| Mon 27 Jul 2009, 15:43 | | CKS - Crookes - Results of annual general meeting including shareholders |
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CKS
CKS
CKS - Crookes - Results of annual general meeting including shareholders
approval on the capital reduction
Crookes Brothers Limited
Registration No. 1913/000290/06
Share code: CKS
ISIN NO: ZAE000001434
("Crookes" the "company")
RESULTS OF ANNUAL GENERAL MEETING INCLUDING SHAREHOLDERS APPROVAL ON THE
CAPITAL REDUCTION
Shareholders are advised that, at the company`s annual general meeting held
at 12h00 on Friday, 24 July 2009 the special resolution and all the ordinary
resolutions, including a cash distribution of 50,0 cents per share by way of
a capital reduction out of the share premium account, proposed thereat, were
approved by the requisite majority of shareholders.
Resolution number 3 related to, inter alia, the placing of the unissued
shares under the control of the directors was withdrawn by the board of
directors prior to the annual general meeting.
The special resolution will be lodged for registration with the Companies and
Intellectual Property Registration Office in due course.
The salient dates of the cash distribution are as follows:
2009
Last day to trade cum the distribution Thursday, 6 August
Shares trade ex the distribution Friday, 7 August
Record date Friday, 14 August
Payment date Monday, 17 August
Share certificates may not be dematerialised or rematerialised between
Friday, 7 August 2009 and Friday, 14 August 2009, both days inclusive.
Financial effects
The unaudited, pro forma financial effects of the cash distribution on the
the earnings, headline earnings, net asset value and net tangible asset value
based on the financial results of Crookes for the 12 months ended 31 March
2009, are set out below.
Preparation of the unaudited pro forma financial effects is the
responsibility of Crookes` directors. The unaudited pro forma financial
information is prepared for illustrative purposes only, and because of its
nature, may not fairly present the financial position of Crookes or the
results of its operations after the cash distribution.
Before After Change
%
Earnings per share 584,7 579,7 (1)
Headline earnings per share 356,6 351,6 (1)
Net asset value and net 2762 2712 (2)
tangible asset value per
share
Number of shares in issue 12 385 000 12 385 000 -
Weighted average number of 12 384 500 12 384 500 -
shares in issue
Notes:
1. Extracted from the annual financial results of Crookes for the year
ended 31 March 2009
2. Pro forma earnings and headline earnings per share are based on Crookes`
published audited year end results for the 12 months ended 31 March 2009
after taking into account the following adjustment:
- an average interest rate on borrowings of 14,08%.
3. The pro forma earnings figures illustrate the possible financial effects
if the cash distribution had been paid on 1 April 2008.
4. The net asset value and net tangible asset figures are based on the
assumption that the cash distribution was paid on 31 March 2009.
The working capital statement relating to the cash distribution appears on
page 57 of the annual report.
Renishaw
27 July 2009
Sponsor
Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 27/07/2009 15:43:02 Produced by the JSE SENS Department.
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