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STEINHOFF INTERNATIONAL HOLDINGS LD - 2012 Distribution: Finalisation of the issue price of the capitalisation issue share award and the entitlement ratio

Release Date: 15/11/2012 12:01
Code(s): SHF     PDF:  
Wrap Text
2012 Distribution: Finalisation of the issue price of the capitalisation issue share award and the entitlement ratio

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

2012 DISTRIBUTION: FINALISATION OF THE ISSUE PRICE OF THE
CAPITALISATION ISSUE SHARE AWARD AND THE RATIO OF
ENTITLEMENT

Shareholders are hereby advised that the issue price of the
capitalisation issue share award (“the share award”) and
the ratio of entitlement thereto have now been determined,
with reference to the announcement of the terms of the
capitalisation issue share award (“the share award”)
published on the Securities Exchange News Service (“SENS”)
of the JSE on 7 November 2012 and in the press on
8 November 2012 (“the terms announcement”).

The issue price applicable to the share award is 2 926.91
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, 14 November 2012, 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 issue shares will be 3.41658
shares for every 100 shares held on 30 November 2012 (“the
record   date”).     Therefore,   the   maximum  number of
capitalisation issue shares that will be issued, should all
shareholders retain the share award, is 60 934 040 shares.

Shareholders will receive capitalisation issue shares in
the company unless they elect by the record date to receive
the final cash distribution of 80 cents per share (also to
be paid from the share premium account) in respect of the
financial year ended 30 June 2012.

Based on the ratio of entitlement of 3.41658 for every 100
shares held, the cash distribution of 80 cents per share
translates to a discount of 20% to the equivalent value of
the capitalisation issue shares valued at the issue price.

Application has been made to the JSE for the maximum
possible number of capitalisation issue shares to be issued
in terms of the share award to be listed with effect from
the commencement of business on Monday, 26 November 2012.
An adjustment to the number of the capitalisation issue
shares   listed  will  be  made  on  or  about  Tuesday,
4 December 2012, in accordance with the actual elections
made.

The salient dates applicable to the share award as
announced on SENS on 7 November 2012 remain unchanged.

Johannesburg
15 November 2012

Company Secretary:   Steinhoff Africa Secretarial Services
Proprietary Limited
Sponsor: PSG Capital Proprietary Limited

Date: 15/11/2012 12:01:00 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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