| Fri 31 Aug 2007, 10:50 | | NED - Nedbank Group - Capitalisation award with a |
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NED
NED
NED - Nedbank Group - Capitalisation award with a cash dividend to be paid
to shareholders not electing to receive capitalisation award shares
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`)
CAPITALISATION AWARD WITH A CASH DIVIDEND TO BE PAID TO SHAREHOLDERS NOT
ELECTING TO RECEIVE CAPITALISATION AWARD SHARES
Further to the announcement of the Company`s interim results for the six
months ended 30 June 2007 released on the Securities Exchange News Service
(`SENS`) on 6 August 2007, notice is hereby given that an award of new
fully paid ordinary shares (`the new shares`) will be distributed to
shareholders recorded in the register of the Company at the close of
business on Friday, 14 September 2007 (`the record date`). In terms of the
announcement, shareholders will be entitled, in respect of all or part of
their shareholding, to elect to participate in the capitalisation award
failing which they will receive the cash dividend alternative (310 cents
per ordinary share that will be paid to those shareholders not electing to
participate in the capitalisation award). The last day to trade to
participate in the capitalisation award or the cash dividend alternative
will be Friday, 7 September 2007.
The number of shares to which shareholders wishing to participate in the
capitalisation award will become entitled will be determined in the ratio
that 310 cents per ordinary share bears to R133.94, being the 30-day volume-
weighted average traded price of Nedbank Group ordinary shares on the JSE
Limited (`JSE`) as at the close of business on Thursday, 30 August 2007
(`VWAP`), the formula being:
Capitalisation share entitlement = (number of shares held on the record
date x 310 cents) / (VWAP of R133.94)
This equates to 2.31447 new Nedbank Group ordinary shares for every 100
Nedbank Group ordinary shares held. Shareholders wishing to participate in
the capitalisation award in respect of all or part of their shareholding
must elect to do so. Subject to the approval of the JSE, a listing of the
maximum number of new shares to be issued pursuant to the capitalisation
award will commence on Monday, 10 September 2007. Nedbank Group shares will
trade `ex` the entitlement with effect from the commencement of business on
Monday, 10 September 2007. Shares may not be dematerialised or
rematerialised between Monday, 10 September 2007 and Friday, 14 September
2007, both days inclusive. A circular (including a form of election)
dealing with the capitalisation award was posted to shareholders on
Wednesday, 22 August 2007.
Forms of election in respect of shareholders who have not yet
dematerialised their shares (`certificated shareholders`) and who wish to
elect to participate in the capitalisation award must be received by the
transfer secretaries in South Africa, Computershare Investor Services 2004
(Proprietary) Limited, 70 Marshall Street, Johannesburg, 2001 (PO Box
61763, Marshalltown, 2107) or the transfer secretaries in Namibia, Transfer
Secretaries (Proprietary) Limited, Shop 8, Kaiserkrone Centre, Post Street
Mall, Windhoek, Namibia (PO Box 2401, Windhoek, Namibia) by no later than
12h00 on Friday, 14 September 2007.
Shareholders who have dematerialised their shares are required to notify
their duly appointed Participant (previously referred to as Central
Securities Depository Participant) or broker of their election in the
manner and time stipulated in the custody agreement governing the
relationship between the shareholder and their Participant or broker. In
respect of dematerialised shareholders, safe custody accounts with the
Participant or broker will be updated with the entitlement in respect of
the new ordinary shares and /or payments will be credited to their
Participant or broker accounts on Monday, 17 September 2007.
Certificated shares and cheques will be posted by registered post and
ordinary post respectively to certificated shareholders at their risk on or
about Monday, 17 September 2007. A further announcement will be published
on SENS and in the press on or about Monday, 17 September 2007, detailing
the results of the capitalisation award and the cash dividend alternative.
Johannesburg
31 August 2007
Investment bank, corporate adviser and sponsor
Nedbank Capital
Independent lead sponsor
Merrill Lynch South Africa (Pty) Limited
Sponsoring broker in Namibia
Old Mutual
Date: 31/08/2007 10:50:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
