SENS

21-07-2010

Results of scrip distribution


Tongaat Hulett Limited (Registration No. 1892/000610/06)

JSE share code: TON       ISIN: ZAE000096541

 

 

RESULTS OF THE SCRIP DISTRIBUTION

 

 

In the announcement of the results for the financial period ended 31 March 2010, as released on the Securities Exchange News Service (“SENS”) of the JSE Limited (“JSE”) on 28 May 2010 and published in the press on 31 May 2010, shareholders were notified of the payment of a scrip distribution or an entitlement to elect to receive a cash dividend of 175 cents per ordinary share (“the cash dividend alternative”).

 

Subsequently, as released on SENS on 2 July 2010 and published in the press on 5 July 2010, shareholders were furthermore notified of the scrip distribution ratio of 1.76360 new ordinary shares per every 100 ordinary shares held, which was determined in the ratio that 175 cents multiplied by a factor of 1.05 is relative to 10419 cents (R104.19), being the volume weighted average price of ordinary shares on the JSE during the 22-day trading period ended on 1 July 2010.  

 

The cash dividend alternative entitled shareholders, in respect of all or part of their shareholding, to elect to receive a cash dividend of 175 cents per ordinary share in lieu of the scrip distribution, which was payable only to those shareholders who elected to receive the cash dividend, in respect of all or part of their shareholding, on or before 16 July 2010.

 

Shareholders holding 39 343 037 ordinary shares elected to receive the cash dividend alternative, which will result in a total cash dividend of R68 850 314.75 being paid out of profits. In respect of the remaining 64 334 192 ordinary shares currently in issue, 1 134 530 fully paid ordinary shares of       R1, 00 each will be issued to shareholders in terms of the scrip distribution, which will result in a capitalisation out of the share premium account of R1 134 530.

 

Share certificates and dividend cheques, where applicable, will be posted to certificated shareholders at their risk and the Central Securities Depositary Participant/ broker accounts of dematerialised shareholders will be credited/ updated on Thursday, 22 July 2010.

 

Amanzimnyama

Tongaat, KwaZulu-Natal

 

21 July 2010

 

Advisor and transaction sponsor

Rand Merchant Bank (A division of FirstRand Bank Limited)

 

Sponsor

Investec Bank Limited

 

Attorneys

Shepstone & Wylie