1999/07/16
TERMS OF CAPITALISATION SHARE AWARD AND ELECTION TO RECEIVE A FINAL DIVIDEND IN [JSE Securities Exchange - SENS]
 
16/07/1999 - 20:35:36

JIGSAW
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 87/00111/06)
("JIGSAW" OR "THE COMPANY")
TERMS OF CAPITALISATION SHARE AWARD AND ELECTION TO RECEIVE A FINAL DIVIDEND IN
LIEU THEREOF AND FURTHER CAUTIONARY ANNOUNCEMENT
SHAREHOLDERS ARE REFERRED TO THE PROFIT ANNOUNCEMENT DATED 23 JUNE 1999 AND ARE
ADVISED THAT THE DIRECTORS OF JIGSAW HAVE DETERMINED THE TERMS OF THE
CAPITALISATION SHARE AWARD AND THE RIGHT OF ELECTION TO RECEIVE THE FINAL CASH
DIVIDEND IN LIEU THEREOF.
1. TERMS OF THE OFFER
1.1 SHAREHOLDERS REGISTERED IN THE BOOKS OF JIGSAW AT THE CLOSE OF BUSINESS ON
FRIDAY, 23 JULY 1999 ("THE RECORD DATE") WILL BE ELIGIBLE FOR THE AWARD.
1.2 SHAREHOLDERS WILL RECEIVE CAPITALISATION SHARES IN JIGSAW UNLESS THEY ELECT
TO RECEIVE THE FINAL CASH DIVIDEND OF 3 CENTS PER SHARE IN RESPECT OF THE YEAR
ENDED 28 FEBRUARY 1999.
1.3 THE NUMBER OF CAPITALISATION SHARES TO WHICH SHAREHOLDERS WILL BECOME
ENTITLED WILL BE IN THE RATIO THAT 3 BEARS TO THE ISSUE PRICE. THE ISSUE PRICE
SHALL BE THE WEIGHTED AVERAGE TRADED PRICE OF JIGSAW'S SHARES ON THE
JOHANNESBURG STOCK EXCHANGE ("THE JSE") FOR THE FOUR BUSINESS DAYS ENDING
THURSDAY, 19 AUGUST 1999, DISCOUNTED BY A FACTOR OF 5%, BUT SUBJECT TO A
MINIMUM ISSUE PRICE OF 185 CENTS PER SHARE, BEING THE CLOSING PRICE OF JIGSAW'S
SHARES ON THE JSE ON MONDAY, 12 JULY 1999 DISCOUNTED BY A FACTOR OF 10%. THE
ENTITLEMENT TO CAPITALISATION SHARES IS CALCULATED ON THE FOLLOWING BASIS:
CAPITALISATION SHARE ENTITLEMENT  =  NUMBER OF SHARES HELD        3
                                     AT THE RECORD DATE    X  ISSUE PRICE
2. FRACTIONS
WHERE ENTITLEMENTS TO CAPITALISATION SHARES RESULT IN FRACTIONS OF A SHARE, A
RESIDUAL CASH PAYMENT WILL BE MADE IN RESPECT THEREOF BASED ON THE ISSUE PRICE
PER SHARE.
3. LISTING
SUBJECT TO APPROVAL BY THE JSE, LISTING OF THE CAPITALISATION SHARES TO BE
ISSUED WILL COMMENCE ON WEDNESDAY, 25 AUGUST 1999.
4. DOCUMENTATION
DOCUMENTATION WHICH IS SUBJECT TO APPROVAL BY THE JSE, DEALING WITH THE AWARD
AND ELECTION, WILL BE POSTED TO SHAREHOLDERS ON FRIDAY, 30 JULY 1999. IN ORDER
TO BE VALID, COMPLETED FORMS OF ELECTION MUST BE RECEIVED BY THE COMPANY'S
TRANSFER SECRETARIES BY NO LATER THAN 14:30 ON FRIDAY, 20 AUGUST 1999.
ELECTION FORMS WILL NOT BE ACCEPTED AFTER THIS TIME.
5. POSTING OF SHARE CERTIFICATES, DIVIDEND CHEQUES AND FRACTION CHEQUES
SHARE CERTIFICATES, DIVIDEND CHEQUES AND FRACTION CHEQUES WILL BE POSTED TO
SHAREHOLDERS ON OR ABOUT WEDNESDAY, 25 AUGUST 1999.
6. AWARD OF CAPITALISATION SHARES AND ELECTION TO RECEIVE THE INTERIM DIVIDEND
A FURTHER ANNOUNCEMENT WILL BE MADE ON OR ABOUT WEDNESDAY, 25 AUGUST 1999, AS
TO THE RESULT OF THE CAPITALISATION SHARE AWARD AND THE ELECTION TO RECEIVE THE
FINAL CASH DIVIDEND.
7. FURTHER CAUTIONARY ANNOUNCEMENT
SHAREHOLERS ARE REFERRED TO THE CAUTIONARY ANNOUNCEMENTS DATED 31 MAY 1999 AND
29 APRIL 1999. SHAREHOLDERS WERE ADVISED THAT JIGSAW (FORMERLY AIDA HOLDINGS
LIMITED) HAS ENTERED INTO NEGOTIATIONS.
THESE NEGOTIATIONS ARE STILL IN PROGRESS WHICH, IF SUCCESSFULLY CONCLUDED, MAY
HAVE AN EFFECT ON THE PRICE AT WHICH JIGSAW'S SHARES ARE TRADED ON THE JSE.
ACCORDINGLY, SHAREHOLDERS ARE ADVISED TO CONTINUE EXERCISING CAUTION WHEN
DEALING IN JIGSAW'S SHARES UNTIL FURTHER ANNOUNCEMENTS ARE MADE.
JOHANNESBURG
16 JULY 1999
MERCHANT BANK
ABSA CORPORATE BANK
CORPORATE FINANCE
(REGISTRATION NUMBER 86/04794/06)
SPONSORING BROKER
ABSA SECURITIES (PTY) LTD
MEMBER OF THE JOHANNESBURG STOCK EXCHANGE
(REGISTRATION NUMBER 73/10798/07)
PRODUCED BY: ELIZE BLOM 16-07-1999 17:26 SENS

PUBLISHER : JSE SENS Feed
Source: JSE Securities Exchange - SENS
 
DISCLAIMER: http://www.mcgbfa.com/disclaimer.htm
 
Email
 
Print