SCIB:BVTSTC - Standard Bank - Capitalisation Issue Announcement In Relation To
JSE BVTSTC
SCIB
SCIB:BVTSTC - Standard Bank - Capitalisation Issue Announcement In Relation To
The Standard Bank Bidvest Group Ltd Turbo Share Instalment BVTSTC
The Standard Bank of South Africa Limited
Share Instalment Code: BVTSTC
ISIN Code: ZAE000114625
CAPITALISATION ISSUE ANNOUNCEMENT IN RELATION TO THE STANDARD BANK BIDVEST GROUP
LTD TURBO SHARE INSTALMENT BVTSTC
Following the BIDVEST GROUP LTD`s ("BVT") announcement of the capitalisation
issue, in terms of which shareholders are entitled to receive 1.0 new share per
100 shares held at close of business on the 20th March 2009, record date for
these positions being 27th March 2009, notice is hereby given that The Standard
Bank of South Africa Limited ("the Issuer") has elected in terms of the
Conditions Annexure to treat the capitalisation issue as a normal cash
distribution. The value of this distribution will be determined by the Issuer
in accordance with the following formula:
Cash distribution = 1% of the theoretical opening price of BIDVEST GROUP
LIMITED (BVT) on Monday 23rd March 2009
Where: the theoretical opening price of BVT will be calculated by the
Issuer as follows:
BVT Closing Price on Friday 20th March 2009 less dividend of 100
cents dividend by 1.01
The Value of this cash distribution has been calculated and holders of BVTSTC
will receive 90 cents for share instalment held.
In addition to the above and as previously announced on the 4th March 2009,
BVTSTC share instalment holders will also be entitled to receive a dividend of
100 cents.
The last day to trade to be entitled to receive the above cash distribution and
dividend is Friday 20th March 2009. Ex-Distribution date is Monday 23rd March
2009. Payment date Monday 30th March 2009.
This Notice together with the Common Terms Document, Conditions Annexure and the
relevant Supplements records the terms and conditions of the agreement between
the Parties. Any terms used in this Notice which are defined in the Common
Terms Document and Conditions Annexure shall bear the meaning ascribed to them
therein, unless specifically stated otherwise herein. Other than as set out
herein, the terms and conditions set out in the Common Terms Document,
Conditions Annexure and relevant Supplements remain unchanged and in full force
and effect.
Date: 23/03/2009 15:47:02 Produced by the JSE SENS Department.
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