| Tue 6 Oct 2009, 16:33 | | AFE - AECI Limited - Results Of The Capitalisation Award |
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AFE
AFE
AFE - AECI Limited - Results Of The Capitalisation Award
AECI LIMITED
Incorporated in the Republic of South Africa
(Registration No 1924/002590/06)
Share code: AFE ISIN code: ZAE000000220
("AECI" or "the Company")
RESULTS OF THE CAPITALISATION AWARD
AECI shareholders are referred to the announcements which were released by the
Company on the Securities Exchange News Service ("SENS") on Tuesday, 28 July
2009 and Thursday, 17 September 2009, together with the circular posted on 7
September 2009 regarding the capitalisation award ("capitalisation award").
Shareholders were entitled, as an alternative to the capitalisation award, in
respect of all or part of their shareholding, to elect to receive a cash
dividend of 28 cents per ordinary share ("the cash dividend alternative")
which would be paid only to those shareholders who had elected to participate
in the cash dividend alternative. Shareholders not electing to receive the
cash dividend alternative in respect of all or part of their shareholding
would, by default, be issued with fully paid ordinary shares in terms of the
capitalisation award. The last day to trade to participate in the
capitalisation award was Friday, 25 September 2009.
According to the terms of the capitalisation award, the number of new fully
paid AECI ordinary shares ("the new shares") to which shareholders would
become entitled would be determined in the ratio that 28 cents per ordinary
share bore to the 30-day volume-weighted average trading price of AECI
ordinary shares on the JSE Limited at the close of business on Wednesday, 16
September 2009. Shareholders were accordingly entitled to receive 0.50260
shares for every 100 shares held on Friday, 2 October 2009, being the record
date in terms of the capitalisation award, in lieu of the cash dividend
alternative of 28 cents per share. As trading in the Strate environment does
not permit fractions and fractional entitlements, fractions of shares were not
issued, but were rounded to the nearest whole number according to the rounding
principle.
AECI shareholders holding 57 464 247 AECI ordinary shares received the
capitalisation award, resulting in the issue of 288 883 new shares.
Accordingly, a cash dividend of R17 187 166.92 was paid in respect of 61 382
739 AECI ordinary shares in terms of which the cash dividend alternative was
elected.
Dividend cheques and share certificates in respect of new shares were posted
to certificated shareholders at their risk and the participant or broker
custody accounts of dematerialised shareholders were credited on Monday 5
October 2009.
Woodmead
6 October 2009
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 06/10/2009 16:33:01 Produced by the JSE SENS Department.
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