| Wed 21 Jul 2010, 11:09 | | TON - Tongaat Hulett Limited - Results of the scrip distribution |
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TON - Tongaat Hulett Limited - Results of the scrip distribution
Tongaat Hulett Limited
(Registration No. 1892/000610/06)
JSE share code: TON
ISIN: ZAE000096541
RESULTS OF THE SCRIP DISTRIBUTION
In the announcement of the results for the financial period ended 31 March 2010,
as released on the Securities Exchange News Service ("SENS") of the JSE Limited
("JSE") on 28 May 2010 and published in the press on 31 May 2010, shareholders
were notified of the payment of a scrip distribution or an entitlement to elect
to receive a cash dividend of 175 cents per ordinary share ("the cash dividend
alternative").
Subsequently, as released on SENS on 2 July 2010 and published in the press on 5
July 2010, shareholders were furthermore notified of the scrip distribution
ratio of 1.76360 new ordinary shares per every 100 ordinary shares held, which
was determined in the ratio that 175 cents multiplied by a factor of 1.05 is
relative to 10419 cents (R104.19), being the volume weighted average price of
ordinary shares on the JSE during the 22-day trading period ended on 1 July
2010.
The cash dividend alternative entitled shareholders, in respect of all or part
of their shareholding, to elect to receive a cash dividend of 175 cents per
ordinary share in lieu of the scrip distribution, which was payable only to
those shareholders who elected to receive the cash dividend, in respect of all
or part of their shareholding, on or before 16 July 2010.
Shareholders holding 39 343 037 ordinary shares elected to receive the cash
dividend alternative, which will result in a total cash dividend of R68 850
314.75 being paid out of profits. In respect of the remaining 64 334 192
ordinary shares currently in issue, 1 134 530 fully paid ordinary shares of R1,
00 each will be issued to shareholders in terms of the scrip distribution, which
will result in a capitalisation out of the share premium account of R1 134 530.
Share certificates and dividend cheques, where applicable, will be posted to
certificated shareholders at their risk and the Central Securities Depositary
Participant/ broker accounts of dematerialised shareholders will be credited/
updated on Thursday, 22 July 2010.
Amanzimnyama
Tongaat, KwaZulu-Natal
21 July 2010
Advisor and transaction sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Sponsor
Investec Bank Limited
Attorneys
Shepstone & Wylie
Date: 21/07/2010 11:09:05 Produced by the JSE SENS Department.
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completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
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