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Kap International Holdings Limited - Terms Of The Capitalisation Award And
Election To Receive A Cash Dividend In Lieu Thereof
KAP INTERNATIONAL HOLDINGS LIMITED
Registration number: 1978/000181/06
Share code: KAP
ISIN number: ZAE 000059564
(`KAP`)
TERMS OF THE CAPITALISATION AWARD AND ELECTION TO RECEIVE A CASH DIVIDEND IN
LIEU THEREOF
INTRODUCTION
Shareholders are referred to the results announcement dated 14 March 2005 and
are advised that the directors of KAP have determined the terms of the
capitalisation award and the right of election to receive a cash dividend in
lieu thereof.
TERMS OF THE CAPITALISATION AWARD
Shareholders recorded in the register of KAP at the close of business on Friday,
20 May 2005, will be eligible for the capitalisation award and/or the cash
dividend. The last day to trade in order to be entitled to participate in the
capitalisation award and/or the cash dividend will be Friday, 13 May 2005.
Shareholders will receive capitalisation shares in the company unless they elect
to receive the cash dividend of 5 cents per share in respect of the financial
year ended 31 December 2004.
The rounded number of shares to which a shareholder will be entitled in terms of
this capitalisation award will be determined by multiplying the number of
ordinary shares held by the shareholder, by a ratio equal to 1,65 shares for
every 100 shares held.
Trading in the STRATE environment does not permit fractions and fractional
entitlements. Accordingly, where a shareholder`s entitlement to new ordinary
shares calculated in accordance with the abovementioned ratio gives rise to a
fraction of a new ordinary share, such fraction will be rounded up to the
nearest whole number where the fraction is greater than or equal to 0,5 and
rounded down to the nearest whole number where the fraction is less than 0,5.
GENERAL
A circular dealing with the capitalisation award and incorporating a Form of
Election will be posted to registered shareholders on Thursday, 28 April 2005.
SALIENT DATES AND TIMES OF THE CAPITALISATION AWARD
2005
Last day to trade in order to be eligible for the Friday, 13
capitalisation award /cash dividend May
Trading commences ex-entitlement Monday, 16
May
Closing date for the election of cash or Friday, 20
capitalisation shares at 12:00 (See note below) May
Record date Friday, 20
May
Share certificates and dividend cheques posted Monday, 23
and CSDP/broker accounts credited/updated May
Shares may not be dematerialised or rematerialised between Monday, 16 May 2005
and Friday, 20 May 2005, both days inclusive
Note:
Dematerialised shareholders are required to notify their duly appointed CSDP or
broker of their acceptance of the offer in the manner and time stipulated in the
agreement governing the relationship between the shareholder and his/her CSDP or
broker.
For and on behalf of the board
M Balladon
Company secretary
28 April 2005
Sponsor: PSG Capital Limited
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