OAO - Oando Plc - Recommendation of final dividend number 17 and bonus issue of Release Date: 22/04/2008 15:26:01 Code(s): OAO
OAO - Oando Plc - Recommendation of final dividend number 17 and bonus issue of
(Incorporated in Nigeria and registered as
an external company in South Africa)
Registration number RC6474
(External company registration number 2005/038824/10)
Share code on the JSE Limited: OAO JSE Code NG00000UNTPO
Share code on the Nigerian Stock Exchange: UNTP
("Oando" or "the Company")
Recommendation of final dividend number 17 and bonus issue of ordinary shares
Dividend and bonus issue
The directors of Oando have recommended a final dividend of Six Naira (N6.00)
per ordinary share of fifty kobo and bonus shares at the rate of one ordinary
share of fifty kobo for every five ordinary shares of fifty kobo each held
(2006: Naira 4.00 per ordinary share) for the twelve months to 31 December 2007.
The dividend has been recommended and will be declared in Naira, the currency of
Nigeria. Both the dividend and the bonus issue are subject to the approval of
shareholders at the Annual General Meeting to be held on 27 May 2008.
The salient dates are:
Currency conversion at 11:00 South African time on Monday, 21 April 2008
Last day for trading to qualify for and participate Wednesday 30 April 2008
in the dividend (cum dividend)and Bonus issue in
Trading ex dividend & bonus issue in South Africa Monday, 5 May 2008
Transfers between the Nigerian Register and the 5 May to 16 May 2008
South African Register closed
Record date in South Africa Friday, 9 May 2008
Record date in Nigeria Friday, 9 May 2008
Register of members and Transfer Books closed in 12 May - 16 May 2008
Annual general meeting Tuesday, 27 May 2008
Announcement released confirming the dividend has Wednesday 28 May 2008
been declared and the bonus issue is unconditional
Dividend payment date in Nigeria Friday, 30 May 2008
Dividend payment date in South Africa Wednesday, 4 June 2008
(electronic and certificated register)
Accounts with CSDPs and brokers credited in South Friday 6 June 2008
Africa or issue of new share certificates re the
bonus issue effected
On Wednesday, 4 June 2008, dividends due to certificated shareholders on the
South African registry will either be electronically transferred to
shareholders` bank accounts or, in the absence of suitable mandates, dividend
cheques will be posted to such shareholders.
Shareholders who hold dematerialised shares will have their accounts, at their
Central Securities Depository Participant or broker credited on Wednesday, 4
June 2008 in respect of the dividend and on Friday 6 June 2008 in respect of the
bonus issue. Share certificates may not be dematerialised or rematerialised
between Monday 5 May 2008 and Friday 9 May 2008 both days inclusive.
The currency conversion at 11:00 South African time on 21 April 2008 was 1 Rand
= Naira 15.157. Accordingly, the dividend of Six Naira (N6.00) per ordinary
share equates to 39.6 cents per ordinary share.
Shareholders are advised that a withholding tax of 10% is payable by all
shareholders on the dividend. Accordingly the dividend net of withholding tax is
Five Naira Forty Kobo (N5.40) (35.64 cents per ordinary share).
22 April 2008
Deutsche Securities (SA) (Proprietary) Limited
Date: 22/04/2008 15:26:00 Supplied by www.sharenet.co.za
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