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Afe - Aeci - Declaration Of A Capitalisation Award With A Cash Dividend

Release Date: 28/07/2009 07:06:02      Code(s): AFE
AFE - AECI - Declaration of a capitalisation award with a cash dividend         
alternative                                                                     
AECI LIMITED                                                                    
(Incorporated in the Republic of South Africa)                                  
(Registration No. 1924/002590/06)                                               
Share code: AFE     ISIN No.: ZAE000000220                                      
("AECI" or "the Company)                                                        
www.aeci.co.za                                                                  
Declaration of capitalisation award with a cash dividend alternative            
Notice is hereby given that the directors of AECI have resolved to issue fully  
paid ordinary shares in the Company as a capitalisation award to ordinary       
shareholders ("the capitalisation award").                                      
Ordinary shareholders will be entitled as an alternative to the capitalisation  
award, in respect of all or part of their shareholding, to elect to receive a   
cash dividend of 28 cents per ordinary share ("the cash dividend alternative"), 
which will be paid only to those ordinary shareholders who elect in respect of  
all or part of their shareholding, on or before 12:00 on Friday, 2 October 2009,
to receive the cash dividend alternative.  Shareholders not electing to receive 
the cash dividend alternative in respect of all or part of their shareholding   
will, by default, be issued with fully paid ordinary shares in terms of the     
capitalisation award.                                                           
In accordance with the provisions of Strate, the electronic settlement and      
custody system used by the JSE Limited, the relevant dates for the              
capitalisation award/cash dividend alternative are as follows:                  
                                              2009                              
Last day to trade to participate in the                                         
capitalisation award on                        Friday, 25                       
September                         
Shares trade "ex" the capitalisation award on  Monday, 28                       
                                              September                         
Listing of the maximum number of new ordinary                                   
shares that may be taken up in terms of the    Monday, 28                       
capitalisation award on                        September                        
Last day to elect to receive the cash                                           
dividend alternative (by 12:00), failing       Friday, 2 October                
which the capitalisation award will be                                          
received on                                                                     
Record date to participate in the                                               
capitalisation award on                        Friday, 2 October                
Payment of the cash dividend alternative to                                     
shareholders who have elected to receive the                                    
cash dividend in respect of all or part of                                      
their shareholding on                          Monday, 5 October                
New shares issued and posted or participant                                     
or broker accounts credited regarding the                                       
shares to be issued to shareholders who have                                    
not                                                                             
elected to participate in the cash dividend                                     
alternative in respect of all or part of                                        
their shareholding on                          Monday, 5 October                
The maximum number of new shares listed in                                      
terms of the capitalisation award, adjusted                                     
to reflect the actual number of shares issued                                   
in terms of the capitalisation award on or     Tuesday, 6 October               
about                                                                           

Shares may not be dematerialised or rematerialised between Monday, 28 September 
2009 and Friday, 2 October 2009, both days inclusive.                           
The above dates and times are subject to change.  Any changes will be published 
on the Securities Exchange News Service (SENS) and in the press.                
The number of capitalisation shares to which shareholders are entitled will be  
determined in the ratio that 28 cents per ordinary share bears to the 30-day    
volume-weighted average price for the Company`s share, to be determined no later
than Wednesday, 16 September 2009. Details of the ratio will be published on    
SENS no later than Thursday, 17 September 2009 and in the press the following   
business day.                                                                   
Trading in the Strate environment does not permit fractions and fractional      
entitlements. Accordingly, where a shareholder`s entitlement to new ordinary    
shares calculated in accordance with the above formula gives rise to a fraction 
of a new ordinary share, such fraction will be rounded up to the nearest whole  
number, where the fraction is greater than or equal to 0.5 and rounded down to  
the nearest whole number, where the fraction is smaller than 0.5.               
A circular relating to the capitalisation award and the cash dividend           
alternative will be posted to certificated shareholders on or about Monday, 31  
August 2009.                                                                    
Note:  Dematerialised shareholders are required to notify their duly appointed  
participant or broker of their alternative in terms of the capitalisation award 
in the manner and at the time stipulated in the agreement governing the         
relationship between shareholders and their participant or broker.              
By order of the Board                                                           
EA Rea                                                                          
Acting Company secretary                                                        
Woodmead, Sandton                                                               
27 July 2009                                                                    
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 28/07/2009 07:06:02 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             .                  
The SENS service is an information dissemination service administered by the    
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.                                          



                                        
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