| Mon 22 Jan 2007, 10:19 | | FCPD - Compass - Interest Payment Declaration and |
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JSE FCPD
FCPD
FCPD - Compass - Interest Payment Declaration and Cash Election Notice
FOORD COMPASS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/003591/06)
JSE code: FCPD - ISIN: ZAE000054466
("Compass" or "the company")
INTEREST PAYMENT DECLARATION AND CASH ELECTION NOTICE
As published in the Business Day on 22 January 2007 and released on JSE
Limited`s SENS on 19 January 2007, notice is hereby given that a debenture
interest payment (number 39) of 60.404 cents per debenture in respect of the
six months ended 31 December 2006 is payable to debenture holders recorded
in the debenture register of the company on the record date. The last day
to trade in the debentures for purposes of entitlement to the interest
payment will be Friday, 2 February 2007. The debentures will commence
trading ex the interest payment on Monday, 5 February 2007 and the record
date will be Friday, 9 February 2007. The interest will be paid on Monday,
12 February 2007. Debenture certificates may not be dematerialised or
rematerialised between Monday, 5 February 2007 and Friday, 9 February 2007,
both days inclusive.
As provided for in section 6.4 of the Debenture Trust Deed, the board has
resolved that the debenture interest payment will be settled by the issue of
debentures to debenture holders recorded in the debenture register at the
close of business on the record date ("the interest debentures"). The
motivation for this decision is to retain cash and build capital for
debenture holders. Debenture holders may, however, elect to receive a cash
interest payment instead of the interest debentures ("the cash election").
The tax implications of the settlement of the debenture interest payment by
the issue of interest debentures or by the payment of cash should be the
same. However, debenture holders are encouraged to consult their
professional advisors should they be in any doubt as to the appropriate
action to take.
Certificated debenture holders who wish to elect to receive the cash
interest payment in respect of all or a part of their debenture holding,
must complete the relevant Form of Election (sent to debenture holders under
separate cover) in accordance with the instructions therein and return such
election form to the company`s transfer secretaries to be received by no
later than 12:00 on the record date, being Friday, 9 February 2007.
Dematerialised debenture holders who wish to elect to receive the cash
interest payment in respect of all or a part of their debenture holding
must, in terms of the agreement between themselves and their CSDP or broker,
instruct their CSDP or broker accordingly.
If the cash election is not made by dematerialised debenture holders by the
cut-off time stipulated by their CSDP or broker, or by 12:00 on Friday, 9
February 2007 in the case of certificated debenture holders, debenture
holders will be deemed to have elected to receive new fully paid Compass
debentures. As indicated above, the last day to trade in the company`s
debentures on the JSE to ensure a purchaser appears as an owner on the
record date will be Friday, 2 February 2007. The number of interest
debentures to be issued ("the ratio") will be determined with reference to
the weighted average traded price of the debentures on the JSE for the five
trading days ending at the close of business on Thursday, 25 January 2007,
less the interest distribution of 60.404 cents. Debenture holders will be
notified of the ratio on the finalisation date, being Friday, 26 January
2007. Only rounded numbers of interest debentures will be issued based on
conventional rounding principles. No fractions will be paid. The right to
receive interest debentures may not be traded on the JSE.
Application will be made to the JSE Limited for the maximum number of
interest debentures to be issued with effect from the commencement of
business on Monday, 5 February 2007. An adjustment to the number of
interest debentures listed will be made on or about Tuesday, 13 February
2007 in accordance with the actual number of interest debentures issued
having regard to the cash elections made.
Cheques and/or new debenture certificates will be posted by registered post
to certificated debenture holders and the safe custody accounts updated
and/or credited by CSDPs or brokers of dematerialised debenture holders on
or about Monday, 12 February 2007.
Cape Town
22 January 2007
Sponsor:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 22/01/2007 10:19:05 Produced by the JSE SENS Department.
