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ISA
ISA
ISA - ISA Holdings Limited - Results of the AGM, capital distribution and
ordinary dividend Distribution
ISA Holdings Limited
("ISA")
Incorporated in the Republic of South Africa
(Registration number: 1998/009608/06)
JSE share code: ISA
ISIN code: ZAE000067344
RESULTS OF THE ANNUAL GENERAL MEETING, CAPITAL DISTRIBUTION AND ORDINARY
DIVIDEND DISTRIBUTION
Results of the Annual General Meeting
Shareholders are advised that, at the Annual General Meeting of ISA Holdings
Limited held today, all the resolutions presented in The Notice of Annual
General Meeting were passed by the requisite majority of shareholders.
The special resolutions will be submitted to the Registrar of Companies for
registration.
Capital distribution and ordinary dividend distribution
Shareholders are further advised that, a capital distribution to shareholders,
to be paid out of share premium, of 3.9 cents per share will be made.
The table below sets out the pro forma financial effects of the distribution out
of share premium on ISA`s annual financial results for the year ended 28
February 2007. The pro forma financial effects is the responsibility of the
directors and has been prepared for illustrative purposes only. Because of their
nature, the pro forma financial information may not give a true reflection of
ISA`s financial position or results.
Per ISA ordinary share Before the After the Percentage
distribution distribution change
Net asset value (cents) 21.8 17.9 (17.9%)
Net tangible asset value (cents) 18.5 14.6 (21.1%)
Headline earnings per share (cents) 5.9 5.7_ (3.3%)
Earnings per share (cents) 6.2 5.9_ (4.8%)
Shares in issue at year end (000`s) 192,593 192,593
Weighted average shares in issue
upon which earnings and headline
earnings per share are based (000`s) 171,728 171,728
Notes:
*= Based on published consolidated audited results for the year ended 28
February 2007.
= Based on the assumption that the distribution out of share premium was
effected on 28 February 2007.
_= Based on the assumption that the distribution out of share premium was
effected on 1 March 2006 and that cash resources are assumed to earn an after
tax interest return of 6.2%.
The salient dates for the distribution of the ordinary dividend of 1.1 cents per
share and the capital distribution to be paid out of share premium of 3.9 cents
per share are set out below:
Last day to trade "cum" the distributions: Friday, 6 July 2007
Date trading commences "ex" the distributions: Monday, 9 July 2007
Record date: Friday, 13 July 2007
Date of payment: Monday, 16 July 2007
Shareholders may not dematerialise or rematerialise their shares between Monday
9 July 2007 and Friday 13 July 2007, both days inclusive.
In terms of the requirements of the Companies Act No. 61 of 1973, the directors
confirm that, after the cash capital and dividend distributions, ISA Holdings
Limited will be able to pay its debts as they become due in the ordinary course
of business, and that its consolidated assets, fairly valued, will exceed its
consolidated liabilities.
Randburg
29 June 2007
Designated advisor: Exchange Sponsors (Pty) Ltd
Date: 29/06/2007 10:55:01 Produced by the JSE SENS Department.
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