- Cash Dividend Distribution in Lieu of Capital Di
Steers Holdings - Cash Dividend Distribution in Lieu of Capital Distribution
Steers Holdings Limited
(Registration number. 1969/004875/06)
Share code: STE ISIN code:
ZAE000008330
("Steers Holdings" or "the company")
Cash Dividend Distribution in Lieu of Capital Distribution
Shareholders are referred to the announcement published on 27 October 2003 in
which a capital distribution of 6,5 cents per Steers Holdings share (the
"capital distribution") was declared, subject to JSE Securities Exchange South
Africa and Steers Holdings shareholder approval.
Subject to shareholder approval at the general meeting being called to consider
the acquisition of the shares in Pleasure Foods (Pty) Limited ("the
acquisition"), Steers Holdings intends paying the purchase consideration in
respect of the acquisition on or about 1 December 2003. If Steers Holdings were
to proceed with the capital distribution, this would result in a delay in the
issue of the consideration shares in respect of the acquisition (which would not
have ranked for the capital distribution) resulting in interest penalties to
Steers Holdings.
Consequently and in order to expedite the payment of the cash dividend to Steers
Holdings shareholders, the directors of Steers Holdings have resolved to declare
a cash dividend of 6,5 cents per share instead of the capital distribution.
The salient dates and times relating to the cash dividend are as follows:
2003
Last day to trade in Steers Holdings
shares for purposes of entitlement to the Friday, 21 November
cash dividend
Steers Holdings shares to trade ex cash Monday, 24 November
dividend
Record date for the cash dividend Friday, 28 November
Payment of cash dividend Monday, 1 December
Steers Holdings share certificates may not be dematerialised or re-materialised
between Monday, 24 November and Friday, 28 November, both days inclusive.
Johannesburg
5 November 2003
Sponsor
Java Capital (Pty) Limited
Date: 05/11/2003 02:10:32 PM Produced by the JSE SENS Department
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