CROOKES BROTHERS LIMITED - Cash dividedend with capitalisation award alternative

Cash dividedend with capitalisation award alternative

CROOKES BROTHERS LIMITED
Registration No. 1913/000290/06
Share code : CKS     ISIN: ZAE000001434
(“Crookes” or “the Company”)


ANNOUNCEMENT REGARDING THE RATIO WITH RESPECT TO THE ELECTION
OF CAPITALISATION SHARES IN LIEU OF A CASH DIVIDEND;
POSTING OF CAPITALISATION AWARD CIRCULAR AND SALIENT DATES


Crookes ordinary shareholders (“Shareholders”) are referred to
the Company`s audited results for the year ended 31 March
2013, as released on SENS on 28 May 2013 in which Shareholders
were notified of the payment of a final gross cash dividend of
160 cents per ordinary share (“the Cash Dividend”) to
Shareholders recorded in the register of the Company at the
close of business on Friday, 5 July 2013. Shareholders were
given an option to elect to receive capitalisation shares
(“Capitalisation Award Alternative”) (“Capitalisation Shares)
in lieu of the Cash Dividend.


Where a Shareholder elects to receive Capitalisation Shares,
the number of ordinary shares to which a Shareholder will be
entitled in terms of the Capitalisation Award Alternative will
be 2.90909 new ordinary shares for every 100 ordinary shares
held. This ratio is arrived at by dividing 160 cents per
ordinary share by 5 500 cents, being    the prevailing price per
ordinary share on Friday, 24 May 2013 at the time the Board
made the decision to fix the price     and is calculated to five
decimal places.


Trading in the Strate Limited environment does not permit
fractions and fractional entitlements. Accordingly, where a
Shareholder’s entitlement to new ordinary shares, calculated
in accordance with the above ratio, gives rise to a fraction
of a new ordinary share, such fraction of a new Ordinary Share
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 less than 0.5.


Example of calculation of the Capitalisation Issue
entitlement:



    Crookes                 Number of Crookes ordinary
    entitlement =           shares held on the record
                            date x 160 cents divided by 5 500 cents

                                          
    = 2.90909 new ordinary shares for every 100 ordinary
    shares held.


Shareholders who wish to receive the Capitalisation Award
Alternative in respect of all or part of their shareholding
must elect to do so in accordance with the provisions of the
Circular and form of election which was posted to Shareholders
today, 20 June 2013.


Posting of the circular
Shareholders are further referred to the Circular to
Shareholders issued today, 20 June 2013 which will include the
full details of the Cash Dividend and the capitalisation award
alternative (“the Circular”).


SALIENT DATES


Salient dates and times                                   2013


Last day to trade in                            Friday, 5 July
order to participate in
the cash or
Capitalisation Award
Alternative

Shares trade ex-cash
entitlement and                                  Monday, 8 July
Capitalisation Award
Alternative and trade
in entitlement shares
commences

Maximum number of                               Monday, 8 July
ordinary shares listed
from commencement of
business on

Last day to elect the                          Friday, 12 July
Capitalisation Award
Alternative instead of
the cash dividend at
12h00 on

Record date                                    Friday, 12 July

Share certificates or
dividend cheques posted                        Monday, 15 July
and CSDP accounts
credited/updated

Announcement on SENS of
the results of the
Capitalisation Award
Alternative with respect                       Monday, 15 July
to the election for
Capitalisation shares in
lieu of a cash dividend

Announcement in the
press of the results of
the Capitalisation Award
Alternative with respect                      Tuesday, 16 July
to the election for
Capitalisation shares in
lieu of a cash dividend

Adjustment of number of                       Tuesday, 16 July
ordinary shares listed
on or about



Johannesburg
20 June 2013

Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)

Date: 20/06/2013 11:49:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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