| Thu 29 Jul 2010, 7:05 | | ADR - Adcorp Holdings Limited - Scrip distribution ratio and final salient dates |
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ADR
ADR
ADR - Adcorp Holdings Limited - Scrip distribution ratio and final salient dates
and times announcement
Adcorp Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1974/001804/06)
Share code: ADR ISIN: ZAE000000139
("Adcorp" or "the Company")
SCRIP DISTRIBUTION RATIO AND FINAL SALIENT DATES AND TIMES ANNOUNCEMENT
Shareholders are referred to the results announcement released on SENS on
Tuesday, 4 May 2010 and in the press on Wednesday, 5 May 2010, wherein notice
was given that directors resolved to issue new fully paid ordinary shares as a
scrip distribution to shareholders, recorded in the register of the Company at
the close of business on Friday, 13 August 2010, with a cash dividend election.
Shareholders are advised that the volume weighted average price of ordinary
shares on the JSE Limited ("JSE") during the 5-day trading period ended on
Tuesday, 27 July 2010 was 2722 cents (R27.22) per share.
Accordingly, the number of shares to which shareholders will be entitled will be
determined as follows:
* in the ratio that 115 cents per share multiplied by 1,10 bears to R27.22
per share, being the 5 day volume weighted average price ("VWAP") at the close
of business on Tuesday, 27 July 2010.
This equates to 4.64732 new Adcorp ordinary shares for every 100 shares held.
Shareholders wishing to participate in the cash dividend of 115 cents per share
in respect of all or part of their shareholding must elect to do so.
Shareholders not electing to receive the cash dividend of 115 cents per share
will receive scrip distribution shares.
THE FINAL SALIENT DATES AND TIMES
In accordance with the provisions of Strate Limited, the electronic settlement
and custody system used by JSE, the final dates and times of the scrip
distribution are as follows:
2010
Circular (including a form of election) regarding the Thursday, 1 July
scrip distribution posted to shareholders
Last day to trade in order to be eligible for the scrip Thursday, 5 August
distribution/cash dividend (CUM distribution)
Shares trade EX the scrip distribution/dividend Friday, 6 August
Listing of the maximum possible number of ordinary Friday, 6 August
shares that could be issued in terms of the scrip
distribution
Last day to elect a cash dividend instead of the scrip Friday, 13 August
distribution by 12:00
Record date in respect of the scrip distribution/cash Friday, 13 August
dividend
Share certificates and dividend cheques posted and Monday, 16 August
CSDP/broker accounts credited/updated
Announcement of the results of scrip distribution on Monday, 16 August
SENS
Announcement of the results of scrip distribution in Tuesday, 17 August
the press
Maximum number of new ordinary shares listed adjusted Wednesday, 18 August
to reflect the actual number of ordinary shares issued
on or about
Ordinary share certificates may not be dematerialised or rematerialised between
Friday, 6 August 2010 and Friday, 13 August 2010, both days inclusive.
All times provided in this announcement are South African local times.
Where applicable, dividends in respect of certificated shares will be
transferred electronically to shareholders` bank accounts on the payment date.
In the absence of specific mandates, dividend cheques will be posted to
shareholders. Subject to the approval of the JSE Limited, a listing of the
maximum number of shares to be issued pursuant to the scrip distribution will
take place on Friday, 6 August 2010, on which date the shares will trade "ex"
the entitlement.
Shareholders who have dematerialised their shares are required to notify their
duly appointed CSDP or broker of their election in the manner and time
stipulated in the custody agreement governing the relationship between the
shareholder and their CSDP or broker. Certificated shares or cheques will be
posted by registered post to certificated shareholders at their risk on or about
Monday, 16 August 2010.
In respect of dematerialised shareholders, 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, 16 August
2010.
A further announcement will be published on SENS on or about Monday, 16 August
2010 and in the press on or about Tuesday, 17 August 2010, detailing the results
of the scrip distribution.
Bryanston
29 July 2010
Sponsor
Deloitte & Touche Sponsor Services (Pty) Limited
Date: 29/07/2010 07:05:01 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.
