| Mon 19 Dec 2005, 7:00 | | Coronation Fund Managers Limited - Distribution To |
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Coronation Fund Managers Limited - Distribution To Shareholders
Coronation Fund Managers Limited
(Incorporated in the Republic of South Africa)
(Registration number 1973/009318/06)
ISIN: ZAE000047353
Share code: CML
("Coronation" or "the Company")
DISTRIBUTION TO SHAREHOLDERS
1. Introduction
Shareholders are referred to the Coronation announcement dated 15 November
2005 wherein shareholders were advised that the Board had resolved to proceed
with a distribution to Coronation shareholders of 36 cents per Coronation
share, in lieu of a dividend, by way of a specific return of share premium
("the distribution").
The distribution is subject to shareholder approval of an ordinary resolution
authorising the return of share premium. A circular and notice of general
meeting regarding the distribution will be posted to shareholders on 23
December 2005.
2. Financial effects
The following table has been prepared for illustrative purposes only and sets
out the pro forma financial effects of the distribution on a Coronation
shareholder, based on the assumptions set out below.
Due to the nature of the pro forma financial effects, they may not fairly
present the issuer"s financial position, changes in equity, results of
operations or cash flows. The directors of Coronation are responsible for the
preparation of the unaudited pro forma financial effects.
Audited Pro forma
before the after the
Notes distribution distribution Percentag
e change
Basic earnings per share (cents) 1, 2 48.5 47.0 (3)
Headline earnings per share 1, 2 47.6 46.1 (3)
(cents)
Fully diluted earnings per share 1, 3 45.3 43.9 (3)
(cents)
Fully diluted headline earnings 1, 3 44.5 43.1 (3)
per share (cents)
Net asset value per share 4, 5 57.7 20.2 (65)
(cents)
Net tangible asset value per 4, 5 57.7 20.2 (65)
share (cents)
Weighted average number of 382 275 382 275
shares in issue (`000)
Actual number of shares in issue 382 275 382 275
(`000)
Fully diluted weighted average 413 132 413 132
number of shares in issue (`000)
Notes:
1. The adjustments to the basic earnings per share and headline earnings
per share represent after-tax interest forfeited on the cash distributed, a
a pre-tax rate of 5.75% per annum, on the assumption that the distribution
occurred on 1 October 2004.
2. The basic earnings per share and headline earnings per share
calculations are based on the weighted average number of shares in issue
during the year.
3. The fully diluted earnings per share and headline earnings per share
calculations are based on the weighted average number of shares in issue
during the year, plus such further shares as are likely to be issued to
vendors pursuant to historic acquisitions.
4. The adjustment to the net asset value and tangible net asset value per
share represents the distribution and interest forfeited as explained in no
1.
5. The net asset value and tangible net asset value is based on the number
of shares in issue at 30 September 2005 plus such further shares as are
likely to be issued to vendors pursuant to historic acquisitions.
3. Salient dates
The salient dates for the implementation of the distribution are as follows:
2006
Last day to lodge proxy form
for the general meeting by 10:00, on Monday, 23 January
General meeting to be held at 10:00, on Wednesday, 25 January
Results of general meeting released on the
Securities Exchange News Service, on Wednesday, 25 January
Results of general meeting published in the South
African press, on Thursday, 26 January
Last day to trade "cum" the distribution, on Friday, 3 February
Trading commences "ex" the distribution, on Monday, 6 February
Record date, on Friday, 10 February
Distribution date, on Monday, 13 February
Notes:
1. These dates and times are subject to amendment. Any amendments to the
dates and times will be announced on the Securities Exchange News Service a
published in the South African press.
2. All times shown in this announcement are South African local times.
3. Shares may not be dematerialised or rematerialised between Monday, 6
February 2006 and Friday, 10 February 2006, both days inclusive.
4. If the general meeting is adjourned or postponed, proxy forms must be
received by no later than 48 hours prior to the time of the adjourned or
postponed general meeting.
Cape Town
19 December 2005
Sponsor to Coronation
Deutsche Securities (SA) (Pty) Ltd
Date: 19/12/2005 07:00:14 AM Produced by the JSE SENS Department
