| Tue 14 Oct 2008, 14:32 | | LBH - Libhold - Declaration Of Ordinary Dividend Number 79 |
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LBH
LBH
LBH - Libhold - Declaration Of Ordinary Dividend Number 79
Liberty Holdings Limited
(Registration number 1968/002095/06)
(Incorporated in the Republic of South Africa)
JSE share code: LBH
ISIN: ZAE000004032
("Libhold")
DECLARATION OF ORDINARY DIVIDEND NUMBER 79
1. INTRODUCTION
Libhold shareholders are referred to the announcement dated 26 September 2008
and the circular posted to Libhold shareholders on 26 September 2008
which set out details in respect of the proposed restructuring of the Liberty
group including the transaction mechanics to provide for the economic
equivalence of ordinary shares in Liberty Group Limited ("Liberty") and Libhold.
2. CALCULATION OF CASH AVAILABLE FOR DISTRIBUTION
As explained in the announcement and circular referred to above, the number of
issued Libhold ordinary shares (following the proposed sub-division of Libhold`s
ordinary shares) will exceed the number of Liberty shares owned by Libhold by 2
116 096 shares ("shortfall"). In order to compensate for the shortfall, Libhold
will retain cash from its existing cash resources.
The amount to be retained has been determined by multiplying the shortfall by
the volume weighted average price at which Liberty shares traded on the JSE
Limited ("JSE") during the five trading days preceding Tuesday, 14 October 2008,
which was 6 698 cents per share ("the Liberty VWAP"). The Liberty VWAP
multiplied by the shortfall yields a cash sum to be retained of R142 million.
Consequently, Libhold has available for distribution a total sum of R31 million,
which allows for a dividend of 63 cents per share.
3. DIVIDEND DECLARATION
The directors of Libhold have accordingly declared a cash dividend number 79 of
63 cents per ordinary share.
The important dates pertaining to the dividend are as follows:
Last day to trade cum dividend on the JSE Friday, 31 October 2008
First trading day ex dividend on the JSE Monday, 3 November 2008
Record date Friday, 7 November 2008
Payment date Monday, 10 November 2008
Note:
Libhold shareholders may not dematerialise or rematerialise their Libhold shares
between Monday, 3 November 2008 and Friday, 7 November 2008, both days
inclusive. Where applicable, dividends in respect of certificated shareholders
will be transferred electronically to shareholders` bank accounts on payment
date. In the absence of mandates, dividend cheques will be posted to
shareholders. Shareholders who have dematerialised their shares will have
accounts with their CSDP or broker credited on Monday, 10 November 2008.
Johannesburg
14 October 2008
Legal advisers to Libhold
Werksmans Inc.
Independent sponsor to Libhold
Merrill Lynch South Africa (Proprietary) Limited
Date: 14/10/2008 14:32:01 Produced by the JSE SENS Department.
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