| Thu 27 Aug 2009, 10:55 | | NED - Nedbank Group - Capitalisation award with a cash dividend to be paid to |
|
NED
NED
NED - Nedbank Group - Capitalisation award with a cash dividend to be paid to
shareholders not electing to receive capitalisation award shares
Nedbank Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1966/010630/06)
Share code JSE: NED Share code NSX: NBK
ISIN code: ZAE 000004875
(`Nedbank Group` or `the company`)
CAPITALISATION AWARD WITH A CASH DIVIDEND TO BE PAID TO SHAREHOLDERS NOT
ELECTING TO RECEIVE CAPITALISATION AWARD SHARES
Further to the announcement of the company`s interim results for the six months
ended 30 June 2009 released on the Securities Exchange News Service (`SENS`) on
Wednesday, 5 August 2009, notice is hereby given that an award of new fully paid
ordinary shares (`the new shares`) will be distributed to shareholders recorded
in the register of the company at the close of business on Friday, 11 September
2009 (`the record date`). In terms of the announcement, shareholders will be
entitled in respect of all or part of their shareholding, to elect to
participate in the capitalisation award, failing which they will receive the
cash dividend alternative (210 cents per ordinary share that will be paid to
those shareholders not electing to participate in the capitalisation award).
The last day to trade to participate in the capitalisation award or the cash
dividend alternative will be Friday, 4 September 2009.
The number of shares to which shareholders wishing to participate in the
capitalisation award will become entitled will be determined in the ratio that
210 cents per ordinary share bears to R108.69, being the 30-day volume-weighted
average traded price of Nedbank Group ordinary shares on JSE Limited (`JSE`) at
the close of business on Wednesday, 26 August 2009 (`VWAP`), the formula being:
Capitalisation share entitlement = (number of shares held on the record date x
210 cents) / (VWAP of R108.69)
This equates to 1.93210 new Nedbank Group ordinary shares for every 100 Nedbank
Group ordinary shares held. Shareholders wishing to participate in the
capitalisation award in respect of all or part of their shareholding must elect
to do so. Subject to the approval of JSE, a listing of the maximum number of
new shares to be issued pursuant to the capitalisation award will commence on
Monday, 7 September 2009. Nedbank Group shares will trade `ex` the entitlement
with effect from the commencement of business on Monday, 7 September 2009.
Shares may not be dematerialised or rematerialised between Monday, 7 September
2009 and Friday, 11 September 2009, both days inclusive. A circular (including a
form of election) dealing with the capitalisation award was posted to
shareholders on Tuesday, 11 August 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 capitalisation award must be received by the transfer secretaries in
South Africa, Computershare Investor Services (Proprietary) Limited, 70 Marshall
Street, Johannesburg, 2001 (PO Box 61763, Marshalltown, 2107) by no later than
12:00 on Friday, 11 September 2009, or the transfer secretaries in Namibia,
Transfer Secretaries (Proprietary) Limited, Shop 8, Kaiserkrone Centre, Post
Street Mall, Windhoek, Namibia (PO Box 2401, Windhoek, Namibia) by no later
than 11:00 on Friday, 11 September 2009.
Shareholders who have dematerialised their shares (`dematerialised
shareholders`) are required to notify their duly appointed participant
(previously referred to as central securities depository participant) or broker
of their election in the manner and time stipulated in the custody agreement
governing the relationship between the shareholders and their participant or
broker. In respect of dematerialised shareholders, safe custody accounts with
the participant or broker will be updated with the entitlement in respect of the
new ordinary shares and/or payments will be credited to their participant or
broker accounts on Monday, 14 September 2009.
Certificated shares and cheques will be posted by registered post and ordinary
post respectively to certificated shareholders at their risk on or about Monday,
14 September 2009. A further announcement will be published on SENS and in the
press on or about Monday, 14 September 2009, detailing the results of the
capitalisation award and the cash dividend alternative.
Sandton
27 August 2009
Investment bank, corporate adviser and sponsor
Nedbank Capital
Independent lead sponsor
Merrill Lynch South Africa (Pty) Limited
Sponsoring broker in Namibia
Old Mutual
Date: 27/08/2009 10:55:02 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.
