| Mon 16 Aug 2010, 13:11 | | ADR - Adcorp Holdings Limited - Results of the scrip distribution |
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ADR
ADR
ADR - Adcorp Holdings Limited - Results of the scrip distribution
Adcorp Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1974/001804/06)
Share code: ADR ISIN: ZAE000000139
("Adcorp" or "the Company")
RESULTS OF THE SCRIP DISTRIBUTION
Shareholders are referred to the results announcement released on SENS on
Tuesday, 4 May 2010 and in the press on Wednesday, 5 May 2010, relating to the
payment of 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.
Subsequently, as released on SENS on 29 July 2010 and published in the press on
30 July 2010, shareholders were furthermore notified of the scrip distribution
ratio of 4.64732 new ordinary shares per every 100 ordinary shares held, which
was determined in the ratio that 115 cents multiplied by a factor of 1.10 bears
to R27.22, being the 5 day volume weighted average price ("VWAP") at the close
of business on Tuesday, 27 July 2010.
Shareholders are advised that Adcorp shareholders holding 7 933 278 ordinary
shares elected to receive the cash dividend, which will result in a total cash
dividend of
R 9 123 269.70 being paid out of profits. In respect of the remaining 51 520 006
ordinary shares currently in issue, 2 394 271 fully paid ordinary shares of 2.5
cents 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 R65
172 056.62.
Share certificates or dividend cheques, where applicable, will be posted by
registered post to certificated shareholders at their risk on Monday, 16 August
2010. In respect of dematerialised shareholders, accounts with the CSDP or
broker will also 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.
Bryanston
16 August 2010
Sponsor
Deloitte & Touche Sponsor Services (Pty) Limited
Date: 16/08/2010 13:11:02 Produced by the JSE SENS Department.
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