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African Oxygen Limited - Capitalisation Share Award And Cash Dividend Option

Release Date: 01/07/2002 08:26:01      Code(s): AFX
AFRICAN OXYGEN LIMITED - CAPITALISATION SHARE AWARD AND CASH DIVIDEND OPTION    
(Incorporated in the Republic of South Africa)                                  
(Registration number 1927/000089/06)                                            
ISIN Code: ZAE000030920                                                         
Namibian Share Code: AOX                                                        
South African Share Code: AFX                                                   
("Afrox" or "the Company")                                                      
CAPITALISATION SHARE AWARD AND CASH DIVIDEND OPTION                             
Further to the interim financial results announcement released on the Stock     
Exchange News Service on Monday, 29 April 2002 and published in the press on    
Tuesday, 30 April 2002, notice is hereby given that an award of new fully       
paid ordinary shares ("the new shares") will be distributed to shareholders     
recorded in the share register of the Company at the close of business on       
Friday, 26 July 2002 ("record date") by way of a capitalisation of              
distributable reserves. The last day to trade for the capitalisation share      
award will be Friday, 19 July 2002 ("CUM" the entitlement).                     
The rounded number of shares to which shareholders will become entitled will    
be determined according to the following formula per share:                     
25,5 cents                                                                      
97,5% of R13,35 which was the ruling price at the close of business on          
Thursday, 27 June 2002                                                          
This equates to 1,95853 new shares for every 100 ordinary shares held.          
Shareholders may elect to decline the capitalisation share award in respect     
of all or part of their shareholding and instead receive the interim cash       
dividend of 25,5 cents (2001: 20,5 cents) for the six month period ended 31     
March 2002.                                                                     
Subject to the approval of the JSE Securities Exchange South Africa ("JSE")     
and the Namibian Stock Exchange ("NSX"), a listing of the maximum number of     
new shares to be issued pursuant to the award will commence on Monday, 22       
July 2002. The new shares may be traded "EX" the entitlement with effect        
from the commencement of business on Monday, 22 July 2002. No                   
dematerialisation or rematerialisation of share certificates may take place     
between Monday, 15 July 2002 and Friday, 26 July 2002, both days inclusive.     
Documentation, subject to the approval of the JSE and NSX, dealing with the     
capitalisation share award and forms of election will be posted to              
shareholders today, 1 July 2002. Forms of election in respect of                
shareholders who have not yet dematerialised their shares ("certificated        
shareholders") who wish to elect to receive the interim cash dividend should    
be received by the transfer secretaries by no later than close of business      
on Wednesday, 24 July 2002 ("the Election Date"). 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 agreement governing the       
relationship between the shareholder and his/her CSDP or broker.                
In respect of dematerialised shareholders, safe custody accounts with the       
CSDP or broker will be credited with the entitlement in respect of the new      
ordinary shares and/or payments will be made on Monday, 29 July 2002.           
Certificated shareholders will have their share certificates or cheques         
posted (or electronically transferred, if so elected) on Monday, 29 July        
2002. A further announcement will be published on Tuesday, 30 July 2002         
detailing the results of the capitalisation share award and cash election.      
Johannesburg                                                                    
1 July 2002                                                                     
Sponsor                                                                         
HSBC                                                                            
Sponsoring broker in Namibia                                                    
HSBC Securities (Namibia) (Pty) Limited                                         
Member Namibian Stock Exchange                                                  
Date: 01/07/2002 08:25:02 AM Produced by the SENS Department                    



                                        
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