To view the PDF file, sign up for a MySharenet subscription.

STEINHOFF: TERMS OF CAPITALISATION SHARE AWARD AND ELECTION TO RECEIVE A

Release Date: 28/09/2001 07:07
Code(s): SHF
Wrap Text
CASH DIVIDEND
STEINHOFF INTERNATIONAL HOLDINGS LTD
  (Incorporated in the Republic of South Africa)
  (Registration number 1998/003951/06)
  (Share code: SHF   ISIN: ZAE000016176)
  ("Steinhoff" or "the company")

TERMS OF CAPITALISATION SHARE AWARD AND ELECTION TO RECEIVE A CASH DIVIDEND IN LIEU THEREOF
Shareholders are referred to the results announcement dated 5 September 2001 and are advised that the directors of Steinhoff have determined the terms of the capitalisation share award ("the share award") and the right of election to receive the final cash dividend in lieu thereof. Terms of the share award
Shareholders registered in the books of Steinhoff at the close of business on Friday, 5 October 2001 ("the record date"), will be eligible for the share award.
Shareholders will receive capitalisation shares in the company unless they elect to receive the final cash dividend of 12 cents per share in respect of the year ended 30 June 2001.
The number of capitalisation shares to which shareholders will become entitled will be in the ratio that 12 cents bear to the issue price of the shares to be issued pursuant to the share award. The issue price shall be the volume weighted average traded price of Steinhoff's shares on the JSE Securities Exchange South Africa ("JSE") for the five trading days ending Friday, 26 October 2001. The issue price will be published in the press on Monday, 29 October 2001. The entitlement to capitalisation shares will be calculated on the following basis: Capitalisation
share = number of shares held x 12 cents per share
entitlement at the record date issue price Fractions
Where entitlements to capitalisation shares result in a fraction of a share, a residual cash payment will be made in respect thereof based on the issue price. However, in terms of Article 78.4 of the Articles of Association of the company, fractions of shares or dividends with a value of less than R5,00 (Five Rand) per shareholder per transaction which arise from the capitalisation dividend or cash dividend will be aggregated (in the case of shares, they will be sold on the JSE) and the total proceeds, after costs, donated to the Nelson Mandela Children's Fund. Listing
Subject to approval by the JSE, the listing of the capitalisation shares to be issued pursuant to the share award will commence on Wednesday, 7 November 2001.
Documentation which is subject to the approval of the JSE, dealing with the share award and the procedure required for electing the cash dividend, will be posted to shareholders on Friday,12 October 2001. In order to be valid, completed forms of election must be received by Steinhoff's transfer secretaries by no later than 12:30 on Friday, 2 November 2001.
The results of the share award will be published on Monday, 5 November 2001.
Posting of share certificates, dividend cheques and cheques in respect of fractional entitlements will be posted to shareholders on Wednesday, 7 November 2001. Wynberg, Sandton 28 September 2001 Sponsor and Investment bank Gensec Bank Limited (Registration number 1996/004744/06)

Share This Story