| Thu 29 Apr 2010, 8:00 | | CLS - Clicks Group Limited - Interim Distribution |
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CLS
CLS
CLS - Clicks Group Limited - Interim Distribution
Clicks Group Limited
(Formerly New Clicks Holdings Limited)
(Registration number 1996/000645/06)
Share code: CLS ISIN: ZAE000134854
("Clicks Group")
INTERIM DISTRIBUTION
The Clicks Group board has approved an interim distribution of 30.5 cents per
share to shareholders by way of a capital reduction out of Clicks Group`s
share premium account. The interim distribution is in lieu of the interim
dividend on the ordinary shares for the six months ended 28 February 2010.
The payment of the interim distribution by way of a capital reduction out of
Clicks Group`s share premium account is subject to the passing of the
requisite ordinary resolutions at the general meeting to be held at 10:00, on
Friday, 14 May 2010. A circular containing full details of the interim
distribution has been posted today, Thursday, 29 April 2010.
In terms of the JSE Listings Requirements, Clicks Group is required to
disclose the financial effects of the interim distribution. The table below
sets out the unaudited pro forma financial effects of the interim
distribution on net asset value ("NAV") and net tangible asset value ("NTAV")
per share based on the published unaudited interim results of Clicks Group
for the six months ended 28 February 2010. The unaudited pro forma financial
effects are the responsibility of the directors and have been prepared for
illustrative purposes only. Because of the basis of this calculation, the NAV
and NTAV, may not necessarily provide a fair reflection of Clicks Group`s NAV
and NTAV after the implementation of the interim distribution.
Actual Pro forma Pro forma
before the adjustment after the Change
interim (note 2) interim %
distribution distribution
(note 1)
NAV per share 405.8 30.5 375.3 (7.5)
(cents)
NTAV per share 256.4 30.5 225.9 (11.9)
(cents)
No of shares in 281 546 - 281 546 -
issue (`000)
Notes:
1. As per the published unaudited interim results of Clicks Group for the
six months ended 28 February 2010 as published on Thursday, 22 April 2010.
2. Adjustments to the NAV per share and the NTAV per share have been made
on the assumption that the interim distribution of 30.5 cents per share was
paid on 28 February 2010.
Shareholders are advised of the following dates in respect of the interim
distribution:
2010
Last day that Clicks Group shares trade cum the Friday, 25 June
interim distribution
Clicks Group shares trade ex the interim Monday, 28 June
distribution
Record date to determine those Clicks Group Friday, 2 July
shareholders entitled to the interim distribution
Payment in respect of the interim distribution Monday, 5 July
made to Clicks Group shareholders
Clicks share certificates may not be dematerialised or re-materialised
between Monday, 28 June 2010 and Friday, 2 July 2010, both days inclusive.
Cape Town
29 April 2010
Investment Bank and Sponsor
Investec Bank Limited
Date: 29/04/2010 08:00:01 Produced by the JSE SENS Department.
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