| Thu 22 Mar 2007, 10:45 | | NED - Nedbank Group - Capitalisation award with a |
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NED
NED
NED - Nedbank Group - Capitalisation award with a cash dividend
Nedbank Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1966/010630/06)
Share Code JSE: NED Share Code NSX: NBK
ISIN Code: ZAE000004875
(`Nedbank Group` or `the Company`)
CAPITALISATION AWARD WITH A CASH DIVIDEND TO BE PAID TO SHAREHOLDERS NOT
ELECTING TO RECEIVE CAPITALISATION AWARD SHARES
Further to the announcement of the Company`s annual results for the year ended
31 December 2006 published on the Securities Exchange News Service (`SENS`) on
22 February 2007, notice is hereby given that an award of new fully paid
ordinary shares (`the new shares`) will be distributed to shareholders recorded
in the register of the Company at the close of business on Thursday, 5 April
2007 (`the record date`). In terms of the announcement, shareholders will be
entitled, in respect of all or part of their shareholding, to elect to
participate in the capitalisation award failing which they will receive the cash
dividend alternative (284 cents per ordinary share that will be paid to those
shareholders not electing to participate in the capitalisation award). The last
day to trade to participate in the capitalisation award or the cash dividend
alternative will be Thursday, 29 March 2007.
The number of shares to which shareholders wishing to participate in the
capitalisation award will become entitled will be determined in the ratio that
284 cents per ordinary share bears to R135.10, being the 30-day volume-weighted
average traded price of Nedbank Group ordinary shares on the JSE Limited (`JSE`)
as at the close of business on Tuesday, 20 March 2007 (`VWAP`), the formula
being:
Capitalisation share entitlement = (number of shares held on the record date x
284 cents) / (VWAP of R135.10)
This equates to 2.10215 new Nedbank Group ordinary shares for every 100 Nedbank
Group ordinary shares held. Shareholders wishing to participate in the
capitalisation award in respect of all or part of their shareholding must elect
to do so. Subject to the approval of the JSE, a listing of the maximum number
of new shares to be issued pursuant to the capitalisation award will commence on
Friday, 30 March 2007. The new shares will trade `ex` the entitlement with
effect from the commencement of business on Friday, 30 March 2007. Shares may
not be dematerialised or rematerialised between Friday, 30 March 2007 and
Thursday, 5 April 2007, both days inclusive. A circular (including a form of
election) dealing with the capitalisation award was posted to shareholders on
Wednesday, 14 March 2007.
Forms of election in respect of shareholders who have not yet dematerialised
their shares (`certificated shareholders`) and who wish to elect to participate
in the capitalisation award must be received by the transfer secretaries in
South Africa, Computershare Investor Services 2004 (Proprietary) Limited, 70
Marshall Street, Johannesburg, 2001 (PO Box 61763, Marshalltown, 2107) or the
transfer secretaries in Namibia, Transfer Secretaries (Proprietary) Limited,
Shop 8, Kaiserkrone Centre, Post Street Mall, Windhoek, Namibia (PO Box 2401,
Windhoek, Namibia) by no later than 12h00 on Thursday, 5 April 2007.
Shareholders who have dematerialised their shares are required to notify their
duly appointed Central Securities Depository Participant (`CSDP`) or broker of
their election in the manner and time stipulated in the custody agreement
governing the relationship between the shareholder and their CSDP or broker. In
respect of dematerialised shareholders, safe custody accounts with the CSDP or
broker will be updated with the entitlement in respect of the new ordinary
shares and /or payments will be credited to their CSDP or broker accounts on
Tuesday, 10 April 2007.
Certificated shares and cheques will be posted by registered post and ordinary
post respectively to certificated shareholders at their risk on or about
Tuesday, 10 April 2007. A further announcement will be published on SENS and in
the press on or about Tuesday, 10 April 2007, detailing the results of the
capitalisation award and the cash dividend alternative.
Johannesburg
22 March 2007
Investment bank, corporate adviser and sponsor
Nedbank Capital
Independent lead sponsor
Merrill Lynch
Sponsoring broker in Namibia
Old Mutual
Date: 22/03/2007 10:45:34 Produced by the JSE SENS Department.
