the payment of the distribution:
Last day to trade cum distribution Friday, 22 June 2007
Shares commence trading ex distribution Monday, 25 June 2007
Record date Friday, 29 June 2007
Payment date Monday, 2 July 2007
Barloworld ordinary shareholders will not be permitted to
dematerialise/rematerialise their shares between Monday, 25 June 2007 and
Friday, 29 June 2007, both days inclusive.
Set out in the table below are the pro forma financial effects of the
distribution on the Company`s earnings per share ("EPS"), headline earnings per
share("HEPS"), net asset value per share("NAV") and tangible net asset value per
share("TNAV") , based on the interim results for the six months ended 31 March
2007, had the distribution been made as at 1 October 2006 for income statement
purposes or on 31 March 2007 for balance sheet purposes.
The pro forma financial effects have been prepared for illustrative purposes
only and, because of their nature, may not give a true reflection of the
Company`s financial position, changes in equity, results of operations or cash
flows. The pro forma financial effects are the responsibility of the Company`s
directors.
Results as Results Percentage
published adjusted for change
the impact of
the payment
from share
premium
(cents) (cents) (%)
EPS 389.7 385.9 -1.0%
HEPS 466.5 462.7 -0.8%
NAV 6193.6 6082.6 -1.8%
TNAV 4802.9 4691.9 -2.3%
Note:
Adjustments to EPS and HEPS assume an interest rate of 9.5% and a tax rate of
29% on interest foregone.
The adjustment to NAV per share and TNAV per share takes into account the impact
of the distribution out of share premium and the financing effect thereof.
On behalf of the Board
S Mngomezulu
Secretary
8 June 2007
SANDTON
Financial advisor and Sponsor: JPMorgan
Date: 08/06/2007 16:01:01 Produced by the JSE SENS Department.
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