Northam - Capital Reduction
Release Date: 19/03/2003 17:05:01 Code(s): NHM
Northam - Capital Reduction
NORTHAM PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1977/003282/06)
Share code: NHM
ISIN: ZAE000030912
("the company")
CAPITAL REDUCTION
Introduction
Shareholders are advised that the board of directors of the company has proposed
a cash distribution of 20 cents per ordinary share in the issued share capital
of the company by way of a reduction of the company"s share premium account
("the distribution"). The company has cash resources in excess of its needs and
the directors have therefore resolved to return part of these funds to the
company"s shareholders.
Salient dates relative to the distribution
The distribution will be paid on Monday, 12 May 2003 to those shareholders of
the company who are recorded in the register on Friday, 9 May 2003 ("the record
date").
To comply with the procedures of STRATE the last day to trade (cum the
distribution) in the company"s shares for purposes of entitlement to the
distribution is Friday, 2 May 2003. The shares will commence trading ex the
distribution on Monday, 5 May 2003.
Share certificates may not be dematerialised or rematerialised between Monday, 5
May 2003 and Friday, 9 May 2003, both days inclusive.
Condition precedent
The distribution is conditional upon the approval of the company"s shareholders
in general meeting.
Documentation
A circular dealing with the distribution, including a notice convening a general
meeting to be held on or about Wednesday, 16 April 2003, which is subject to the
approval of the JSE Securities Exchange South Africa, will be posted to
shareholders on or about Thursday, 27 March 2003.
Johannesburg
19 March 2003
Sponsor Independent reporting Attorneys
accountants
Barnard Jacobs Mellet Ernst & Young Bowman Gilfillan
Corporate Finance (Pty) Inc.
Limited
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
