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ADVANCE AGTERSKOT PAYMENT AND DIVIDEND DECLARATION
NEW AFRICA INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1993/002467/06)
(Share codes: NAI and NAN)
(ISIN: ZAE000033338 and ZAE000033346)
("NAIL" or the "Group" or the "company")
ADVANCE AGTERSKOT PAYMENT AND DIVIDEND DECLARATION (NO 8)
1. ADVANCE AGTERKSOT PAYMENT
NAIL has received from the South African Revenue Services (“SARS”) an initial portion
of the balance of NAIL’s claim against SARS for income tax overpayments plus interest
and penalties levied thereon (“Tax Overpayment Claim”), which is being distributed to
shareholders as a dividend.
NAIL shareholders are referred to the circular dated 3 April 2009 ("2009 Offer circular"),
wherein Primedia Proprietary Limited and Capricorn Capital Partners Investments
Proprietary Limited ("the Offerors") made an offer to acquire NAIL shares, not already
held by the Offerors ("2009 Offer"). In terms of the 2009 Offer, NAIL shareholders had
the option of accepting the Once-off Offer Consideration of 68 cents per NAIL share or
the Agterskot Offer Consideration which comprised of the Initial Cash Portion of 26 cents
per share plus the Agterskot Amount (which includes the receipt by NAIL of additional
KFM disposal proceeds and the Tax Overpayment Claim proceeds).
Consequently, former NAIL shareholders who accepted the Agterskot Offer Consideration
and sold their shares in terms of the 2009 Offer are now entitled to a third Advance
Agterskot of 9.12053 cents per NAIL share ("the Advance Agterskot Amount"). Payment
of the Advance Agterskot Amount will be made by the Offerors on or about Monday, 20
August 2012 and will be made in the manner as described in paragraph 3.5 of the 2009
Offer Circular.
2. DIVIDEND NUMBER 8
Shareholders are advised that a cash dividend of 9.12053 cents has been declared by NAIL
out of its cash reserves and will be payable to holders of ordinary and N ordinary shares
recorded in the books of the company on Friday, 17 August 2012 as follows:
Last date to trade cum dividend Friday 10 August 2012
First date to trade ex dividend Monday 13 August 2012
Record date Friday 17 August 2012
Payment date Monday 20 August 2012
The shares cannot be dematerialised or rematerialised during the period Monday, 13
August 2012 and Friday, 17 August 2012, both dates inclusive.
The dividend has been declared from income reserves. NAIL has Secondary Tax on
Companies (“STC”) credits available and accordingly has utilised credits of 2.95219 cents
per share in declaring the above dividend. A net dividend of 8.19528 cents per NAIL share
(after consideration of the applicable STC credits and Withholding Tax) will be paid to
local shareholders who are liable for the 15% Withholding Tax on dividends. Those
shareholders who are exempt from paying the new dividend tax will receive 9.12053 cents
per NAIL share.
There is no Withholding Tax on the agterskot payment as this is deemed to be a capital
payment in terms of the 2009 Offer Circular. The issued ordinary share capital as at 26
July 2012 is 4 141 540 and the issued N ordinary share capital as at 26 July 2012 is 122
481 129. Nail’s income tax reference number is 9472/142/71/1
By order of the board
Sandton
26 July 2012
Sponsor
INVESTEC BANK LIMITED
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