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ISA - ISA Holdings Limited - Results of the AGM, capital distribution and

Release Date: 29/06/2007 10:55
Code(s): ISA
Wrap Text

ISA - ISA Holdings Limited - Results of the AGM, capital distribution and ordinary dividend Distribution ISA Holdings Limited ("ISA") Incorporated in the Republic of South Africa (Registration number: 1998/009608/06) JSE share code: ISA ISIN code: ZAE000067344 RESULTS OF THE ANNUAL GENERAL MEETING, CAPITAL DISTRIBUTION AND ORDINARY DIVIDEND DISTRIBUTION Results of the Annual General Meeting Shareholders are advised that, at the Annual General Meeting of ISA Holdings Limited held today, all the resolutions presented in The Notice of Annual General Meeting were passed by the requisite majority of shareholders. The special resolutions will be submitted to the Registrar of Companies for registration. Capital distribution and ordinary dividend distribution Shareholders are further advised that, a capital distribution to shareholders, to be paid out of share premium, of 3.9 cents per share will be made. The table below sets out the pro forma financial effects of the distribution out of share premium on ISA`s annual financial results for the year ended 28 February 2007. The pro forma financial effects is the responsibility of the directors and has been prepared for illustrative purposes only. Because of their nature, the pro forma financial information may not give a true reflection of ISA`s financial position or results. Per ISA ordinary share Before the After the Percentage distribution distribution change Net asset value (cents) 21.8 17.9 (17.9%) Net tangible asset value (cents) 18.5 14.6 (21.1%) Headline earnings per share (cents) 5.9 5.7_ (3.3%) Earnings per share (cents) 6.2 5.9_ (4.8%) Shares in issue at year end (000`s) 192,593 192,593 Weighted average shares in issue upon which earnings and headline earnings per share are based (000`s) 171,728 171,728 Notes: *= Based on published consolidated audited results for the year ended 28 February 2007. = Based on the assumption that the distribution out of share premium was effected on 28 February 2007. _= Based on the assumption that the distribution out of share premium was effected on 1 March 2006 and that cash resources are assumed to earn an after tax interest return of 6.2%. The salient dates for the distribution of the ordinary dividend of 1.1 cents per share and the capital distribution to be paid out of share premium of 3.9 cents per share are set out below: Last day to trade "cum" the distributions: Friday, 6 July 2007 Date trading commences "ex" the distributions: Monday, 9 July 2007 Record date: Friday, 13 July 2007 Date of payment: Monday, 16 July 2007 Shareholders may not dematerialise or rematerialise their shares between Monday 9 July 2007 and Friday 13 July 2007, both days inclusive. In terms of the requirements of the Companies Act No. 61 of 1973, the directors confirm that, after the cash capital and dividend distributions, ISA Holdings Limited will be able to pay its debts as they become due in the ordinary course of business, and that its consolidated assets, fairly valued, will exceed its consolidated liabilities. Randburg 29 June 2007 Designated advisor: Exchange Sponsors (Pty) Ltd Date: 29/06/2007 10:55:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department.

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