| Tue 5 Apr 2011, 15:10 | | NAI/NAN - NAIL - Advance Agterskot Payment and Dividend Declaration (No 6) |
|
NAI NAN
NAI
NAI/NAN - NAIL - Advance Agterskot Payment and Dividend Declaration (No 6)
New Africa Investments Limited
(Incorporated in the Republic of South Africa)
(Registration number 1993/002467/06)
Share code: NAI and NAN
ISIN: ZAE000033338 and ZAE000033346
("NAIL")
ADVANCE AGTERSKOT PAYMENT AND DIVIDEND DECLARATION (NO 6)
1. ADVANCE AGTERKSOT PAYMENT
In terms of NAIL`s disposal of its effective interest in KFM Radio
(Proprietary) Limited ("KFM") in April 2004, and following the recent
settlement of a tax dispute relating to KFM`s trademark deduction, NAIL has
received an initial additional purchase consideration from Primedia (Pty)
Limited ("Primedia") amounting to R14.284m ("additional KFM disposal
proceeds"), which is being distributed to shareholders as a dividend.
NAIL shareholders are referred to the circular dated 3 April 2009 ("2009
Offer circular"), wherein Primedia and Capricorn Capital Partners
Investments (Proprietary) Limited ("Capricorn") ("the Offerors") made an
offer to acquire NAIL shares, not already held by the Offerors ("2009
Offer"). In terms of the 2009 Offer, NAIL shareholders had the option of
accepting the Once-off Offer Consideration of 68 cents per NAIL share or
the Agterskot Offer Consideration which comprised of the Initial Cash
Portion of 26 cents per share plus the Agterskot Amount (which includes the
receipt by NAIL of additional KFM disposal proceeds).
Consequently, former NAIL shareholders who accepted the Agterskot Offer
Consideration and sold their shares in terms of the 2009 Offer are now
entitled to an Advance Agterskot of 11.34 cents per NAIL share ("the
Advance Agterskot Amount"). Payment of the Advance Agterskot Amount will
be made by the Offerors on or about Tuesday 3 May 2011 and will be made in
the manner as described in paragraph 3.5 of the 2009 Offer Circular.
2. DIVIDEND NUMBER 6
Shareholders are advised that a cash dividend of 17.60 cents has been
declared by NAIL out of its cash reserves and will be payable to holders of
ordinary and N ordinary shares recorded in the books of the company on
Friday, 29 April 2011 as follows:
Last date to trade cum dividend Tuesday 19 April 2011
First date to trade ex dividend Wednesday 20 April 2011
Record date Friday 29 April 2011
Payment date Tuesday 3 May 2011
The shares cannot be dematerialised or rematerialised during the period
Wednesday, 20 April 2011 and Friday, 29 April 2011, both dates inclusive.
By order of the Board.
Sandton
5 April 2011
Sponsor to NAIL
Investec Bank Limited
Date: 05/04/2011 15:10:33 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.
