| Fri 2 Mar 2007, 12:59 | | AMS/ AMSP - Anglo Platinum Limited - Dividend Re-i |
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AMS AMSP
ANANP
AMS/ AMSP - Anglo Platinum Limited - Dividend Re-investment Election
Anglo Platinum Limited
("Anglo Platinum" or "the company")
Incorporated in the Republic of South Africa
Registration number: 1946/022452/06
JSE ordinary share code: AMS
ISIN code: ZAE000013181
JSE preference share code: AMSP
ISIN code: ZAE000054474
Dividend Re-investment Election
1. Introduction
Shareholders were advised on Monday, 12 February 2007 that the board of
directors of the company had declared a final dividend of 3900 cents per
ordinary share in respect of the financial year ended 31 December 2006
("the cash dividend") and proposed that ordinary shareholders be given the
option to elect to use 50% of the proceeds of the cash dividend ("the re-
investment election") to subscribe for new ordinary shares in Anglo
Platinum ("the subscription shares"). A circular dealing with the re-
investment election was posted to shareholders on Monday, 12 February 2007.
2. Terms of the dividend re-investment election
Ordinary shareholders recorded in the register of Anglo Platinum at the
close of business on Friday, 16 March 2007 who elect to re-invest 50% of
the cash dividend in respect of part of their shareholding to subscribe for
the subscription shares will receive new ordinary shares determined with
reference to the issue price. The issue price has been determined as
R1,006.56851, being the weighted average traded price of the ordinary
shares of the company on the JSE Limited ("JSE") for the five business days
ended Thursday, 1 March 2007 less 3900 cents per ordinary share (the amount
of the cash dividend per ordinary share). The number of subscription
shares to which shareholders are entitled will be 1.93727 new Anglo
Platinum ordinary shares for every 100 Anglo Platinum ordinary shares held
on the record date.
Ordinary shareholders are reminded that only whole shares will be allotted
and issued. To the extent that the proceeds of the cash dividend if
applied in subscribing for new shares would result in fractions of shares,
such fraction will be rounded up to the nearest whole number where the
fraction of a new ordinary share is greater than or equal to 0.5 and will
be rounded down to the nearest whole number where such fraction is less
than 0.5. To the extent that a fraction of a share is rounded up, the
subscription amount will exceed 50% of the cash dividend. This excess will
be deducted from the cash portion of the dividend due to such shareholder.
To the extent that a fraction is rounded down, the remaining portion of the
50% in respect of which the ordinary shareholder has elected to apply for
subscription shares will be added to the cash portion due to such
shareholder. Entitlements will be posted on or about Monday, 19 March 2007
in respect of certificated shareholders and dematerialised shareholders
will have their accounts at their Central Securities Depository Participant
("CSDP") or broker credited on Monday, 19 March 2007.
3. Considerations applicable to holders of the convertible perpetual
cumulative preference shares ("convertible preference shares")
3.1 The re-investment election is not available to holders of convertible
preference shares.
3.2 In accordance with the terms of the allotment and issue of the
convertible preference shares it is necessary for the conversion ratio
applicable to the convertible preference shares to be adjusted under
the circumstances where Anglo Platinum`s dividend cover for that
financial year, is less than 1.4 times.
As the dividend cover in respect of the 2006 dividends is less than
1.4 times, it is necessary to adjust the conversion price to be used
when convertible preference shares are converted into ordinary shares.
Currently the conversion price is R288.43 or 34.6703 ordinary shares
for each 100 convertible preference shares converted. The revised
ratio will be published on SENS and in the press once this has been
determined.
3.3 In accordance with the rights and privileges applicable to the
convertible preference shares, the conversion date specified in any
conversion notice received by the company shall not be within the
period on or after the finalisation date of any corporate action
affecting the ordinary shares, up to the record date in accordance
with the applicable procedures in respect of such corporate action.
Therefore no conversions of convertible preference shares may take
place during the period between Monday 12 February 2007 and Friday, 16
March 2007, both dates inclusive.
In respect of conversion notices dated on or before Monday 12 February
2007, wherein conversion dates have been specified which fall within the
afore-mentioned period, such conversion dates will be deemed to be the
first business day following the record date, being Monday, 19 March 2007.
4. Salient dates and times
2007
Finalisation date for the dividend re- Friday 2 March
investment election
Last day to trade to receive the cash Friday, 9 March
dividend and to be entitled to the re-
investment election
Ordinary shares trade "ex" dividend and Monday, 12 March
re-investment election
Maximum number of new ordinary shares Monday, 12 March
listed on the JSE in respect of the re-
investment election
Election period closes for holders on Wednesday, 14 March
the UK register at 10:00 (UK time)
Election period closes for holders on Friday, 16 March
the SA register at 12:00 (SA time)
(see 5 below) on
Record date to receive the cash dividend Friday, 16 March
and entitlement to the re-investment
election
Dividend cheques and, where applicable, Monday, 19 March
share certificates posted to
certificated shareholders
Safe custody accounts with the CSDP or Monday, 19 March
broker credited and/or updated
Results announcement published on SENS Monday, 19 March
Results announcement published in the Tuesday, 20 March
press
Adjusted number of new ordinary shares Tuesday, 20 March
listed on the JSE on or about
5. Strate requirements
No dematerialisation or rematerialisation of share certificates may take
place between Monday, 12 March 2007 and Friday, 16 March 2007, both days
inclusive.
Dematerialised ordinary shareholders are required to notify their duly
appointed CSDP or broker of their acceptance of the offer in the manner and
time stipulated in the agreement governing the relationship between the
shareholder and his/her CSDP or broker.
Johannesburg
2 March 2007
Sponsor
Merrill Lynch South Africa (Pty) Limited
Date: 02/03/2007 12:59:57 Produced by the JSE SENS Department.
