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MML
MML
Metmar - Cash distribution of 10 cents per share resulting in an after taxation
"dividend yield" of 7.41% per Metmar share
Metmar Limited
(formerly Heritage Collection Holdings Limited)
Incorporated in the Republic of South Africa
Registration number 1998/007269/06
Share code: MML
ISIN code: ZAE000078747
("Metmar" or "the company")
Cash distribution of 10 cents per share resulting in an after taxation "dividend
yield" of 7.41% per Metmar share
1. Introduction
The directors are pleased to announce that the company will be distributing, out
of share premium, 10 cents per share held in accordance with the timetable set
out below ("the distribution"). The distribution is being implemented in terms
of the general authority to make payments to shareholders granted to directors
at the general meeting held on 13 April 2006. The distribution results in an
after taxation "dividend yield" of 7.41% per Metmar share based on Metmar"s
closing price of 135 cents on the JSE Limited on 28 June 2006.
2. Important dates relating to the distribution
The important dates relating to the distribution are set out below:-
Last day to trade in order to participate
in the distribution Friday, 14 July 2006
Metmar shares commence trading "ex" distribution Monday, 17 July 2006
Record date for the distribution Friday, 21 July 2006
Payment date for the distribution Monday, 24 July 2006
Metmar share certificates may not be dematerialised or remateralised between
Monday, 17 July 2006 and Friday, 21 July 2006, both dates inclusive.
3. Financial effects of the distribution
The unaudited pro forma financial effects of the distribution on Metmar, on the
specific line items of the balance sheet, and the assumptions, are set out
below. The unaudited pro forma financial effects of the distribution are the
responsibility of the directors. The distribution will not have a significant
effect on earnings, headline earnings, net asset value and tangible net asset
value as far as a Metmar shareholder is concerned.
Before the Proposed Pro forma
distribution(1) distribution after the
R"000 R"000 distribution
(2)
R"000
Assets
Cash and cash equivalents 42 308 (17 536) 24 772
Equity and liabilities
Equity attributable to 71 350 (17 536) 53 814
shareholders
Assumptions:
1. As per the unaudited pro forma results of Metmar for the year ended 28
February 2006 as published on 18 May 2006.
2. Adjustments to cash and cash equivalents and equity attributable to
shareholders were made on the assumption that the distribution to shareholders
was paid on 28 February 2006.
Bryanston
30 June 2006
Sponsor: BDO QuestCo (Pty) Limited
Date: 29/06/2006 12:36:04 PM Produced by the JSE SENS Department
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