| Fri 3 Nov 2006, 17:07 | | Matodzi Resources Limited - Cash Payment To Matodz |
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MTZ
MTZ
Matodzi Resources Limited - Cash Payment To Matodzi Shareholders
Matodzi Resources Limited
(Incorporated in the Republic of South Africa)
(Registration number 1933/004523/06)
Share code: MTZ ISIN: ZAE000042412
("Matodzi")
CASH PAYMENT TO MATODZI SHAREHOLDERS
INTRODUCTION
Matodzi shareholders are referred to the announcement published in the press on
Monday, 2 October 2006 in terms of which it was indicated that, at a general
meeting of Matodzi shareholders held on Friday, 29 September 2006 ("the general
meeting"), 100% of Matodzi shareholders, present in person or represented by
proxy at the general meeting, had approved the disposal by Letseng Investment
Holdings South Africa (Proprietary) Limited, a 50%-owned subsidiary of Matodzi,
of its 76% equity interest in Letseng Diamonds (Proprietary) Limited to Gem
Diamond Mining Company of Africa Limited for a purchase consideration of R879.5
million ("the Letseng disposal") and that the Letseng disposal had become
unconditional.
Matodzi shareholders are further referred to the circular issued to Matodzi
shareholders on Thursday, 14 September 2006 relating to the Letseng disposal, in
terms of which it was stated that the board of directors of Matodzi ("the
Matodzi board") intends utilising the net proceeds received by Matodzi from the
Letseng disposal to settle Matodzi"s long-term debt and thereafter to pay a
substantial portion of the remaining proceeds to Matodzi shareholders.
THE CASH PAYMENT
The Matodzi board has resolved to make a total cash payment in terms of section
90 of the Companies Act, 1973 (Act 61 of 1973), as amended, by way of a special
dividend of R281 615 937, comprising 76 cents per Matodzi share, to Matodzi
shareholders recorded in the register of Matodzi shareholders at the close
of business on Friday, 24 November 2006 ("the record date") ("the cash
payment").
SALIENT DATES
The salient dates for the cash payment are set out in the table below:
2006
Last day to trade in order to receive Friday, 17 November
the cash payment
Matodzi shares trade "ex" the cash Monday, 20 November
payment
Record date to receive the cash payment Friday, 24 November
Safe custody accounts to be updated by Monday, 27 November
the CSDP or broker in respect of
shareholders holding dematerialised
Matodzi shares
Cash payment transferred or posted to Monday, 27 November
certificated Matodzi shareholders
Share certificates may not be dematerialised or rematerialised between Monday,
20 November 2006 and Friday, 24 November 2006, both days inclusive.
The above dates and times are subject to change. Any such changes to the above
dates and times will be released on the Securities Exchange News Service of the
JSE Limited and published in the press.
Sandton
3 November 2006
Corporate Advisor
T-Corp
Sponsor
Sasfin Capital
Date: 03/11/2006 05:08:10 PM Produced by the JSE SENS Department
