| Fri 18 May 2001, 0:00 | | Amalgamated Appliance Holdings Limited |
|
(Incorporated in the Republic of South Africa)
(Registration number 1997/004130/06)
("Amap" or "the company")
AMALGAMATED APPLIANCE: CAPITALISATION SHARE AWARD
Amalgamated Appliance Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/004130/06)
("Amap" or "the company")
CAPITALISATION SHARE AWARD
Further to the announcement dated 4 May 2001, the directors have resolved to
issue fully paid ordinary shares in the company as a capitalisation share
award to ordinary shareholders registered in the books of the company at the
close of business on Friday, 25 May 2001.
Shareholders holding 10 000 ordinary shares or more will be entitled, in
respect of all or part of their shareholding, to elect to receive instead a
cash dividend of 2,0 cents per ordinary share. New fully paid ordinary
shares in the company will be issued only to those ordinary shareholders who
do not elect, in respect of all or part of their shareholding on or before
Friday, 22 June 2001, to receive the aforementioned dividend. In order to
avoid the creation of too many odd-lot shareholdings, the directors have
resolved that ordinary shareholders holding fewer than 10 000 ordinary
shares must elect to take the capitalisation share award, failing which,
they will be deemed to have elected to receive the cash dividend.
The number of capitalisation shares to which shareholders are entitled will
be determined in the ratio that 2,0 cents per ordinary share multiplied by
1,0 bears to the weighted average price of AMAP's ordinary shares on the JSE
Securities Exchange South Africa ("the JSE") for the four business days
ending Thursday, 21 June 2001. Where entitlements to new AMAP ordinary
shares result in fractions of shares, the fraction will be rounded up, such
that the shareholder will receive a whole number of ordinary shares.
Documentation dealing with the capitalisation share award and election will
be posted to shareholders on or about Friday, 1 June 2001. In order to be
valid, completed election forms will need to be received by AMAP's transfer
secretaries by no later than 12:00 on Friday, 22 June 2001.
Subject to the approval of the JSE, a listing for the new ordinary shares to
be issued pursuant to the capitalisation share award will commence on or
about Wednesday, 27 June 2001.
It is expected that dividend cheques and share certificates will be posted
to shareholders on or about Wednesday, 27 June 2001.
A further announcement will be made on or about Monday, 25 June 2001,
reporting on the results of the election.
Johannesburg
21 May 2001
Sponsor
Bridge Capital Services (Pty) Limited
(Registration number 1998/016301/07)
(a sponsor registered with the
JSE Securities Exchange South Africa)
