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VLE
VLE
Value Group Limited - No Change Statement and Annual General Meeting
Value Group Limited
(Incorporated in the Republic of South Africa)
Registration number 1997/002203/06
ISIN: ZAE000016507
JSE Share code: VLE
("Value Group" or "the company")
NO CHANGE STATEMENT AND ANNUAL GENERAL MEETING
Shareholders are advised that the company"s annual financial statements for
the year ended 28 February 2006 were today posted to shareholders and
contain no modifications to the reviewed results which were published on 16
May 2006.
Charles Orbach & Company audited the results and the annual financial
statements of Value Group and their reports are available for inspection at
the registered offices of the company.
Annual General Meeting
Notice is hereby given that the annual general meeting of the company will
be held at 14h00 on Tuesday, 29 August 2006 at 49 Brewery Road, Isando,
Johannesburg to transact the business as stated in the notice of the annual
general meeting.
Distribution
The directors have proposed a cash distribution by way of a reduction of
share premium of 7 cents per ordinary share for the six months ended 28
February 2006 ("the distribution"), subject to the approval of shareholders
at the Annual General Meeting to be held on Tuesday, 29 August 2006.
Shareholders are advised of the following salient dates relating to the
distribution:
Declaration date Tuesday, 16 May 2006
Last day to trade "cum" the distribution Friday, 8 September 2006
Shares trade "ex" the distribution Monday, 11 September 2006
Record date Friday, 15 September 2006
Payment to shareholders Monday, 18 September 2006
Share certificates may not be dematerialised or rematerialised between
Monday, 11 September 2006 and Friday, 15 September 2006, both days
inclusive.
Pro forma financial effects of the distribution
The table below sets out the unaudited pro forma financial effects of the
distribution on a shareholder, based on the assumptions set out below. The
pro forma financial effects are provided for illustrative purposes only
and, because of its nature, may not be a fair reflection of the company"s
financial position, changes in equity, results of operations and cash flows
after the distribution. The pro forma information is the responsibility of
the company"s board of directors.
Actual before Adjustment Pro forma Percentage
distribution 2 after change
1 distribution (%)
(R"000) (R"000) (R"000)
Net tangible asset
value per share 170 (7) 163 (4,12)
(cents) 2 and 3
Net asset value per
share (cents) 2 and 3 177 (7) 170 (3,95)
Notes:
1. The information contained in the "actual before the distribution"
column has been extracted from the annual financial statements,
referred to above, for the year ended 28 February 2006.
2. The information contained in the "adjustment" column has been obtained
from ordinary resolution number 1 in the Notice of annual general
meeting.
3. Adjustments to net asset value per share and net tangible asset value
per share have been made on the assumption that the distribution was
effected on 28 February 2006.
4. The effect on net asset value and net tangible asset value has been
based on 207 599 040 shares in issue.
5. There are no effects on earnings per share or headline earnings per
share.
Johannesburg
7 August 2006
Sponsor: Investec Bank Limited
Date: 07/08/2006 04:01:55 PM Produced by the JSE SENS Department
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