| Mon 24 May 2010, 15:02 | | BRT/ BRN - Brimstone Investment Corporation Limited - Results of the |
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BRT BRN
BRT
BRT/ BRN - Brimstone Investment Corporation Limited - Results of the
Capitalisation Award
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")
RESULTS OF THE CAPITALISATION AWARD
The announcement of the company`s annual results for the year ended 31
December 2009 was released on the Securities Exchange News Service ("SENS")
on Tuesday, 23 February 2010, in which notice was given that an award of new
fully paid Brimstone "N" ordinary shares ("the new "N" ordinary shares")
would be made to 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 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 (32 cents per "N" ordinary share and/or 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, 14 May
2010.
The number of the new "N" ordinary shares to which shareholders wishing to
participate in the capitalisation award would become entitled was determined
in the ratio that 32 cents per Brimstone "N" ordinary share or per ordinary
share bears to R12.53, being the 30-day volume-weighted average traded price
("VWAP") of Brimstone "N" ordinary shares on the JSE Limited at the close of
business on Tuesday, 4 May 2010.
This equated to 2.55446 new Brimstone "N" ordinary shares for every 100
Brimstone "N" ordinary shares and/or ordinary shares held on the record
date. Where a shareholder`s entitlement of the new "N" ordinary shares
gives rise to a fraction of a new "N" ordinary share, such fraction of a new
"N" ordinary share will be rounded up to the nearest whole number where the
fraction is greater than or equal to 0.5 and rounded down to the nearest
whole number where the fraction is less than 0.5.
Brimstone "N" ordinary shareholders and ordinary shareholders holding 42 928
260 Brimstone "N" ordinary shares and 8 164 656 Brimstone ordinary shares
respectively elected to receive the capitalisation award, resulting in the
issue of 1 305 179 new "N" ordinary shares. Accordingly, a total cash
dividend of R69 494 015.04 was paid in respect of 180 221 906 Brimstone "N"
ordinary shares (cash dividend of R57 671 009.92) and 36 946 891 Brimstone
ordinary shares (cash dividend of R11 823 005.12).
Dividend cheques and share certificates in respect of the new "N" ordinary
shares were posted to certificated shareholders at their risk and the
Central Securities Depository Participant or broker custody accounts of
dematerialised shareholders were credited today.
Cape Town
24 May 2010
Sponsor
Nedbank Capital
Date: 24/05/2010 15:02:02 Produced by the JSE SENS Department.
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