| Tue 21 Feb 2006, 12:17 | | Paracon - Results Of Annual General Meeting And Ca |
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PCN
PCN
Paracon - Results Of Annual General Meeting And Capital Distribution
Paracon Holdings Limited
Incorporated in the Republic of South Africa
(Registration Number 1997/008181/06)
Share code: PCN & ISIN: ZAE000029674
("Paracon")
RESULTS OF ANNUAL GENERAL MEETING AND CAPITAL DISTRIBUTION
Results of annual general meeting
Shareholders are advised that, at the annual general meeting of Paracon held
today, all the resolutions were passed by the requisite majority of shareholders
present and represented by proxy. The special resolution will be submitted for
registration at the Registrar of Companies in due course.
Capital distribution
Shareholders are further advised that, a capital distribution to shareholders,
to be paid out of share premium, of 6 (six) cents per share (2004: 3 (three)
cents per share) will be made.
Pro forma financial effects
The table below sets out the pro forma financial effects of the capital
distribution to be paid out of share premium on Paracon"s financial results for
the year ended 30 September 2005. The pro forma financial effects have been
prepared for illustrative purposes only, and, because of their nature, they may
not give a true reflection of Paracon"s financial position or results.
Per Paracon ordinary share Before the After the Percentage
distribution distribution change
out of share out of share %
premium 1 premium
Net asset value (cents) 50,8 44,92 (11,8)
Net tangible asset value (cents) 32,2 26,2 2 (18,6)
Headline earnings (cents) 8,6 8,3 3 (3,3)
Basic earnings (cents) 8,6 8,3 3 (3,3)
Shares in issue net of treasury 383 310 398 383 310 398 -
shares
Weighted average shares in issue 386 813 906 386 813 906
upon which earnings per share and -
headline earnings per share are
based 4
Notes:
1. Based on the published consolidated audited results for the year ended
30 September 2005.
2. Based on the assumption that the distribution out of share premium was
effected on 30 September 2005.
3. Based on the assumption that the distribution out of share premium was
effected on 1 October 2004. Cash resources are assumed to earn an
after-tax return of 4,8%.
4. Weighted average shares in issue takes into account treasury shares
held by a subsidiary.
Salient dates
The salient dates applicable to the capital distribution to be paid out of share
premium are set out below:
Last day to trade Friday, 3 March 2006
Trading commences ex distribution Monday, 6 March 2006
Record date Friday, 10 March 2006
Payment date Monday, 13 March 2006
Share certificates may not be dematerialised or rematerialised between Monday, 6
March 2006 and Friday, 10 March 2006, both days inclusive.
21 February 2006
Sponsor
Merchant Sponsors (Proprietary) Limited
Date: 21/02/2006 12:17:07 PM Produced by the JSE SENS Department
