| Tue 30 Jun 2009, 9:42 | | 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
A special resolution passed by shareholders at the Annual General meeting held
on 1 April 2009 granted approval for the directors to make payments to
shareholders out of share capital. In lieu of a third quarter dividend, the
board of directors has resolved, to declare an interim capital distribution out
of share premium of 4 cents per share, payable on Monday, 03 August 2009, to
shareholders recorded in the register of the Company as at Friday, 31 July 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 and
reserves 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 six months ended 30
March 2009, 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 30 March 2009.
Before the After the Percentage
capital capital change
distribution distribution
Earnings per share 16.06 16.06 No change
(cents)
Headline earnings per 16.06 16.06 No change
share (cents)
Net asset value per share 56.75 52.75 (7.05%)
(cents)
Net tangible asset value 45.14 41.14 (8.86%)
per share (cents)
Notes:
1. The "Before the capital distribution" column has been extracted from the
published unaudited quarterly results for the six months ended 30 March
2009.
2. The "After the capital distribution" column shows the effect of the capital
distribution on the published unaudited quarterly results for the six
months ended 30 March 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 Friday, 24 July 2009
distribution ("LDT"):
Date trading commences "ex" the cash Monday, 27 July 2009
distribution
Record date for payment of the cash Friday, 31 July 2009
distribution:
Date of payment of cash distribution: Monday, 03 August 2009
Share certificates may not be dematerialised or rematerialised between Monday,
27 July 2009 and Friday, 31 July 2009, both dates inclusive. Any changes in the
above dates will be announced on SENS.
Pretoria
30 June 2009
Designated Advisor
Arcay Moela Sponsors (Pty) Ltd
Date: 30/06/2009 09:42:01 Produced by the JSE SENS Department.
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