| Mon 17 Sep 2007, 13:15 | | NED - Nedbank Group Limited - Results of the Capit |
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NED
NED
NED - Nedbank Group Limited - Results of the Capitalisation Award
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`)
RESULTS OF THE CAPITALISATION AWARD
The announcement of the Company`s interim results for the six months ended 30
June 2007 was released on the Securities Exchange News Service (`SENS`) on 6
August 2007, in which notice was given that an award of new fully paid Nedbank
Group ordinary shares (`the new shares`) would be made 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 would be entitled, in respect of all
or part of their shareholding, to elect to participate in the capitalisation
award, failing which they would receive the cash dividend alternative (310 cents
per ordinary share) to be paid to those shareholders not electing to participate
in the capitalisation award. The last day to trade to participate in the
capitalisation share award or the cash dividend alternative was Friday, 7
September 2007.
The number of the new shares to which shareholders wishing to participate in the
capitalisation award would become entitled was determined in the ratio that 310
cents per Nedbank Group ordinary share bears to R133,94, being the 30-day
volume-
weighted average traded price of Nedbank Group ordinary shares on the JSE
Limited at the close of business on Thursday, 30 August 2007.
This equated to 2,31447 new shares for every 100 Nedbank Group ordinary shares
held on the record date. Fractions of shares will not be issued.
Nedbank Group ordinary shareholders holding 73 833 466 Nedbank Group ordinary
shares elected to receive the capitalisation share award, resulting in the issue
of 1 708 877 new shares. Accordingly, a cash dividend of R1 186 671 682.70 was
paid in respect of 382 797 317 Nedbank Group ordinary shares.
Dividend cheques and share certificates in respect of the new shares were posted
to certificated shareholders at their risk and the Participant or broker custody
accounts of dematerialised shareholders were credited today.
Sandton
17 September 2007
Investment bank, corporate adviser and sponsor
Nedbank Capital
Independent lead sponsor
Merrill Lynch South Africa (Pty) Limited
Sponsoring broker in Namibia
Old Mutual Investment Services (Namibia) (Pty) Limited
Date: 17/09/2007 13:15:45 Produced by the JSE SENS Department.
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