| Thu 6 Oct 2011, 17:48 | | NAI/NAN - New Africa Investments Limited - Advance Agterskot payment and |
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NAI NAN
NAI
NAI/NAN - New Africa Investments Limited - Advance Agterskot payment and
dividend declaration (no 7)
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 7)
D
1. ADVANCE AGTERSKOT 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 a second additional purchase
consideration from Primedia (Pty) Limited ("Primedia") amounting to
R16.042m ("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 a second Advance Agterskot of 12.66 cents
per NAIL share ("the Advance Agterskot Amount"). Payment of the
Advance Agterskot Amount will be made by the Offerors on or about
Monday, 31 October 2011 and will be made in the manner as described
in paragraph 3.5 of the 2009 Offer Circular.
2. DIVIDEND NUMBER 7
Shareholders are advised that a cash dividend of 12.67 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, 28 October 2011 as follows:
Last date to trade cum Friday 21 October 2011
dividend
First date to trade ex Monday 24 October 2011
dividend
Record date Friday 28 October 2011
Payment date Monday 31 October 2011
The shares cannot be dematerialised or rematerialised during the
period Monday, 24 October 2011 and Friday, 28 October 2011, both
dates inclusive.
By order of the Board.
Sandton
06 October 2011
Sponsor
INVESTEC BANK LIMITED
Date: 06/10/2011 17:48:34 Produced by the JSE SENS Department.
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