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NWL
NWL
NWL - Nu-World - Results of annual general meeting and capital distribution
NU-WORLD HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration No. 1968/002490/06)
Share Code: NWL & ISIN code: ZAE000005070
("Nu-World" or "the company")
RESULTS OF ANNUAL GENERAL MEETING AND CAPITAL DISTRIBUTION
RESULTS OF ANNUAL GENERAL MEETING
Shareholders are advised that all of the ordinary resolution and special
resolution proposed at the Annual General Meeting of Nu-World held on
Wednesday, 23 January 2007 ("the AGM") were passed by the requisite
majorities of shareholders present or represented by proxy at the AGM. The
special resolution will be submitted for registration at the Companies and
Intellectual Property Registration office in due course.
Capital distribution
As announced on SENS on 24 October 2006, the Board has resolved to make a
distribution to ordinary shareholders from the Company`s share premium
account amounting to 120,8 cents per ordinary share ("the capital
distribution")
Notice is hereby given that the board of directors ("the board") has
resolved to distribute to ordinary shareholders a portion of the share
premium account in lieu of a dividend to ordinary shareholders of the
Company. The capital distribution will be paid in terms of a general
authority to make such payments granted to the board by shareholders at the
Company`s AGM held on Wednesday, 24 January 2007. The capital distribution
will amount to 120.8 cents per ordinary share, based on a reduction to
share premium of R27,356,929.
The following salient dates will be applicable:
Last date to trade "cum" the capital distribution Friday, 2 February 2007
Trading commences "ex" the capital distribution Monday, 5 February 2007
Record date Friday, 9 February 2007
Date of payment Monday, 12 February 2007
Share certificates may not be dematerialised or rematerialised between
Monday, 5 February 2007 and Friday, 9 February 2007, both dates inclusive.
Financial effects
The table below illustrates the effect of the capital distribution on the
earnings and net asset value per Nu-World ordinary share and is based on
the audited results for the year ended 31 August 2006. These financial
effects which have been reviewed by the Company`s auditors, Tuffias
Sandberg KSi, are prepared for illustrative purposes only, are the
responsibility of the Board, and because of their nature, may not give a
true indication of the Company`s financial position and results of
operations.
Before After Change
(cents) (cents) (%)
Earnings per share (cents) 378.3 372.1 (1.6)
Headline earnings per share (cents) 378.3 372.1 (1.6)
Net asset value per share (cents) 2 238.0 2 105.6 (5.9)
Net tangible asset value per share (cents) 2 081.9 1 949.5 (6.4)
Notes to the financial effects:
It is assumed that the capital distribution had been paid to shareholders
on 1 September 2005; and based on a reduction of R27,356,929 and an after
tax interest rate earned on cash resources of 4,9%.
By the order of the Board
Johannesburg
24 January 2007
Sponsor
Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 24/01/2007 13:08:01 Produced by the JSE SENS Department.
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