| Wed 16 Jul 2008, 17:05 | | SVB - Silverbridge - Capital reduction from the share premium account |
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SVB
SVB
SVB - Silverbridge - Capital reduction from the share premium account
SilverBridge Holdings Limited
(formerly Synergy Holdings Limited)
(Incorporated in the Republic of South Africa)
Registration number 1995/006315/06
Share code: SVB & ISIN: ZAE000086229
("SilverBridge" or "the Company")
CAPITAL REDUCTION FROM THE SHARE PREMIUM ACCOUNT
Shareholders are advised that, as a result of the approval of the special
resolution to make general payments to shareholders at the AGM held on 4 July
2008, the Board has resolved to make a capital reduction distribution to
ordinary shareholders from the Company`s share premium account amounting to
14.60 cents per ordinary share ("the capital distribution").
The following salient dates will be applicable:
Last date to trade "cum" the Friday, 1 August 2008
capital distribution
Trading commences "ex" the Monday, 4 August 2008
capital distribution
Record date Friday, 8 August 2008
Date of payment Monday, 11 August 2008
Share certificates may not be dematerialised or rematerialised between Monday, 4
August 2008 and Friday, 8 August 2008, both dates inclusive.
Financial effects
The table below illustrates the effect of the capital distribution on the
earnings and net asset value per SilverBridge ordinary share and is based on the
audited results for the year ended 29 February 2008. These financial effects are
prepared for illustrative purposes only, are the responsibility of the Board,
and because of their nature, may not fairly present the Company`s financial
position and results of operations.
Before After Change
(cents) (cents) (%)
Earnings per share (cents) 30.18 28.37 (6.0)
Headline earnings per share 30.26 28.45 (6.0)
(cents)
Net asset value per share 101.47 86.38 (14.9)
(cents)
Net tangible asset value per 65.71 50.62 (23.0)
share (cents)
Notes to the financial effects:
For earning and headline earnings per share purposes, it is assumed that the
capital distribution had been paid to shareholders on 1 March 2007; and based on
a reduction of R 4 903 500 and an after tax interest rate earned on cash
resources of 12%. The net asset value and net tangible asset value per share
figures are based on the assumption that the capital distribution happened on 29
February 2008.
By the order of the Board
Centurion
16 July 2008
DESIGNATED ADVISOR
SASFIN CAPITAL
A DIVISION OF SASFIN BANK LIMITED
Date: 16/07/2008 17:05:01 Produced by the JSE SENS Department.
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