| Thu 18 Nov 2010, 15:03 | | SHF - Steinhoff International Holdings Limited - Capital distribution: issue |
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SHF
SHF
SHF - Steinhoff International Holdings Limited - Capital distribution: issue
price and ratio of entitlement of share award
STEINHOFF INTERNATIONAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration Number: 1998/003951/06
("Steinhoff" or "the company")
Share Code: SHF ISIN: ZAE000016176
CAPITAL DISTRIBUTION: ISSUE PRICE AND RATIO OF ENTITLEMENT OF SHARE AWARD
Shareholders are referred to the announcement of the terms of the capitalisation
share award ("the share award") published on the Securities Exchange News
Service ("SENS") of the JSE on 10 November 2010 and in the press on 11 November
2010 ("the terms announcement") and are hereby advised that the issue price of
the share award has now been determined.
The issue price applicable to the share award is 2207.83 cents per share, which
is the volume weighted average traded price per Steinhoff share on the JSE
Limited ("the JSE") over the five trading days up to and including Wednesday, 17
November 2010, being the last practical date before the finalisation and release
of this announcement on SENS.
Based on the issue price referred to above, the ratio of entitlement to
capitalisation shares will be 3.80 shares for every 100 shares held on 3
December 2010 ("the record date"). Therefore, the maximum number of
capitalisation shares that will be issued, should all shareholders retain the
share award, is 56 204 318 shares.
Shareholders will receive capitalisation shares in the company unless they elect
by the record date to receive the final cash distribution of 63 cents per share
in respect of the financial year ended 30 June 2010.
Based on the ratio of entitlement of 3.80 for every 100 shares held, the cash
distribution of 63 cents per share translates to a discount of 25.0% to the
equivalent value of the capitalisation shares valued at the issue price.
Application has been made to the JSE for the maximum possible number of
capitalisation shares to be issued in terms of the capitalisation award to be
listed with effect from the commencement of business on Monday, 29 November
2010. An adjustment to the number of the capitalisation shares listed will be
made on or about Tuesday, 7 December 2010, in accordance with the actual
elections made.
The salient dates applicable to the share award as announced on SENS on 10
November 2010 remain unchanged.
Johannesburg
18 November 2010
Company Secretary: S J Grobler
Sponsor: PSG Capital (Proprietary) Limited
Date: 18/11/2010 15:03:38 Produced by the JSE SENS Department.
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