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JSE FCPD
FCPD
FCPD - Compass - Finalisation announcement relating to the debenture interest
payment and election
FOORD COMPASS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/003591/06)
JSE code: FCPD - ISIN: ZAE000054466
("Compass" or "the company")
FINALISATION ANNOUNCEMENT RELATING TO THE DEBENTURE INTEREST PAYMENT AND
ELECTION
Debenture holders are referred to the interim report for the six months ended 30
June 2007 released on SENS and published in the press on 11 July 2007.
This report contained a notice relating to a debenture interest payment of 36
cents per debenture in respect of the six months ended 30 June 2007 payable to
debenture holders recorded in the debenture register on Friday, 3 August 2007
("the record date"). As provided for in section 6.4 of the Debenture Trust
Deed, the board of directors ("the board") resolved that the debenture interest
payment would be settled by the issue of debentures ("the interest debentures").
Debenture holders may, however, elect to receive a cash interest payment instead
of the interest debentures ("the cash election").
Ratio of debentures to be issued
The ratio of interest debentures to be issued has been determined with reference
to the weighted average traded price of the debentures on the JSE Limited
("JSE") for the five trading days ended at the close of business on Thursday, 19
July 2007. This weighted average traded price of 905.62 cents, less the
interest distribution of 36 cents, results in an issue price of 869.62 cents per
debenture and a ratio of 4.140 interest debentures for each 100 debentures held
on the record date.
Certificated debenture holders who elect to receive the cash interest payment in
respect of all or a part of their debenture holding, must complete a Form of
Election (mailed previously) in accordance with the instructions therein and
return such election form to the company`s transfer secretaries, Computershare
Investor Services 2004 (Pty) Limited, to be received by no later than 12:00 on
the record date. Dematerialised debenture holders who elect to receive the cash
interest payment in respect of all or a part of their debenture holding must, in
terms of the agreement between themselves and their Central Securities
Depository Participant ("CSDP") or broker, instruct their CSDP or broker
accordingly.
If the cash election is not made by dematerialised debenture holders by the cut-
off time stipulated by their CSDP or broker, or by 12:00 on Friday, 3 August
2007 in the case of certificated debenture holders, debenture holders will be
deemed to have elected to receive new fully paid Compass debentures at the issue
price of 869.62 cents. Only rounded numbers of interest debentures will be
issued based on conventional rounding principles. No fractions will be paid.
The right to receive interest debentures may not be traded on the JSE.
The last day to trade in the debentures for purposes of entitlement to the
interest payment will be Friday, 27 July 2007. The debentures will commence
trading ex the interest payment on Monday, 30 July 2007. Cheques and/or new
debenture certificates will be posted by registered post to certificated
debenture holders and the safe custody accounts updated and/or credited by CSDPs
or brokers of dematerialised debenture holders on or about Monday, 6 August
2007. Debenture certificates may not be dematerialised or rematerialised
between Monday, 30 August 2007 and Friday, 3 August 2007, both days inclusive.
Cape Town
20 July 2007
Sponsor: Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 20/07/2007 12:24:01 Produced by the JSE SENS Department.
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