| Mon 10 May 2010, 11:20 | | GMB - Glenrand M I B - Results of the capitalisation award |
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GMB
GMB
GMB - Glenrand M I B - Results of the capitalisation award
GLENRAND M I B LIMITED
(a Licensed Financial Services Provider)
(Incorporated in the Republic of South Africa)
(Registration number 1997/008001/06)
Share code: GMB & ISIN: ZAE000078010
("Glenrand M I B" or "the company")
RESULTS OF THE CAPITALISATION AWARD
The announcement of the company`s interim results for the six months ended 31
December 2009 was released on the Securities Exchange News Service (`SENS`) on
Tuesday, 2 March 2010, in which notice was given that an award of new fully paid
Glenrand M I B ordinary shares (`the new shares`) would be made to shareholders
recorded in the register of the company at the close of business on Friday, 7
May 2010 (`the record date`).
In terms of the announcement shareholders would be entitled, in respect of all
or part of their shareholding, to elect to participate in the capitalisation
award, failing which they would receive the cash dividend alternative (3 cents
per ordinary share) to 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 was Friday, 30 April 2010.
The number of new shares to which shareholders wishing to participate in the
capitalisation award would become entitled was determined in the ratio that 3
cents per Glenrand M I B ordinary share bears to R1.05, being the 30-day volume-
weighted average traded price of Glenrand M I B ordinary shares on the JSE
Limited at the close of business on Tuesday, 20 April 2010.
This equated to 2.86449 new Glenrand M I B ordinary shares for every 100
Glenrand M I B ordinary shares held on the record date. Fractions of shares
will not be issued.
Glenrand M I B ordinary shareholders holding 205 867 687 Glenrand M I B ordinary
shares elected to receive the capitalisation award, resulting in the issue of 5
897 059 new shares. Accordingly, a cash dividend of R2 587 818.45 was paid in
respect of 86 260 615 Glenrand M I B ordinary shares.
Dividend cheques and share certificates in respect of the new shares were posted
to certificated shareholders at their risk and the participant or broker custody
accounts of dematerialised shareholders were credited today.
Sandton
10 May 2010
Investment bank, corporate adviser and sponsor
Nedbank Capital
Date: 10/05/2010 11:20:02 Produced by the JSE SENS Department.
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