| Tue 5 Apr 2011, 14:04 | | OAO - Oando - Recommendation of dividend and bonus issue of ordinary shares |
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OAO
UNTP
OAO - Oando - Recommendation of dividend and bonus issue of ordinary shares
Oando PLC
(Incorporated in Nigeria and registered as an external company in South Africa)
(External Registration number: RC 6474
company registration number: 2005/038824/10)
Share Code on the JSE Limited: OAO
Share Code on the Nigerian Stock Exchange: UNTP
ISIN: NGOANDO00002
("Oando" or the "Company")
Recommendation of dividend and bonus issue of ordinary shares
Dividend and bonus issue
The board will be recommending a dividend of three Naira (Naira 3.00) for each
ordinary share of fifty kobo each and bonus shares at the rate of one ordinary
share of fifty kobo for every four ordinary shares of fifty kobo each held for
the twelve months to 31 December 2010. Both the dividend and the bonus issue
are subject to the approval of shareholders at the Annual General Meeting to be
held at 10.00 am(11:00am Central African Time ("CAT")) on Friday, 29 April 2011.
The salient dates are:
2011
Currency conversion calculated at close of business in Monday, 4 April
South Africa on
Last day for trading to qualify for and participate in Tuesday, 19 April
the dividend (cum dividend) and in the bonus shares in
South Africa
Trading ex dividend and bonus shares in South Africa Wednesday, 20 April
commences on
Transfers between the Nigerian Register and the South Wednesday, 20 April
African Register closed - Friday, 6 May
Announcement released confirming that the dividend and Friday, 29 April
bonus shares has been declared
Dividend and bonus shares Record date in South Africa Friday, 29 April
Dividend snd bonus shares Record date in Nigeria Friday, 29 April
Dividend payment and bonus shares listing date in Wednesday, 31 August
Nigeria on or about
Dividend payment and bonus shares listing date in Wednesday, 31 August
South Africa (electronic and certificated register) on
or about
Notes:
1. The above dates and times are based on South African dates and times.
2. It is anticipated that payment due to certificated shareholders on the South
African registry will either be electronically transferred to shareholders` bank
accounts or, in the absence of suitable mandates, dividend cheques will be
posted to such shareholders by Wednesday, 31 August 2011.
3. Shareholders who hold dematerialised shares will have their accounts, at
their Central Securities Depository Participant or broker credited by Wednesday,
31 August 2011 in respect of the dividend.
4. Share certificates may not be dematerialised or rematerialised between
Wednesday, 20 April 2011 and Friday, 6 May 2011, both days inclusive.
5. Any amendments to the above dates and times will be published on SENS.
Currency conversion
The currency conversion at close of business (CAT) on 4 April 2011 was 1 South
African Rand = 22.926 Naira. Accordingly, the dividend of three Naira (Naira
3.00) per ordinary share equates to 13.0856 South African cents per ordinary
share.
Withholding tax
Shareholders are advised that a withholding tax of 10% is payable by all
shareholders on the dividend. Accordingly the dividend net of withholding tax is
Two Naira Seventy Kobo (Naira 2.70) 11.77702 South African cents per ordinary
share).
Listing of bonus shares
It is intended that the last day to trade in order to qualify for the bonus
shares will be Tuesday, 19 April 2011 and the record date will be 29 April 2011.
It is anticipated that the bonus shares will be issued and listed by 31 August
2011 and shareholders` accounts with Central Securities Depository Participants
and brokers will be credited in South Africa with bonus shares or issue of new
share certificates in respect of the bonus issue posted by the same day.
Shareholders are advised that they may not trade in their new bonus shares until
they have been issued.
Rounding principle
The allocation of bonus shares will be such that shareholders will not be
allocated a fraction of a bonus share and therefore any bonus share giving rise
to a fraction of less than one of a bonus share will be rounded down to the
nearest whole number. This is applicable to investors on both the Nigerian and
South African share register.
Sandton
5 April 2011
JSE Sponsor
Macquarie First South Advisers (Proprietary) Limited
Date: 05/04/2011 14:04:06 Produced by the JSE SENS Department.
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