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Posting Of Circular Relating To Cash Dividend Or Capitalisation Share Election
AFRICAN BANK INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1946/021193/06
Ordinary share code: ABL and ISIN: ZAE000030060
Preference share code: ABLP and ISIN: ZAE000065215
("ABIL" or “the Company”)
POSTING OF CIRCULAR RELATING TO CASH DIVIDEND OR CAPITALISATION
SHARE ELECTION
Shareholders are referred to the Company’s reviewed annual
financial results for the year ended 30 September 2012, published
on SENS on 19 November 2012 and in the press on 20 November 2012,
in which they were advised that ABIL’s board of directors had
resolved to declare a final gross cash dividend of 110 cents per
ordinary share (“the Cash Dividend”) to ordinary Shareholders
(“Shareholders”) recorded in the register of the Company at the
close of business on the Record Date, being Friday, 14 December
2012.
Shareholders are advised that they will be entitled to elect to
receive fully paid ordinary shares with a par value of 2,5 cents
in ABIL (“Capitalisation Shares”), in respect of all or part of
their ordinary shareholding instead of the Cash Dividend
(“Capitalisation Issue”).
Capitalisation Shares will be issued only to those:
- certificated shareholders whose Forms of Election to
receive the Capitalisation Shares, in respect of all or
part of their shareholding, are received by the Transfer
Secretaries on or before 12h00 noon on the Record Date;
and
- dematerialised shareholders who have instructed their
CSDP or broker accordingly and in the manner and time
stipulated in their agreement with such CSDP or broker.
The number of Capitalisation Shares to which Shareholders will
become entitled pursuant to the Capitalisation Issue (should they
so elect) will be determined by reference to such Shareholder’s
ordinary shareholding in ABIL at the close of business on the
Record Date in relation to the ratio that 110 cents bears to the
volume weighted average price (“VWAP”) of an ordinary ABIL share
traded on the JSE during the nine-day trading period ending on
Thursday, 29 November 2012.
A circular, setting out, inter alia, the rationale for the
proposed Cash Dividend or Capitalisation Issue (and including a
Form of Election) will be posted to shareholders today, Friday, 23
November 2012.
The salient dates for the proposed Cash Dividend and
Capitalisation Issue, also contained in the circular, are as
follows:
2012
Circular and Form of Election posted to Friday, 23
Shareholders on November
Announcement released on SENS regarding Friday,
the ratio applicable to the Capitalisation 30 November
Issue, based on the nine-day volume
weighted average price ending on Thursday,
29 November 2012 by 11h00 on
Announcement published in the press Monday,
regarding the ratio applicable to the 3 December
Capitalisation Issue, based on the nine-
day volume weighted average price ending
on Thursday, 29 November 2012 on
Last day to trade in order to be eligible Friday,
for the Cash Dividend or, alternatively, 7 December
the Capitalisation Issue
Ordinary shares trade “ex” the Cash Monday,
Dividend/Capitalisation Issue on 10 December
Listing of maximum possible number of Monday,
ordinary shares from the commencement of
business on 10 December
Last day to elect to receive the Friday, 14
Capitalisation Issue instead of the Cash December
Dividend, Forms of Election to reach the
Transfer Secretaries by 12h00 noon on
Record Date in respect of the Cash Friday, 14
Dividend and the Capitalisation Issue December
Share certificates posted and Cash Tuesday,
Dividend payments made / Cash Dividend 18 December
cheques posted, CSDP/broker accounts
updated on
Announcement relating to the results of Tuesday,
the Cash Dividend and the Capitalisation 18 December
Issue released on SENS on
Listing of ordinary shares adjusted at the Wednesday,
commencement of business on 19 December
Notes:
1. All times provided above are South African local times. The above
dates and times are subject to change. Any material change will be
announced on SENS.
2. Share certificates may not be dematerialised or rematerialised, nor
may transfers take place between Monday, 10 December 2012 and
Friday, 14 December 2012, both days inclusive.
Johannesburg
23 November 2012
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Attorneys
Prinsloo, Tindle, Andropoulos Inc.
Date: 23/11/2012 09:44:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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