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African Oxygen Limited - Capitalisation Share Award And Cash Dividend Option

Release Date: 23/06/2003 17:15:02      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")                                                      
Capitalisation Share Award and Cash Dividend Option                             
Further to the interim financial results announcement released on the Stock     
Exchange News Services and published in the press on 5 May 2003, 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 Friday, 25 July 2003 ("the record date") by way of a   
capitalisation of distributable reserves. The last day to trade for the         
capitalisation share award will be Friday, 18 July 2003 ("CUM" the entitlement).
The rounded number of shares to which shareholders will become entitled will be 
determined according to the following formula per share:                        
Capitalisation share entitlement = number of shares held on the record date X 33
cents/97.5% of R14.50, which was the ruling price at the close of business on   
the JSE on Thursday, 19 June 2003.                                              
This equates to 2,33422 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 33 cents (2002: 25,5 cents) for the six months period ended 31 March 2003.   
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, 21 July 2003.
The new shares will trade "EX" the entitlement with effect from the commencement
of business on Monday, 21 July 2003. No dematerialisation or rematerialisation  
of share certificates may take place between Monday, 21 July 2003 and Friday, 25
July 2003, 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.                                           
Forms of election in respect of shareholders who have not yet dematerialised    
their shares ("certificated shareholders") and who wish to elect to receive the 
interim cash dividend must be received by the transfer secretaries by no later  
than 12:00 on Friday, 25 July 2003 ("the election date").                       
Shareholders who have dematerialised their shares are required to notify their  
duly appointed Central Securities Depository Participant (CSDP) or brokers 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(s) or brokers  
will be updated with the entitlement in respect of the new ordinary shares      
and/or payments will be credited to their accounts at their CSDP or broker on   
Monday, 28 July 2003.                                                           
Certificated shareholders will have their share certificates or cheques posted  
(or cash electronically transferred, if so elected) on Monday, 28 July 2003. A  
further announcement will be published on Tuesday, 29 July 2003, detailing the  
results of the capitalisation share award and cash election.                    
23 June 2003                                                                    
Date: 23/06/2003 05:15:04 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             

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