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PPC - RESULTS OF THE CAPITALISATION SHARE AWARD & RIGHT OF ELECTION

Release Date: 13/01/1999 14:49
Code(s): PPC
Wrap Text
PRETORIA PORTLAND CEMENT COMPANY LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
REGISTRATION NUMBER 01/00667/06
("THE COMPANY")

RESULTS OF THE CAPITALISATION SHARE AWARD AND THE RIGHT OF ELECTION TO RENOUNCE THE CAPITALISATION SHARE AWARD IN FAVOUR OF BARLOW LIMITED
THE ENTITLEMENT TO RENOUNCE THE CAPITALISATION SHARE AWARD IN FAVOUR OF BARLOW LIMITED, INSTEAD OF TO RECEIVE THE AWARD OF CAPITALISATION SHARES MADE TO ORDINARY SHAREHOLDERS REGISTERED AT THE CLOSE OF BUSINESS ON FRIDAY, 27 NOVEMBER 1998, DETERMINED BY THE RATIO THAT 230 CENTS BORE TO THE PRICE OF THE COMPANY'S SHARES AT THE CLOSE OF BUSINESS ON THE JOHANNESBURG STOCK EXCHANGE ("THE JSE") ON WEDNESDAY, 6 JANUARY 1999 AVERAGED WITH THE CLOSING PRICES FOR THE THREE PRIOR TRADING DAYS ("THE CLOSING PRICE" 3 712,5 CENTS) FOR EVERY SHARE HELD, CLOSED AT 12H00 ON WEDNESDAY, 6 JANUARY 1999.
ELECTIONS TO RENOUNCE THE CAPITALISATION SHARE AWARD WERE MADE IN RESPECT OF 12 469 843 SHARES. ACCORDINGLY, 2 915 852 NEW ORDINARY SHARES HAVE BEEN ALLOTTED TO BARLOW LIMITED IN TERMS OF THE CAPITALISATION SHARE AWARD. FOLLOWING THE ISSUE OF THE CAPITALISATION SHARES, THE ISSUED ORDINARY SHARE CAPITAL OF THE COMPANY WILL CONSIST OF 49 981 512 SHARES OF ONE RAND EACH. SHAREHOLDERS HOLDING 73,51% OF THE ORDINARY SHARE CAPITAL HAVE BEEN ALLOTTED NEW ORDINARY SHARES AND SHAREHOLDERS HOLDING 26,49% HAVE ELECTED TO RENOUNCE THEIR
ENTITLEMENT TO THE CAPITALISATION SHARE AWARD IN FAVOUR OF BARLOW LIMITED. LISTING OF NEW ORDINARY SHARES
THE LISTING OF THE 2 915 852 NEW ORDINARY SHARES IN THE COMPANY WILL COMMENCE ON THE JSE FROM THE COMMENCEMENT OF BUSINESS ON THURSDAY, 14 JANUARY 1999. POSTING OF SHARE CERTIFICATES AND FRACTION CHEQUES
SHARE CERTIFICATES IN RESPECT OF CAPITALISATION SHARES AND FRACTION CHEQUES WILL BE POSTED TO SHAREHOLDERS ON OR ABOUT THURSDAY, 14 JANUARY 1999. JOHANNESBURG 13 JANUARY 1999 SPONSORING BROKER CAZENOVE SOUTH AFRICA (PTY) LIMITED REGISTRATION NUMBER 98/11736/07 (MEMBER OF THE JOHANNESBURG STOCK EXCHANGE)

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