| Wed 5 May 2010, 11:49 | | BRT/BRN - Brimstone - Capitalisation award of N ordinary shares |
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BRT BRN
BRT
BRT/BRN - Brimstone - Capitalisation award of "N" ordinary shares
("capitalisation award") with a cash dividend alternative to be paid to "N"
ordinary and ordinary shareholders not electing to receive capitalisation
award shares
BRIMSTONE INVESTMENT CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1966/010630/06)
Share Code: BRT ISIN: ZAE000015277
Share code: BRN ISIN: ZAE000015285
("Brimstone" or the "company")
CAPITALISATION AWARD OF "N" ORDINARY SHARES ("CAPITALISATION AWARD") WITH A
CASH DIVIDEND ALTERNATIVE TO BE PAID TO "N" ORDINARY AND ORDINARY 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
Tuesday, 23 February 2010, notice is hereby given that an award of new fully
paid "N" ordinary shares ("the new "N" ordinary shares") will be distributed
to "N" ordinary shareholders and ordinary shareholders ("shareholders")
recorded in the register of the company at the close of business on Friday, 21
May 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 (32 cents per "N" ordinary share and/or 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, 14 May
2010.
The number of "N" ordinary shares to which shareholders wishing to participate
in the capitalisation award will become entitled will be determined in the
ratio that 32 cents per "N" ordinary share or per ordinary share bears to
R12.53, being the 30-day volume-weighted average traded price of Brimstone "N"
ordinary shares on the JSE Limited (`JSE`) at the close of business on
Tuesday, 4 May 2010 (`VWAP`), the formula being:
Capitalisation "N" ordinary share entitlement = (number of "N" ordinary shares
and/or ordinary shares held on the record date x 32 cents) / (VWAP of R12.53).
This equates to 2.55446 new Brimstone "N" ordinary shares for every 100
Brimstone "N" ordinary shares and/or 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 the JSE,
a listing of the maximum number of new "N" ordinary shares to be issued
pursuant to the capitalisation award will commence on Monday, 17 May 2010.
Brimstone will trade `ex` the entitlement with effect from the commencement of
business on Monday, 17 May 2010. Shares may not be dematerialised or
rematerialised between Monday, 17 May 2010 and Friday, 21 May 2010, both days
inclusive. A circular (including form of election) dealing with the
capitalisation award was posted to shareholders on Monday, 26 April 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, Computershare Investor Services (Proprietary) Limited, 70
Marshall Street, Johannesburg, 2001 (PO Box 61763, Marshalltown, 2107) by no
later than 12:00 on Friday, 21 May 2010.
Shareholders who have dematerialised their shares ("dematerialised
shareholders") are required to notify their duly appointed Central Securities
Depository Participant ("CSDP") or broker of their election in the manner and
time stipulated in the custody agreement governing the relationship between
the shareholders and their CSDP or broker. In respect of dematerialised
shareholders, safe custody accounts with the CSDP or broker will be updated
with the entitlement in respect of the new ordinary shares and/or payments
will be credited to their CSDP or broker accounts on Monday, 24 May 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, 24 May 2010. A further announcement will be published on SENS and in
the press on or about Monday, 24 May 2010, detailing the results of the
capitalisation award and the cash dividend alternative.
Sandton
5 May 2010
Sponsor
Nedbank Capital
Date: 05/05/2010 11:49:01 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.
