| Mon 15 Jul 2002, 0:00 | | Investment Solutions Shareholders Approve Capital |
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Investment Solutions Shareholders Approve Capital Reduction
JSE Code: SLU
ISIN: ZAE 00019279
INVESTMENT SOLUTIONS SHAREHOLDERS APPROVE CAPITAL REDUCTION
Johannesburg - Monday July 15, 2002
Investment Solutions Holdings Limited shareholders today approved a resolution
to make a payment to shareholders by reducing the company`s share capital.
Shareholders unanimously approved the resolution, which means the company will
make a payment of 16 cents a share to all shareholders by way of a reduction in
the share capital of the company. The directors also declared a cash dividend
of 2,5 cents a share, which gave a total distribution for the year of 18,5 cents
a share.
The last date to trade to receive the distribution is July 26, 2002 and the
dividend and the capital distribution will be paid to shareholders recorded in
the register on August 2, 2002 (the record date) and will be paid to
shareholders on August 5, 2002. Shares may not be dematerialised or
rematerialised between July 22 and August 2, 2002.
The other resolutions tabled at today`s annual general meeting were also
approved unanimously.
ends
Please note:
Investment Solutions was listed on September 30, 1999 at an issue price of 220
cents a share. The share traded in range between 378 cents and 540 cents a
share during the 12 months to March 31, 2002 and closed at 450 cents a share on
March 31, 2002.
Investment Solutions operates a multi-manager business targeting institutional
funds and the private investor. It is the largest provider of multi-manager
investment portfolios in the South African market, with total assets under
management of R46,2-billion at March 31, 2002.
A comprehensive and defined investment process, utilising a skilled and
committed investment team and experienced investment committee, leads to the
creation of portfolios designed to optimise the risk return profile of clients.
Institutional funds access the multi-manager portfolios through linked
investment policies written by the group`s life company.
The private investor can access the Investment Solutions multi-manager
portfolios and unit trusts through a wide range of savings products and
investment portfolios, including retirement savings investment products, such as
living annuities, preservation funds, retirement annuities and umbrella pension
funds as well as discretionary savings products, such as endowment policies .
Investment Solutions uses its proven expertise to research, select, monitor and
review the asset managers it appoints to manage its portfolios. Investment
Solutions operates independently and has no ties to any of the asset managers.
Investment Solutions has established a strategic alliance with the Frank Russell
Company, the world`s leading multi-manager company, which enables Investment
Solutions to accelerate the development of its global business and international
product offerings to South African clients.
Visit our website - www.investmentsolutions.co.za
ends
ISSUED BY: PENELOPE GRACIE INVESTOR RELATIONS
ON BEHALF OF: INVESTMENT SOLUTIONS HOLDINGS LIMITED
FURTHER INFORMATION: PENELOPE GRACIE
CONTACT: OFFICE +27 (11) 447-3301
MOBILE 082-55-77-444
Date: 15/07/2002 02:40:00 PM Produced by the JSE SENS Department
