AFRICAN BANK INVESTMENTS LIMITED - Ratio Applicable To Capitalisation Share Election

Ratio Applicable To Capitalisation Share Election

AFRICAN BANK INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1946/021193/06
Ordinary share code: ABL and ISIN: ZAE000030060
Preference share code: ABLP and ISIN: ZAE000065215
("ABIL" or “the Company”)

RATIO APPLICABLE TO CAPITALISATION SHARE ELECTION

Shareholders are referred to the Company’s reviewed annual
financial results for the year ended 30 September 2012, published
on SENS on 19 November 2012 and in the press on 20 November 2012,
and to the announcement on SENS on Friday, 23 November 2012
regarding the posting of a circular relating to the Company’s
declaration of a final gross cash dividend of 110 cents per
ordinary share with the right to elect to receive fully paid
ordinary shares with a par value of 2,5 cents in ABIL
(“Capitalisation Shares”), in respect of all or part of their
ordinary shareholding instead of the Cash Dividend
(“Capitalisation Issue”).


The number of Capitalisation Shares to which Shareholders will
become entitled pursuant to the Capitalisation Issue (should they
so elect) will be determined by the ratio that 110 cents bears to
3176,33719 cents, representing the volume weighted average price
(“VWAP”) of an ordinary ABIL share traded on the JSE during the
nine-day trading period ending on Thursday, 29 November 2012. The
ratio of Capitalisation Shares that may be applied for in terms of
the Capitalisation Issue is therefore 3,46311 Capitalisation
Shares for every 100 ordinary shares held on the Record Date,
being Friday, 14 December 2012 (“the Record Date”).

If the application of this ratio gives rise to a fraction of an
ordinary share, no fractional entitlement shall arise and the
result of such calculation 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 (the “Rounding Provision”).

Example of Capitalisation Issue entitlement:

This example assumes that a Shareholder holds 100 ordinary shares
at the close of business on the Record Date and elects to receive
the Capitalisation Shares for all of such ordinary shares.

New ordinary share entitlement =

100 x 110 ZAR cents
    3176,33719 ZAR cents

= 3,46311
(then apply the Rounding Provision described above)

=    3 Capitalisation Shares per 100 ordinary shares held.



Johannesburg
30 November 2012

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Attorneys
Prinsloo, Tindle, Andropoulos Inc.


 

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