| Thu 9 Nov 2006, 14:34 | | AMAP - No change statement and notice of AGM distr |
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AMA
AMA
AMAP - No change statement and notice of AGM distribution out of share premium
Amalgamated Appliance Holdings Limited
Incorporated in the Republic of South Africa
Registration number 1997/004130/06
Share code: AMA & ISIN: ZAE000012647
("AMAP" or "the company")
NO CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETING
DISTRIBUTION OUT OF SHARE PREMIUM
1. No change statement and notice of annual general meeting
Shareholders are advised that the annual financial statements for the year ended
30 June 2006 were posted on 8 November 2006, and contain no material
modifications to the reviewed results which were published on SENS on 22 August
2006.
Notice is hereby given that the annual general meeting of AMAP
shareholders will be held at 3A Eton Road, Parktown, Johannesburg at 14:30 on
Thursday, 30 November 2006 to transact business as stated in the notice of the
annual general meeting, which was issued together with the annual report
containing the annual financial statements of AMAP for the year ended 30 June
2006.
2. Distribution out of share premium
In the reviewed results published on SENS on 22 August 2006, shareholders were
notified that the board had resolved to declare a distribution to shareholders
by way of a capital distribution out of share premium of 20 cents per share
("the distribution"). The details concerning the distribution are contained in
the notice of annual general meeting, which was issued together with the annual
financial statements.
Set out in the table below are the pro forma financial effects of the
distribution on the company"s earnings per share, headline earnings per share,
net asset value per share and net tangible asset value per share based on the
company"s audited financial results for the year ended 30 June 2006. The pro
forma financial effects have been prepared for illustrative effects only and
because of their nature they may not give a true reflection of the company"s
financial position or results after the distribution. The pro forma financial
effects are the responsibility of the company"s directors.
Before the After the Percentage
distribution distribution change
Earnings per share (cents) 62,7 61,2 (2,4%)
Headline earnings
per share (cents) 63,9 62,4 (2,3%)
Weighted average number
of shares in issue (`000) 206 561 206 561 -
Net asset value per share (cents) 244 224 (8,2%)
Net tangible asset value
per share (cents) 240 220 (8,3%)
Number of shares in issue (`000) 212 190 212 190 -
Notes
1. Extracted from the audited financial results for the year ended 30 June 2006.
2. The earnings and headline earnings per share figures in the "After the
distribution" column have been based on the following assumptions:
the distribution was made on 1 July 2005; and
interest (notional) has been foregone at 7.23% per annum, which reflects the
group"s average overdraft rate for the year.
No tax relief is due on the borrowings to settle payments of a capital nature.
3. The net asset value and net tangible asset value per share figures in the
"After the distribution" column have been based on the assumption that the
distribution was made on 30 June 2006.
Shareholders will be asked to consider and, if deemed fit, approve the
distribution at the annual general meeting. Set out below are the salient dates
and times pertaining to the distribution, assuming that it is approved by
shareholders at the annual general meeting:
2006
Notice of annual general meeting posted to
shareholders on Wednesday, 8 November
Proxy forms for the annual general meeting
to be received not later than 14:30 on Tuesday, 28 November
Annual general meeting to be held at 14:30 on Thursday, 30 November
Results of annual general meeting released
on SENS on Thursday, 30 November
Results of annual general meeting published
in the press on Friday, 1 December
Last day to trade in order to participate in
the distribution on Friday, 15 December
Trading commences ex-distribution on Monday, 18 December
Record date on Friday, 22 December
Payment date on Wednesday, 27 December
Share certificates may not be dematerialised or rematerialised between Monday,
18 December 2006 and Friday, 22 December 2006, both days inclusive.
Johannesburg
9 November 2006
Sponsor
Bridge Capital
Date: 09/11/2006 02:34:11 PM Produced by the JSE SENS Department
