FRO
FRO
Frontrange Limited - Distribution To Shareholders
FRONTRANGE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/009928/06)
Share code: FRO ISIN: ZAE000035325
("FRO")
DISTRIBUTION TO SHAREHOLDERS
Ernst & Young Sponsors (Proprietary) Limited is authorised to announce that as
the requisite majority of shareholders approved the various resolutions at the
general meeting of FRO held at 11:00 on Wednesday, 21 December 2005 relating to,
inter alia, the disposal of all the material underlying assets of FRO and based
on the recent receipt by FRO of the aggregate purchase consideration from the
purchaser Ferrari Holding, Inc (as converted to South African currency at an
average exchange rate of R6,3251 per US$), the distribution to FRO shareholders
will be R5,37006 per FRO share.
The distribution will be paid out on Monday, 9 January 2006 in accordance with
the timetable outlined in the circular to FRO shareholders (dated 5 December
2005) without regard to any lien, right of set-off, counterclaim or analogous
right to which FRO may otherwise be, or claim to be, entitled against any
shareholder. The distribution comprises a dividend as defined by the Income Tax
Act of R4,14583 per share and a return of capital component of R1,22423 per
share.
The shares in the company will be delisted from the JSE with effect from
Tuesday, 10 January 2006.
Johannesburg
5 January 2006
List of advisors:
Sponsor
Nedbank Capital
Transactional sponsor and corporate advisors:
Ernst & Young Sponsors (Pty) Ltd
Incorporated in the Republic of South Africa
(Registration number 2000/031843/07)
Legal advisors / attorneys
Webber Wentzel
Date: 05/01/2006 12:12:15 PM Produced by the JSE SENS Department
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