| Thu 31 Aug 2006, 11:02 | | Nedbank - Capitalisation award with a cash dividen |
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NED
Nedbank - Capitalisation award with a cash dividend
Nedbank Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1966/010630/06)
Share Code: NED & ISIN Code: ZAE000004875
("Nedbank Group" or "the Company")
Capitalisation award with a cash dividend to be paid to shareholders not
electing to receive capitalisation award shares
Further to the announcement of the Company"s interim results for the six
months ended 30 June 2006 published on the Securities Exchange News Service
("SENS") on Monday, 7 August 2006, notice is hereby given that an award of
new fully paid ordinary shares ("the new shares") will be distributed to
shareholders recorded in the register of the Company at the close of
business on Friday, 15 September 2006 ("the record date"). In terms of the
announcement, shareholders will be entitled, in respect of all or part of
their shareholding, to elect to participate in the capitalisation award
failing which they will receive the cash dividend alternative (209 cents
per ordinary share that will be paid to those shareholders not electing to
participate in the capitalisation award). The last day to trade to
participate in the capitalisation award or the cash dividend alternative
will be Friday, 8 September 2006.
The number of shares to which shareholders wishing to participate in the
capitalisation award will become entitled will be determined in the ratio
that 209 cents per ordinary share bears to R104.66, being the 30 day volume
weighted average traded price of Nedbank Group ordinary shares on the JSE
as at the close of business on Wednesday, 30 August 2006 ("VWAP"), the
formula being:
Capitalisation share entitlement = (number of shares held on the record
date x 209 cents) / (VWAP of R104.66)
This equates to 1.99694 new Nedbank Group ordinary shares for every 100
Nedbank Group ordinary shares held. Shareholders wishing to participate in
the capitalisation award in respect of all or part of their shareholding
must elect to do so. Subject to the approval of the JSE Limited ("JSE"), a
listing of the maximum number of new shares to be issued pursuant to the
capitalisation award will commence on Monday, 11 September 2006. The new
shares will trade "ex" the entitlement with effect from the commencement of
business on Monday, 11 September 2006. Shares may not be dematerialised or
rematerialised between Monday, 11 September 2006 and Friday, 15 September
2006, both days inclusive. A circular (including a form of election)
dealing with the capitalisation award was posted to shareholders on
Wednesday, 23 August 2006.
Forms of election in respect of shareholders who have not yet
dematerialised their shares ("certificated shareholders") and who wish to
elect to participate in the capitalisation award must be received by the
transfer secretaries, Computershare Investor Services 2004 (Proprietary)
Limited, 70 Marshall Street, Johannesburg, 2001 (PO Box 61763,
Marshalltown, 2107) by no later than 12h00 on Friday, 15 September 2006.
Shareholders who have dematerialised their shares are required to notify
their duly appointed Central Securities Depository Participant ("CSDP") or
broker of their election in the manner and time stipulated in the custody
agreement governing the relationship between the shareholder and their CSDP
or broker. In respect of dematerialised shareholders, safe custody accounts
with the CSDP or broker will be updated with the entitlement in respect of
the new ordinary shares and /or payments will be credited to their CSDP or
broker accounts on Monday, 18 September 2006.
Certificated shares and cheques will be posted by registered post and
ordinary post respectively, to certificated shareholders at their risk on
or about Monday, 18 September 2006. A further announcement will be
published on SENS and in the press on or about Monday, 18 September 2006,
detailing the results of the capitalisation award and the cash dividend
alternative.
Johannesburg
31 August 2006
Investment bank, corporate advisor and sponsor
Nedbank Capital
Independent lead sponsor
Merrill Lynch
Corporate law advisers
Edward Nathan
Date: 31/08/2006 11:02:07 AM Produced by the JSE SENS Department
