DECLARATION OF SPECIAL DIVIDEND AND ANNOUNCEMENT T
PSG GROUP LIMITED - DECLARATION OF SPECIAL DIVIDEND AND ANNOUNCEMENT TO
SHAREHOLDERS
PSG GROUP LIMITED
(Registration number 1970/008484/06)
Share Code: PSG
ISIN: ZAE000013017
("PSG Group" or "the Company")
DECLARATION OF SPECIAL DIVIDEND AND ANNOUNCEMENT TO SHAREHOLDERS
1. Special dividend
Further to the interim results announcement dated 6 October 2003, notice is
hereby given that the board of directors of the Company resolved on 4 February
2004, to declare a special dividend of 100 cents per share, payable to PSG Group
shareholders reflected in the share register of the Company at the close of
business on Friday, 30 April 2004, the record date. The dividend will be paid on
Monday, 3 May 2004. The last day to trade "cum" dividend is Thursday, 22 April
2004. Shares will trade "ex" dividend from the commencement of business on
Friday 23 April 2004.
Share certificates may not be dematerialised or rematerialised from Friday, 23
April 2004 to Friday, 30 April 2004, both dates inclusive. The dividend, which
will amount to approximately R115 million in total, will be paid out of the
retained earnings of the Company, and will be funded from the internal cash
resources of the Company.
This distribution together with the special distribution of 200 cents per share
in 2003 and the unbundling of Capitec Bank Holdings now concludes PSG Group"s
project unlock value. In future the board of PSG Group will concentrate on
project future growth.
2. Black Economic Empowerment transaction for Channel Life
PSG Group has in previous announcements indicated that discussion to facilitate
black economic empowerment at its 89% held subsidiary Channel Life Limited
("Channel Life") was at an advanced stage. The directors of PSG Group are
pleased to announce that an agreement has been finalised between Channel Life
shareholders and an empowerment consortium led by Mr Desmond Lockey ("Mr
Lockey") to acquire a significant holding in Channel Life. The only outstanding
condition precedent to this transaction is approval from the Competition
Commission.
Mr Lockey will join the board and play an active part in the future operations
of Channel Life. The directors of PSG Group are of the opinion that Mr Lockey
can make a significant contribution to the future success of Channel Life.
Stellenbosch
5 February 2004
Sponsor
PSG Capital
Date: 04/02/2004 05:16:03 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
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.
