| Fri 26 Aug 2005, 14:10 | | CAPITALISATION AWARD WITH A CASH DIVIDEND |
|
Nedbank Group - Finalisation announcement in respect of Capitalisation Award
with a Cash Dividend default alternative
Nedbank Group Limited
(Formerly Nedcor Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1966/010630/06)
Share Code: NED & ISIN Code: ZAE000004875
(`Nedbank Group` or `the Company`)
CAPITALISATION AWARD WITH A CASH DIVIDEND TO BE PAID TO SHAREHOLDERS NOT
ELECTING TO RECEIVE CAPITALISATION AWARD SHARES
Further to the Company`s interim results announcement for the six months ended
30 June 2005 released on the Securities Exchange News Services (`SENS`) on 4
August 2005, 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 Friday, 9 September 2005
(`the record date`). In terms of the announcement, shareholders will be
entitled, in respect of all or part of their shareholding, to elect to
participate in the capitalisation award failing which they will receive the cash
dividend alternative (105 cents per ordinary share that will be paid to those
shareholders not electing to participate in the capitalisation award). The last
day to trade to participate in the capitalisation share award or the cash
dividend alternative will be Friday, 2 September 2005.
The number of shares to which shareholders wishing to participate in the
capitalisation award will become entitled will be determined in the ratio that
105 cents per ordinary share bears to 8612 cents, being the 30 day volume
weighted average traded price of Nedbank Group ordinary shares on the JSE as at
the close of business on 25 August 2005 (`VWAP`), the formula being:
Capitalisation share entitlement = (number of shares held on the record date x
105 cents)/(VWAP of Rx)
This equates to 1.21923 new Nedbank Group ordinary shares for every 100 Nedbank
Group ordinary shares held. Shareholders wishing to participate in the
capitalisation award in respect of all or part of their shareholding must elect
to do so. Subject to the approval of the JSE Limited (`JSE`), a listing of the
maximum number of new shares to be issued pursuant to the capitalisation award
will commence on Monday, 5 September 2005. The new shares will trade `ex` the
entitlement with effect from the commencement of business on Monday, 5 September
2005. Shares may not be dematerialised or rematerialised between Monday, 5
September 2005 and Friday, 9 September 2005, both days inclusive. A circular
(including a form of election) dealing with the capitalisation award was posted
to shareholders on Monday, 22 August 2005.
Forms of election in respect of shareholders who have not yet dematerialised
their shares (`certificated shareholders`) and who wish to elect to participate
in the capitalisation award must be received by the transfer secretaries,
Computershare Investor Services 2004 (Proprietary) Limited, 70 Marshall Street,
Johannesburg, 2001 (PO Box 61763, Marshalltown, 2107) by no later than 12h00 on
Friday, 9 September 2005.
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 their 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 CSDP or broker accounts on
Monday, 12 September 2005.
Certificated shares or cheques will be posted to certificated shareholders at
their risk on Monday, 12 September 2005. A further announcement will be
published on SENS on or about Monday, 12 September 2005, detailing the results
of the capitalisation award and the cash dividend alternative.
Johannesburg
26 August 2005
Investment bank, corporate adviser and sponsor
Nedbank Capital
Independent lead sponsor
Merrill Lynch
Corporate law advisers
Edward Nathan
Date: 26/08/2005 01:47:10 PM
