| Fri 25 Jan 2008, 13:44 | | FCPD - Foord Compass Limited - Finalisation Announcement Relating To |
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JSE FCPD
FCPD
FCPD - Foord Compass Limited - 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 preliminary results for the year
ended 31 December 2007 released on SENS on 18 January 2008 and
published in the press on 21 January 2008 as well as the notice
released on SENS on 18 January 2008.
These announcements contained a notice relating to a debenture interest
payment of 43.517 cents per debenture in respect of the six months
ended 31 December 2007 payable to debenture holders recorded in the
debenture register on Friday, 8 February 2008 ("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 cash. Debenture holders may, however, elect to
receive new fully paid Foord Compass Limited Variable Rate debentures
("the interest debentures") in lieu of a cash interest payment ("the
debenture 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, 24 January 2008. This weighted average traded
price being 787.288 cents, less the interest distribution of 43.517
cents, results in an issue price of 743.771 cents per debenture and a
ratio of 5.851 interest debentures for each 100 debentures held on the
record date.
Certificated debenture holders who wish to elect to receive new fully
paid interest debentures in lieu of a 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 wish to elect to receive new fully paid interest
debentures in lieu of a 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 debenture 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, 8 February 2008 in the case of certificated debenture
holders, debenture holders will be deemed to have elected to receive
cash. 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, 1 February 2008. The debentures
will commence trading ex the interest payment on Monday, 4 February
2008. 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. Debenture
certificates may not be dematerialised or rematerialised between
Monday, 4 February 2008 and Friday, 8 February 2008, both days
inclusive.
Cape Town
25 January 2008
Sponsor: Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 25/01/2008 13:44:01 Produced by the JSE SENS Department.
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