| Fri 18 Jan 2008, 14:37 | | FCPD - Foord Compass Limited - Interest Payment And Election |
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JSE FCPD
FCPD
FCPD - Foord Compass Limited - 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")
INTEREST PAYMENT AND ELECTION
Notice is hereby given that a cash debenture interest payment (number 41) of
43.517 cents per debenture in respect of the six months ended 31 December 2007
is payable to debenture holders recorded in the debenture register of the
company on the record date. Debenture holders may, however, elect to receive
new fully paid debentures in lieu of a cash interest payment.
The last day to trade in the debentures for purposes of entitlement to the
interest payment will be Friday, 1 February 2008. The debentures will commence
trading ex the interest payment on Monday, 4 February 2008 and the record date
will be Friday, 8 February 2008. The interest will be payable on Monday, 11
February 2008. Debenture certificates may not be dematerialised or
rematerialised between Monday, 4 February 2008 and Friday, 8 February 2008, both
days inclusive.
IMPORTANT: ELECTION TO RECEIVE DEBENTURES IN LIEU OF A CASH INTEREST PAYMENT
As provided for in section 6.4 of the Debenture Trust Deed, the board has
resolved that debenture holders recorded in the debenture register at the close
of business on the record date may elect to receive new fully paid Foord Compass
Limited Variable Rate debentures in lieu of a cash interest payment ("the
interest debentures"). The motivation for this decision is to retain cash and
build capital for debenture holders. The tax implications of the settlement of
the debenture interest payment by the issue of interest debentures or by the
payment of cash should be the same. However, debenture holders are encouraged
to consult their professional advisors should they be in any doubt as to the
appropriate action to take.
Certificated debenture holders who wish to elect to receive interest debentures
in respect of all or a part of their debenture holding, must complete the Form
of Election (mailed under separate cover) in accordance with the instructions
therein and return such election form to the company`s transfer secretaries to
be received by no later than 12:00 on the record date, being Friday, 8 February
2008. Dematerialised debenture holders who wish to elect to receive interest
debentures 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 election to receive interest debentures is not made by dematerialised
debenture holders by the cut-off time stipulated by their CSDP or broker, or by
12:00 on Friday, 8 February 2008 in the case of certificated debenture holders,
debenture holders will be deemed to have elected to receive a cash interest
payment. As indicated above, the last day to trade in the company`s debentures
on the JSE to ensure that a purchaser appears as an owner on the record date
will be Friday, 1 February 2008. The number of interest debentures to be issued
("the ratio") will be determined with reference to the weighted average traded
price of the debentures on the JSE for the five trading days ending at the close
of business on Thursday, 24 January 2008, less the interest distribution of
43.517 cents. Debenture holders will be notified of the ratio on the
finalisation date, being Friday, 25 January 2008. 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.
Subject to JSE approval of the interest debenture election, application will be
made to the JSE Limited for a listing of the maximum number of interest
debentures to be issued with effect from the commencement of business on Monday,
4 February 2008. An adjustment to the number of interest debentures listed will
be made on or about Tuesday, 12 February 2008 in accordance with the actual
number of interest debentures issued having regard to the elections made.
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, 11 February 2008.
Cape Town
18 January 2008
Sponsor: Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 18/01/2008 14:37:01 Produced by the JSE SENS Department.
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