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African Oxygen Limited - Announcement

Release Date: 28/07/2003 17:30:36      Code(s): AFX
African Oxygen Limited - Announcement                                           
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")                                                     
Results of Capitalisation Share Award and Right of Election to Receive the      
Interim Cash Dividend of 33 cents per Share in lieu thereof                     
Nedbank Corporate is authorised to announce that the right of shareholders      
recorded in the share register of Afrox at the close of business on Friday, 25  
July 2003 to elect to receive the interim cash dividend of 33 cents per ordinary
share instead of the award of capitalisation shares of 2,33422 for every 100    
existing shares held ("the new ordinary shares"), closed on Friday, 25 July     
Elections to receive the interim cash dividend of 33 cents per ordinary share   
were made in respect of 72 006 065 ordinary shares resulting in a total dividend
payment of R 23 762 001.45. Accordingly, 6 177 958 new ordinary shares out of a 
maximum of 7 858 738 new ordinary shares are to be issued pursuant to the       
capitalisation share award, being a 78.6% acceptance of such award. Following   
the issue of the new ordinary shares, the issued ordinary share capital of Afrox
will consist of 342 853 084 ordinary shares of 5 cents each.                    
Listing of new ordinary shares                                                  
The listing of 6 177 958 new ordinary shares in Afrox will commence on the JSE  
Securities Exchange South Africa and the Namibian Stock Exchange with effect    
from the commencement of business on or about Wednesday, 30 July 2003.          
Issue of shares and payment of interim cash dividend                            
In respect of dematerialised shareholders, safe custody accounts with Central   
Securities Depository Participants or brokers were updated and credited with the
entitlement in respect of the new ordinary shares and / or payments on Monday,  
28 July 2003. Certificated shareholders" share certificates or cheques were     
posted (or cash electronically transferred, if so elected) on Monday, 28 July   
28 July 2003                                                                    
Nedbank Corporate                                                               
Date: 28/07/2003 05:30:39 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             

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