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AGI
AGI
AGI - Results of the capitalisation award
A G INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1980/004051/06
Share Code: AGI & ISIN: ZAE000039467
("AGI" or "the Company")
RESULTS OF THE CAPITALISATION AWARD
In the announcement regarding the company"s reviewed results for the year
ended 30 June 2006, published on SENS on 4 September 2006 and in the
press on 6 September 2006, shareholders were advised that the directors
have resolved to distribute to ordinary shareholders a portion of the
share premium account in lieu of a dividend to ordinary shareholders
("the distribution"). The distribution amounted to 9.0 cents per
ordinary share (the maximum possible amount being R17 803 798) to
ordinary shareholders recorded in the register on Friday, 13 October 2006
("the record date"). Shareholders were entitled and were given the
opportunity to decline the distribution and elect to receive an award of
new capitalisation shares in respect of all or part of their
shareholding. Shareholders were entitled to 2.90 new ordinary shares for
every 100 ordinary shares held. Fractions of shares were to be rounded
and were not to be issued. The last day to trade to participate in the
capitalisation share award was Friday, 6 October 2006.
AGI ordinary shareholders holding 159 347 263 AGI ordinary shares elected
to receive the capitalisation share award, resulting in the issue of 4
621 070 new shares. Accordingly,
R3 462 544 was paid in respect of a cash capital distribution.
The table below summarises the pro forma financial effects of the capital
distribution and share award on the published reviewed financial results
of the Company for the year ended 30 June 2006. The pro forma
information is the responsibility of the directors. The pro forma net
asset value figures illustrate the possible financial effects if the
capital distribution and share award had been effected on 30 June 2006,
whereas the pro forma earnings figures illustrate the possible financial
effects if the capital distribution and share award had been undertaken
on 1 July 2005. Due to their nature, the pro forma financial effects are
for illustrative purposes only and may not fairly present the financial
position, changes in equity and results of operations or cash flows of
the Company after the capitalisation award:
Before - After - % Change
Reviewed Pro forma
year ended year ended
30 June 2006 30 June 2006
Earnings per ordinary 41,1 40,0 (2,7%)
share (cents)
Headline earnings per 41,1 40,0 (2,7%)
ordinary share (cents)
Weighted average number of 196 061 597 200 682 667 2,4%
ordinary shares in issue
(`000)
Net asset value per 176 170 (3,4%)
ordinary share (cents)
Net tangible asset value 117 112 (4,3%)
per ordinary share (cents)
Closing number of ordinary 197 044 976 201 666 046 2,3%
shares in issue (`000)
Note
* An average interest rate received of 10,5% and an effective company
tax rate of 29% were used in calculating the pro forma effects.
Capital distribution cheques and share certificates in respect of the new
shares were posted to certificated shareholders at their risk and the
Central Securities Depository Participant or broker custody accounts of
dematerialised shareholders were credited on Monday, 16 October 2006.
16 October 2006
Johannesburg
Sponsor
Sasfin Capital
A division of Sasfin Bank Limited
Date: 16/10/2006 02:26:04 PM Produced by the JSE SENS Department
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