Wrap Text
AFE - AECI - Declaration of a capitalisation award with a cash dividend
alternative
AECI LIMITED
(Incorporated in the Republic of South Africa)
(Registration No. 1924/002590/06)
Share code: AFE ISIN No.: ZAE000000220
("AECI" or "the Company)
www.aeci.co.za
Declaration of capitalisation award with a cash dividend alternative
Notice is hereby given that the directors of AECI have resolved to issue fully
paid ordinary shares in the Company as a capitalisation award to ordinary
shareholders ("the capitalisation award").
Ordinary shareholders will be entitled as an alternative to the capitalisation
award, in respect of all or part of their shareholding, to elect to receive a
cash dividend of 28 cents per ordinary share ("the cash dividend alternative"),
which will be paid only to those ordinary shareholders who elect in respect of
all or part of their shareholding, on or before 12:00 on Friday, 2 October 2009,
to receive the cash dividend alternative. Shareholders not electing to receive
the cash dividend alternative in respect of all or part of their shareholding
will, by default, be issued with fully paid ordinary shares in terms of the
capitalisation award.
In accordance with the provisions of Strate, the electronic settlement and
custody system used by the JSE Limited, the relevant dates for the
capitalisation award/cash dividend alternative are as follows:
2009
Last day to trade to participate in the
capitalisation award on Friday, 25
September
Shares trade "ex" the capitalisation award on Monday, 28
September
Listing of the maximum number of new ordinary
shares that may be taken up in terms of the Monday, 28
capitalisation award on September
Last day to elect to receive the cash
dividend alternative (by 12:00), failing Friday, 2 October
which the capitalisation award will be
received on
Record date to participate in the
capitalisation award on Friday, 2 October
Payment of the cash dividend alternative to
shareholders who have elected to receive the
cash dividend in respect of all or part of
their shareholding on Monday, 5 October
New shares issued and posted or participant
or broker accounts credited regarding the
shares to be issued to shareholders who have
not
elected to participate in the cash dividend
alternative in respect of all or part of
their shareholding on Monday, 5 October
The maximum number of new shares listed in
terms of the capitalisation award, adjusted
to reflect the actual number of shares issued
in terms of the capitalisation award on or Tuesday, 6 October
about
Shares may not be dematerialised or rematerialised between Monday, 28 September
2009 and Friday, 2 October 2009, both days inclusive.
The above dates and times are subject to change. Any changes will be published
on the Securities Exchange News Service (SENS) and in the press.
The number of capitalisation shares to which shareholders are entitled will be
determined in the ratio that 28 cents per ordinary share bears to the 30-day
volume-weighted average price for the Company`s share, to be determined no later
than Wednesday, 16 September 2009. Details of the ratio will be published on
SENS no later than Thursday, 17 September 2009 and in the press the following
business day.
Trading in the Strate environment does not permit fractions and fractional
entitlements. Accordingly, where a shareholder`s entitlement to new ordinary
shares calculated in accordance with the above formula gives rise to a fraction
of a new ordinary share, such fraction 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 smaller than 0.5.
A circular relating to the capitalisation award and the cash dividend
alternative will be posted to certificated shareholders on or about Monday, 31
August 2009.
Note: Dematerialised shareholders are required to notify their duly appointed
participant or broker of their alternative in terms of the capitalisation award
in the manner and at the time stipulated in the agreement governing the
relationship between shareholders and their participant or broker.
By order of the Board
EA Rea
Acting Company secretary
Woodmead, Sandton
27 July 2009
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 28/07/2009 07:06:02 Supplied by www.sharenet.co.za
Produced by the JSE SENS Department.
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