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Nedcor Limited - Capitalisation Award With Cash Dividend Election
Nedcor Limited
(Incorporated in the Republic of South Africa)
(Registration number 1966/010630/06)
Share Code: NED
ISIN Code: ZAE000004875
("Nedcor" or "the Company")
Capitalisation Award With Cash Dividend Election
Further to the Company"s preliminary results announcement for the year ended 31
December 2003 released on the Securities Exchange News Services ("SENS") on 23
February 2004 and published in the press on 24 February 2004, notice is hereby
given that an award of new fully paid ordinary shares ("the new shares") will be
distributed to shareholders recorded in the register of the Company at the close
of business on Thursday, 8 April 2004 ("the record date"). The last day to trade
for the capitalisation share award will be Thursday, 1 April 2004 ("CUM" the
entitlement). The number of shares to which shareholders will become entitled
will be determined in the ratio that 35 cents per share bears to R45 per share
being the offer price in respect of the rights issue.
Capitalisation share entitlement = (number of shares held on the record date X
35 cents)/R45
This equates to 0.77778 new shares for every 100 ordinary shares held.
Shareholders may elect to decline the capitalisation share award in respect of
all or part of their shareholding and instead receive the cash dividend of 35
cents per share ("the election"). Subject to the approval of the JSE Securities
Exchange South Africa ("JSE"), a listing of the maximum number of new shares to
be issued pursuant to the award will commence on Friday, 2 April 2004. The new
shares will trade "EX" the entitlement with effect from the commencement of
business on Friday, 2 April 2004. Shares may not be dematerialised or
rematerialised between Friday, 2 April 2004 and Thursday, 8 April 2004, both
days inclusive. Circulars (including a form of election) dealing with the
capitalisation award were posted to shareholders on Wednesday, 17 March 2004.
Forms of election in respect of shareholders who have not yet dematerialised
their shares ("certificated shareholders") and who wish to elect to receive the
cash dividend must be received by the transfer secretaries, Computershare
Limited, 70 Marshall Street, Johannesburg, 2001 (PO Box 61051, Marshalltown,
2107) by no later than 12:00 on Thursday, 8 April 2004 ("the election date").
Shareholders who have dematerialised their shares are required to notify their
duly appointed Central Securities Depository Participant (CSDP) or broker of
their election in the manner and time stipulated in the custody agreement
governing the relationship between the shareholder and his/her CSDP or broker.
In respect of dematerialised shareholders, safe custody accounts with the CSDP
or broker will be updated with the entitlement in respect of the new ordinary
shares and/or payments will be credited to their accounts at their CSDP or
broker on Tuesday, 13 April 2004.
Certificated shareholders will have their share certificates or cheques posted
(or cash electronically transferred, if so elected) at the risk of such
shareholders on Tuesday, 13 April 2004. A further announcement will be published
on SENS on Tuesday, 13 April 2004, detailing the results of the capitalisation
share award and cash election.
Johannesburg
25 March 2004
Sponsors
Merrill Lynch South Africa (Proprietary) Limited
Nedbank Capital
Date: 25/03/2004 02:49:42 PM Produced by the JSE SENS Department
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