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African Oxygen Limited - Capitalisation Share Award And Cash Dividend Option

Release Date: 04/12/2002 08:45:23      Code(s): AFX
African Oxygen Limited - Capitalisation Share Award And Cash Dividend Option    
AFRICAN OXYGEN LIMITED                                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number 1927/000089/06)                                            
ISIN Code : ZAE000030920                                                        
South African Share Code : AFX                                                  
Namibian Share Code : AOX                                                       
("Afrox" or "the Company")                                                      
Further to the financial results announcement released on the Stock Exchange    
News Service on Thursday, 31 October 2002 and published in the press on Friday, 
1 November 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, 24 January    
2003 ("record date") by way of a capitalisation of distributable reserves.      
Shareholders may elect to decline the capitalisation share award in respect of  
all or part of their shareholding and instead receive the final cash dividend of
37 cents per share (2001: 31,5 cents) for the year ended 30 September 2002. The 
last day to trade for the capitalisation share award will be Friday, 17 January 
2003 ("CUM" the entitlement).  The shares will trade "EX" entitlement with      
effect from the commencement of business on Monday, 20 January 2003.  No        
dematerialisation or rematerialisation of share certificates may take place     
between Monday, 20 January 2003 and Friday, 24 January 2003, both days          
The rounded number of shares to which shareholders will become entitled will be 
determined according to the following formula per share:                        
37 cents                                                                        
97,5% of the ruling price at the close of business on Thursday, 9 January 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, 20 January   
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 
on or about 3 January 2003. Forms of election in respect of shareholders who    
have not yet dematerialised their shares ("certificated shareholders") who wish 
to elect to receive the final cash dividend should be received by the transfer  
secretaries by 16:00 on Friday, 24 January 2003 ("the Election Date"). Where    
shareholders have dematerialised their share certificates, they 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, 27 January 2003. Certificated    
shareholders will have their share certificates or cheques posted (or           
electronically transferred, if so elected) on Monday, 27 January 2003. A further
announcement will be published on Tuesday, 28 January 2003 detailing the results
of the capitalisation share award and cash election.                            
3 December 2002                                                                 
Sponsor in South Africa          Sponsoring broker in Namibia                   
HSBC                             HSBC Securities (Namibia) (Pty) Limited        
                                 Member of the Namibian Stock Exchange          
Date: 04/12/2002 08:45:20 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             

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