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Micromega Holdings Limited - Capitalisation Share Award and Cash Election

Release Date: 19/03/2002 17:02
Code(s): MMG
Wrap Text
MICROMEGA HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/003821/06)
ISIN Code    :  ZAE000034435
Share Code   :  MMG
("Micromega" or "the Company")
CAPITALISATION SHARE AWARD AND CASH ELECTION

Further to the audited financial results announcement published on Tuesday, 5 March 2002, shareholders are advised that salient dates and times of the capitalisation share award and cash dividend have been amended. Notice is hereby given that an award of new ordinary shares of 1 cent each (" new ordinary shares") will be given to shareholders recorded in the share register of the company at the close of business on Friday, 12 April 2002 ("record date") by way of a capitalisation of distributable reserves. The number of new ordinary shares to which ordinary shareholders will be
entitled will be determined by applying to their shareholdings on the record date, the ratio that 20.0 cents bears to R3.80 which was the most actively traded price of Micromega's ordinary shares on the JSE Securities Exchange South Africa ("JSE") on Friday, 8 March 2002. The rounded number of shares to which shareholders will become entitled will be determined according to the following formula:
New ordinary share Number of ordinary shares held 20.0 cents entitlement = on the record date x 380.0 cents This equates to 5.26316 new ordinary shares for every 100 ordinary shares held. Shareholders may elect to decline the capitalisation share award in respect of all or part of their shareholdings and instead receive a final cash dividend of 20.0 cents per ordinary share. The last day to trade for the capitalisation share award will be Friday, 5 April 2002 ("CUM" the entitlement). Shares will commence trading "EX" the entitlement from the commencement of business on Monday, 8 April 2002.
Subject to the approval of the JSE, a listing of the maximum number of new ordinary shares will commence on Monday, 8 April 2002. No dematerialisation or rematerialisation of share certificates may take place between Thursday, 28 March 2002 and Friday, 12 April 2002, both days inclusive.
Documentation, subject to the approval of the JSE, dealing with the
capitalisation share award and forms of election will be posted to
shareholders on Wednesday, 20 March 2002. Forms of election in respect of shareholders who have not yet dematerialised their shares ("certificated shareholders") who wish to elect to receive the final cash dividend should be received by the transfer secretaries by no later than close of business on Wednesday, 10 April 2002 ("the Election Date"). Where shareholders have dematerialised their share certificates, they should contact their Central Securities Depository Participant ("CSDP") or broker and advise them of their election so that the relevant CSDP or broker can, in turn, inform the transfer secretaries of such election by no later than close of business on Wednesday, 10 April 2002.
Where relevant, safe custody accounts with the CSDP or broker will be credited with the entitlement or share certificates in respect of the new ordinary shares and / or payments will be issued or made on Monday, 15 April 2002. A further announcement will be published on or about Tuesday, 16 April 2002 detailing the results of the capitalisation share award and cash election. Johannesburg 20 March 2002 Sponsor HSBC

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