| Wed 14 Apr 2010, 13:07 | | OAO - Oando PLC - Recommendation of dividend and bonus issue of ordinary |
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OAO
UNTP
OAO - Oando PLC - Recommendation of dividend and bonus issue of ordinary
shares
Oando PLC
(Incorporated in Nigeria and registered as an external company in South
Africa)
Registration number: RC 6474
(External company registration number: 2005/038824/10)
Share Code on the JSE Limited: OAO
Share Code on the Nigerian Stock Exchange: UNTP
ISIN: NGOANDO00002
("Oando" or "the Company" or "the Group")
Recommendation of dividend and bonus issue of ordinary shares
Dividend and bonus issue
The board will be recommending a dividend of three Naira (Naira 3.00) for each
ordinary share of fifty kobo each and bonus shares at the rate of one ordinary
share of fifty kobo for every two ordinary shares of fifty kobo each held for
the twelve months to 31 December 2009. Both the dividend and the bonus issue
are subject to the approval of shareholders at the Annual General Meeting to
be held at 10.00 a.m(GMT+1) on Friday, 7 May 2010.
The salient dates are:
Dividend 2010
Currency conversion calculated at 11:00 South 12 April
African time on
Last day for trading to qualify for and participate Tuesday, 13 April
in the dividend (cum dividend) in South Africa
Trading ex dividend in South Africa commences on Wednesday, 14 April
Transfers between the Nigerian Register and the Wednesday, 14 April
South African Register closed - Tuesday, 20 April
Record date in South Africa Tuesday, 20 April
Record date in Nigeria Tuesday, 20 April
Nigerian Register closed Wednesday, 21 April
-Tuesday, 27 April
Announcement released confirming the dividend has Friday, 7 May
been declared
Dividend payment date in Nigeria Tuesday, 31 August
Dividend payment date in South Africa (electronic Tuesday, 31 August
and certificated register)
On Monday, 31 August 2010 payment due to certificated shareholders on the
South African registry will either be electronically transferred to
shareholders` bank accounts or, in the absence of suitable mandates, dividend
cheques will be posted to such shareholders.
Shareholders who hold dematerialised shares will have their accounts, at their
Central Securities Depository Participant or broker credited on Tuesday, 31
August 2010) in respect of the dividend. Share certificates may not be
dematerialised or rematerialised between Wednesday, 14 April 2010 and Tuesday,
20 April 2010, both days inclusive.
Currency conversion
The currency conversion at 11:00 South African time on 12 April 2010 was 1
Rand = Naira 20.7634. Accordingly, the dividend of three Naira (Naira 3.00)
per ordinary share equates to 14.4485 cents per ordinary share.
Listing of bonus shares
It is intended that the last day to trade in order to qualify for the bonus
shares will be 20 May 2010. An announcement advising the remaining dates
applicable to the listing of the bonus shares and the date that the accounts
with CSDPs and brokers will be credited in South Africa with bonus shares or
issue of new share certificates re the bonus issue posted, will be released
once the necessary regulatory approvals have been obtained.
Withholding tax
Shareholders are advised that a withholding tax of 10% is payable by all
shareholders on the dividend. Accordingly the dividend net of withholding tax
is Two Naira Seventy Kobo (Naira 2.70) 13.00365 cents per ordinary share).
Rounding principle
The allocation of bonus shares will be such that shareholders will not be
allocated a fraction of a bonus share and as such any bonus share giving rise
to a fraction of less than one of a bonus share will be rounded down to the
nearest whole number. This is applicable to investors on both the Nigerian and
South African share register.
Rights issue
On 19 January 2010 Oando announced that a rights issue of 301 694 876 ordinary
shares of 50 kobo each at Naira 70.00 per share is to be undertaken by the
Company ("the rights issue"). Shareholders are advised that the rights issue
shares and the excess shares applied for in terms of the rights issue will not
be eligible to participate in the dividend, but will be eligible to
participate in the bonus issue.
Johannesburg
14 April 2010
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 14/04/2010 13:07:03 Produced by the JSE SENS Department.
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