Delta Electrical Industries Limited - Initial Special Dividend Announcement
DELTA ELECTRICAL INDUSTRIES LIMITED
Registration number 1919/006020/06
Share code: DEL ISIN: ZAE000002036
(Incorporated in the Republic of South Africa)
("the company" or "DEI")
Initial special dividend announcement
"Shareholders are referred to the announcements released on 9 June, 18 August,
24 August and 29 September 2005 and the circular to ordinary shareholders dated
25 July 2005 regarding the disposal of the Repairs and Services and Replacement
Parts divisions of DEI ("the disposal").
DEI announces that the disposal has been successfully concluded. The final sale
price was R1 341 766 950, which has been received in full.
DEI intends to distribute the surplus proceeds from the disposal to DEI
shareholders after making adequate provision for the future funding requirements
of its remaining business, Delta EMD ("the EMD business"). DEI is currently in
the process of assessing the funding requirements of the EMD business and this
process is not yet complete.
It is DEI"s intention to distribute the surplus disposal proceeds in a manner
that maximises value in the hands of DEI shareholders and a number of options
are being evaluated.
The optimal means of distributing the surplus disposal proceeds could still take
some time to finalise. DEI is, however, currently in a position to distribute an
initial special dividend of R6 per DEI share without in any way limiting the
options for maximising value for DEI shareholders.
The following are the salient dates for the payment of the initial special
dividend:
Friday, 25 November 2005 Last day to trade to qualify for the dividend
Monday, 28 November 2005 Shares commence trading ex-dividend on the JSE
Limited
Friday, 2 December 2005 Record date
Monday, 5 December 2005 Payment date
The dividend is declared in the currency of the Republic of South Africa. Share
certificates may not be dematerialised or rematerialised between Monday, 28
November 2005 and Friday, 2 December 2005 both days inclusive.
The final special dividend is likely to be paid out in the first half of 2006."
Sandton
10 November 2005
Financial adviser and transaction sponsor
UBS
Date: 10/11/2005 05:10:03 PM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
