| Thu 26 Mar 2009, 11:24 | | SFN - Sasfin Holdings Limited - The Cash And Scrip Dividend Alternative |
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SFN
SFN
SFN - Sasfin Holdings Limited - The Cash And Scrip Dividend Alternative
Sasfin Holdings Limited
Ordinary share code: SFN
ISIN: ZAE000006565
("Sasfin" or "the company")
THE CASH AND SCRIP DIVIDEND ALTERNATIVE
Shareholders are referred to the announcement of the company`s interim results
for the 6 months ended 31 December 2008 released on SENS on Thursday, 5 March
2009, wherein they were advised that the directors of the company had resolved
to award an interim cash dividend of 71 cents per Sasfin ordinary share to
Sasfin ordinary shareholders recorded as such in the company`s registers on the
record date, Thursday, 9 April 2009, but subject to shareholders having the
right to elect to receive instead, in respect of all or part of their dividend,
scrip dividend shares. The last day to trade to participate in the cash and
scrip dividend alternative will be Thursday, 2 April 2009.
The number of scrip dividend shares to which shareholders will become entitled
in terms of their election will be determined in the ratio that 71 cents per
ordinary share bears to R24.60, being the 3-day volume weighted average traded
price of the Company`s ordinary shares on the JSE Limited ("JSE") at the close
of business on Wednesday, 25 March 2009 ("VWAP"), the formula being:
Scrip dividend share entitlement = (number of shares held on the record date x
71 cents) / (VWAP of R24.60)
This equates to 2.89 new Sasfin ordinary shares for every 100 Sasfin ordinary
shares held. Shareholders wishing to participate in the scrip dividend
alternative in respect of all or part of their shareholding must elect to do so.
Subject to the approval of the JSE, a listing of the maximum number of new
shares to be issued pursuant to the scrip dividend alternative will commence on
Friday, 3 April 2009.
Sasfin ordinary shares will trade "ex" cash and scrip dividend alternative with
effect from the commencement of business on Friday, 3 April 2009
Shares may not be dematerialised or rematerialised between Friday, 3 April 2009,
and Thursday, 9 April 2009,both days inclusive.
A circular (including a form of election dealing with the scrip dividend
alternative) was posted to shareholders on Friday, 20 March 2009.
Forms of election in respect of shareholders who have not yet dematerialised
their shares ("certificated shareholders") and who wish to elect to participate
in the scrip dividend alternative must be received by the transfer secretaries,
Computershare Investor Services (Proprietary) Limited, 70 Marshall Street,
Johannesburg, 2001 (PO Box 61763, Marshalltown, 2107), by no later than 12:00 on
Thursday, 9 April 2009.
Shareholders who have dematerialised their shares ("dematerialised
shareholders") are required to notify their duly appointed Central Securities
Depository Participant ("CSDP") or broker of their election in the manner and
time stipulated in the custody agreement governing the relationship between the
shareholders and their CSDP or broker. In respect of dematerialised
shareholders, their accounts with the CSDP or broker will be updated with their
entitlement in respect of the new ordinary shares and/or payments will be
credited to their CSDP or broker accounts on Tuesday, 14 April 2009.
Certificated shares and cheques will be posted by registered post and ordinary
post respectively to certificated shareholders at their risk on or about
Tuesday,14 April 2009. A further announcement will be published on SENS and in
the press on or about Tuesday, 14 April 2009, detailing the results of the cash
dividend and the scrip dividend alternative.
Sandton
26 March 2009
Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 26/03/2009 11:24:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
