Results Of Capitalisation Award And Right Of Elect
Nedcor Limited - Results Of Capitalisation Award And Right Of ElectionTo
Release Date: 13/04/2004 12:26:24 Code(s): NED
Nedcor Limited - Results of Capitalisation Award and Right of Election to
Receive the Final Dividend of 35 cents per Share in lieu thereof
Nedcor Limited
(Incorporated in the Republic of South Africa)
(Registration number 1966/010630/06)
Share Code: NED ISIN Code: ZAE000004875
("Nedcor" or "the Company")
Results of Capitalisation Award and Right of Election to Receive the Final
Dividend of 35 cents per Share in lieu thereof
The right of shareholders recorded in the register of Nedcor at the close of
business on Thursday, 8 April 2004 to elect to receive the final cash dividend
of 35 cents per ordinary Nedcor share instead of the award of capitalisation
shares of 0.77778 for every 100 existing shares held ("the new shares"), closed
on Thursday, 8 April 2004.
Elections to receive the final dividend of 35 cents per ordinary share were made
in respect of 26 530 748 ordinary shares resulting in a total dividend payment
of R9 285 762. Accordingly, 1 930 629 new ordinary shares out of a maximum of 2
136 979 new ordinary shares are to be issued pursuant to the capitalisation
award, being a 90.3% acceptance of such award.
Following the issue of the new ordinary shares, the issued ordinary share
capital of Nedcor will consist of 276 685 054 ordinary shares of 100 cents each.
Listing of new ordinary shares
The JSE Securities Exchange South Africa listed the maximum number of 2 136 979
new ordinary shares on 2 April 2004.
An adjustment will be made to reflect the 1 930 629 new shares, on or about
Thursday, 15 April 2004.
Issue of shares and payment of final dividend
In respect of dematerialised shareholders, safe custody accounts with Central
Securities Depository Participants or brokers were updated and credited today
with the entitlement in respect of the new ordinary shares and/or payments.
Certificated shareholders" share certificates and/or cheques were posted (or
cash electronically transferred, if so elected) also today.
Sandton
13 April 2004
Lead Sponsor
Merrill Lynch South Africa (Proprietary) Limited
Investment Bank, Corporate Advisor and Sponsor
Nedbank Capital
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