Makalani - Update on the distribution policy of Makalani
Makalani Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2005/000726/06)
Ordinary share code: MKL
ISIN: ZAE000066700
(`Makalani` or `the Company`)
Update on the distribution policy of Makalani
The directors of Makalani today resolved that the Company amend its distribution
policy in terms of which it will, on a semi-annual basis, distribute 100% of all
its after tax income realised in cash to the linked unit holders of the Company,
subject to good corporate governance and sound business principles.
This is in line with the policy stated in the prospectus of `at least 50%` but
gives investors comfort regarding the intention of Makalani to distribute the
maximum amount to investors.
Johannesburg
10 May 2005
Merchant Bank, lead arranger and sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
CORPORATE FINANCE
Attorneys
Hofmeyr Herbstein & Gihwala Inc.
Lead Sponsor
PricewaterhouseCoopers Corporate Finance (Proprietary) Limited
Reporting accountants and auditors
PricewaterhouseCoopers Inc.
Date: 10/05/2005 02:32:04 PM
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