| Wed 24 Mar 2010, 10:55 | | NED - Nedbank Group Limited - Capitalisation award with a cash dividend to be |
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NED
NED
NED - Nedbank Group Limited - 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 annual results for the year ended
31 December 2009 released on the Securities Exchange News Service (`SENS`) on
Wednesday, 24 February 2010, 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, 9
April 2010 (`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 (230 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 Wednesday, 31 March 2010.
The number of shares to which shareholders wishing to participate in the
capitalisation award will become entitled will be determined in the ratio that
230 cents per ordinary share bears to R127.66, being the 30-day volume-
weighted average traded price of Nedbank Group ordinary shares on JSE Limited
(`JSE`) at the close of business on Tuesday, 23 March 2010 (`VWAP`), the
formula being:
Capitalisation share entitlement = (number of shares held on the record date x
230 cents) / (VWAP of R127.66)
This equates to 1.80166 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 Thursday, 1 April 2010. Nedbank Group shares will trade `ex` the
entitlement with effect from the commencement of business on Thursday, 1 April
2010. Shares may not be dematerialised or rematerialised between Thursday, 1
April 2010 and Friday, 9 April 2010, both days inclusive. A circular
(including a form of election) dealing with the capitalisation award was
posted to shareholders on Monday, 15 March 2010.
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, 9 April 2010, 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, 9 April 2010.
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, 12 April 2010.
Certificated shares and cheques will be posted by registered post and ordinary
post respectively to certificated shareholders at their risk on or about
Monday, 12 April 2010. A further announcement will be published on SENS and in
the press on or about Monday, 12 April 2010, detailing the results of the
capitalisation award and the cash dividend alternative.
Sandton
24 March 2010
Investment bank, corporate adviser and sponsor
Nedbank Capital
Independent lead sponsor
Merrill Lynch South Africa (Pty) Limited
Sponsoring broker in Namibia
Old Mutual
Date: 24/03/2010 10:55:01 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.
