| Mon 10 Mar 2008, 17:16 | | ILA - Iliad Africa Limited - Capital payment out o |
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ILA
ILA
ILA - Iliad Africa Limited - Capital payment out of stated capital ("The
Distribution")
Iliad Africa Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/011938/06)
Share code: ILA ISIN: ZAE000015038
("Iliad")
CAPITAL PAYMENT OUT OF STATED CAPITAL ("THE DISTRIBUTION")
In accordance with the authority granted to the directors of the company in
terms of article 8.10 of the Articles of Association and the resolution passed
at the annual general meeting of the company held on Thursday, 24 May 2007, a
distribution of 52 cents out of the stated capital (2006: distribution of 40
cents per share) in respect of the year ended 31 December 2007 has been declared
and is payable to shareholders recorded in the share register of the company on
Friday, 4 April 2008.
Set out in the table below are the pro forma financial effects of the
distribution based on Iliad`s audited results for the year ended
31 December 2007. The pro forma financial effects have been prepared for
illustrative purposes only to provide information on how the distribution may
have impacted on the results and financial position of Iliad. Because of their
nature, the pro forma financial effects may not give a fair reflection of
Iliad`s financial position after the distribution or the effect on future
earnings. The pro forma financial effects are the responsibility of Iliad`s
directors.
Before After Percentage
the the change
distribution distribution %
Headline earnings per
share (cents) 168.4 164.3 (2.4)
Earnings per share 169.0 164.8 (2.5)
(cents)
Weighted average number 146 433 408 146 433 408
of shares
Net asset value per 639.3 587.3 (8.1)
share (cents)
Net tangible asset
value per share (cents) 319.5 267.5 (16.3)
Number of shares in 146 433 408 146 433 408
issue
Note:
1. The figures in the "Before the distribution" column have been extracted from
the published audited results of Iliad for the year ended 31 December 2007.
2. Earnings and headline earnings per share in the "After the distribution"
column have been based on the following assumptions:
The distribution was made on 1 January 2007, and
Interest, at an after-tax rate of 8% per annum, was forfeited on the cash
distributed.
3. Net asset value and net tangible asset value per share in the "After the
distribution" column have been based on the assumption that the distribution was
made on 31 December 2007.
Set out below are the salient dates applicable to the distribution:
Last date to trade "cum distribution" Friday, 28 March 2008
Trading commences "ex-distribution" Monday, 31 March 2008
Record date Friday, 4 April 2008
Payment date Monday, 7 April 2008
Share certificates may not be dematerialised or rematerialised between Monday,
31 March 2008 and Friday, 4 April 2008, both dates inclusive
10 March 2008
Johannesburg
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 10/03/2008 17:16:07 Produced by the JSE SENS Department.
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