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SHF - Steinhoff International Holdings Limited - Capital distribution: issue

Release Date: 18/11/2010 15:03
Code(s): SHF
Wrap Text

SHF - Steinhoff International Holdings Limited - Capital distribution: issue price and ratio of entitlement of share award STEINHOFF INTERNATIONAL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration Number: 1998/003951/06 ("Steinhoff" or "the company") Share Code: SHF ISIN: ZAE000016176 CAPITAL DISTRIBUTION: ISSUE PRICE AND RATIO OF ENTITLEMENT OF SHARE AWARD Shareholders are referred to the announcement of the terms of the capitalisation share award ("the share award") published on the Securities Exchange News Service ("SENS") of the JSE on 10 November 2010 and in the press on 11 November 2010 ("the terms announcement") and are hereby advised that the issue price of the share award has now been determined. The issue price applicable to the share award is 2207.83 cents per share, which is the volume weighted average traded price per Steinhoff share on the JSE Limited ("the JSE") over the five trading days up to and including Wednesday, 17 November 2010, being the last practical date before the finalisation and release of this announcement on SENS. Based on the issue price referred to above, the ratio of entitlement to capitalisation shares will be 3.80 shares for every 100 shares held on 3 December 2010 ("the record date"). Therefore, the maximum number of capitalisation shares that will be issued, should all shareholders retain the share award, is 56 204 318 shares. Shareholders will receive capitalisation shares in the company unless they elect by the record date to receive the final cash distribution of 63 cents per share in respect of the financial year ended 30 June 2010. Based on the ratio of entitlement of 3.80 for every 100 shares held, the cash distribution of 63 cents per share translates to a discount of 25.0% to the equivalent value of the capitalisation shares valued at the issue price. Application has been made to the JSE for the maximum possible number of capitalisation shares to be issued in terms of the capitalisation award to be listed with effect from the commencement of business on Monday, 29 November 2010. An adjustment to the number of the capitalisation shares listed will be made on or about Tuesday, 7 December 2010, in accordance with the actual elections made. The salient dates applicable to the share award as announced on SENS on 10 November 2010 remain unchanged. Johannesburg 18 November 2010 Company Secretary: S J Grobler Sponsor: PSG Capital (Proprietary) Limited Date: 18/11/2010 15:03:38 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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