| Tue 31 Mar 2009, 11:58 | | TLM - Telemasters - Declaration Of Capital Distribution |
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TLM
TLM
TLM - Telemasters - Declaration Of Capital Distribution
TELEMASTERS HOLDINGS LIMITED
(Registration Number: 2006/015734/06)
JSE Code: TLM & ISIN: ZAE000093324
("Telemasters" or "the Company")
DECLARATION OF CAPITAL DISTRIBUTION
In lieu of a second quarter dividend, the board of directors has resolved,
subject to ratification by shareholders of a special resolution providing the
directors with a general authority to make payments to shareholders out of
share capital, which resolution will be proposed at the annual general meeting
of the Company to be held on 1 April 2009, to declare an interim capital
distribution out of share premium of 4 cents per share, payable on Monday, 4
May 2009, to shareholders recorded in the register of the Company as at
Thursday, 30 April 2009. Shareholders attention is drawn to the fact that any
general payments in terms of this authority may not exceed 20% of the
Company`s issued shared capital including reserves but excluding minority
interests in any one financial year, measured at the beginning of the
financial year.
The table below illustrates the pro forma financial effects of the capital
distribution on the interim results of Telemasters for the three months ended
31 December 2008, the pro forma earnings figures illustrating the possible
financial effects if the capital distribution had been made on 1 October 2008
and the pro forma net asset values figures illustrating the possible financial
effects if the capital distribution had been made on 31 December 2008.
Before the After the Percentage
capital capital change
distribution distribution
Earnings per share 7.56 7.56 No change
(cents)
Headline earnings per 7.56 7.56 No change
share (cents)
Net asset value per share 52.25 48.25 (7.65%)
(cents)
Net tangible asset value 27.42 23.42 (14.59%)
per share (cents)
Notes:
1. The "Before the capital distribution" column has been extracted from the
published unaudited quarterly results for the three months ended 31
December 2008.
2. The "After the capital distribution" column shows the effect of the
capital distribution on the published unaudited quarterly results for the
three months ended 31 December 2008.
The pro forma financial effects, which are the responsibility of the
directors, have been prepared for illustrative purposes only and, due to
their nature, may not fairly present Telemasters` financial position, changes
in equity, results of operations or cash flows.
Shareholders are advised that the payment of the capital distribution is
subject to the Company`s sponsor providing the JSE Limited with the necessary
report on the adequacy of the working capital of the Company and its
subsidiaries in terms of the JSE Listings Requirements prior to the payment
being effected.
Shareholders attention is drawn to the following important dates:
Last day to trade "cum" the cash Tuesday, 21 April 2009
distribution ("LDT"):
Date trading commences "ex" the cash Thursday, 23 April 2009
distribution
Record date for payment of the cash Thursday, 30 April 2009
distribution:
Date of payment of cash distribution: Monday, 4 May 2009
Share certificates may not be dematerialised or rematerialised between
Thursday, 23 April 2009 and Thursday, 30 April 2009, both dates
inclusive. Any changes in the above dates will be announced on SENS.
Pretoria
31 March 2009
Designated Advisor
Arcay Moela Sponsors (Pty) Ltd
Date: 31/03/2009 11:58:00 Produced by the JSE SENS Department.
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