Sage Group Limited - Terms Of The Capitalisation S
(Incorporated in the Republic of South Africa)
(Registration number 1970/010541/06)
("Sage")
TERMS OF THE CAPITALISATION SHARE AWARD
Further to the announcement published by Sage in the press on Friday, 1 June
2001, the board of directors has determined the terms of the capitalisation
share award.
1 Terms of the award
Ordinary shareholders registered in the books of Sage at the close of
business on 22 June 2001 ("record date") will be eligible for the award.
The capitalisation share entitlement ratio ("the entitlement ratio") will be
equal to the lesser of the ratio that 81 cents bears to the
97% of the weighted average traded price of Sage ordinary shares on the JSE
Securities Exchange SA ("the JSE") for the four business days ending
Thursday, 19 July 2001, and 0,09278.
The capitalisation share entitlement will be equal to the number of Sage
ordinary shares held on the record date x the entitlement ratio.
2 Fractions
Any fractions of a new Sage ordinary share entitlement that result from the
capitalisation share award will rank for a residual cash payment based on
the cash dividend alternative of 81 cents per Sage ordinary share.
3 Listing
Subject to the approval of the JSE, the capitalisation shares will be listed
on Friday, 27 July 2001. Share certificates and cheques in respect of the
cash dividend election and fractional entitlements will be despatched by
that date.
The new Sage ordinary shares to be issued will rank pari passu in all
respects with the existing Sage ordinary shares in issue.
4 Cash dividend alternative
Ordinary shareholders may instead elect, on the form of election in the
documentation, to receive a cash dividend of 81 cents per ordinary share in
respect of either their entire shareholding or part thereof.
5 Documentation
Documentation incorporating the abovementioned form of election will be
despatched to shareholders on Friday, 29 June 2001.
6 Closing date
Shareholders should note that the election for the cash dividend alternative
closes at 12:00 on Friday, 20 July 2001. The non-receipt of completed forms
of election by Fraser Street Registrars (Pty) Limited, Sage's transfer
secretaries, will result in the automatic allotment and issue of
capitalisation shares in respect of the shareholder's entire shareholding.
By order of the board
CS Cant
Secretary
Johannesburg
18 June 2001
Sponsoring brokers
Merrill Lynch
Smith Borkum Hare
Merrill Lynch South Africa (Pty) Limited
Member of the JSE Securities Exchange SA
Registration number 95/01805/07
ABN AMRO
ABN AMRO Securities (South Africa) (Pty) Ltd
Registration number 95/01231/07
Member of the JSE Securities Exchange SA
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
