| Thu 17 Nov 2011, 17:20 | | SHF - Steinhoff International Holdings Limited - Issue price and ratio of |
|
SHF
SHF
SHF - Steinhoff International Holdings Limited - Issue price and ratio of
entitlement of FY11 capital distribution
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
Issue price and ratio of entitlement of FY11 capital distribution
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 9 November 2011 and in the press on 10 November
2011 ("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 2 377 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, 16
November 2011, 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 3.42 shares for every 100 shares held on 2
December 2011 ("the record date"). Therefore, the maximum number of
capitalisation shares that will be issued, should all shareholders retain the
share award, is 56 607 630 shares.
Shareholders will receive capitalisation shares in the company unless they elect
by the record date to receive the final cash distribution of 65 cents per share
in respect of the financial year ended 30 June 2011.
Based on the ratio of entitlement of 3.42 for every 100 shares held, the cash
distribution of 65 cents per share translates to a discount of 20% 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, 28 November
2011. An adjustment to the number of the capitalisation shares listed will be
made on or about Tuesday, 6 December 2011, in accordance with the actual
elections made.
The salient dates applicable to the share award as announced on SENS on 9
November 2011 remain unchanged.
Johannesburg
17 November 2011
Company Secretary: Steinhoff Africa Secretarial Services (Proprietary) Limited
Sponsor: PSG Capital (Proprietary) Limited
Date: 17/11/2011 17:20:20 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.
