Your freight logistics and shipping service provider

GNDE - Grindrod Limited - Subdivision Of Shares

19/08/2005 16:05:41

Grindrod Limited - Subdivision Of Shares
GRINDROD LIMITED
('Grindrod')
(Registration number: 1966/0009846/06)
Share code: GND
ISIN: ZAE000052247
SUBDIVISION OF SHARES
1. Introduction
Shareholders are advised that the board of directors of Grindrod intends to ask
shareholders to approve a special resolution, which will have the effect of
subdividing each ordinary share of 0,01 cents each into five ordinary shares of
1 cent each ('subdivision').
2. The subdivision
The purpose of the proposed subdivision of Grindrod's ordinary shares is to
improve liquidity and to make the share more accessible for private investors.
Below shows the effect of the proposed subdivision of Grindrod's authorised and
issued share capital as at 18 August 2005.
Number of Number of
shares before shares after
the the
subdivision subdivision
Authorised share capital
Ordinary shares of 0,01 550 000 000
cents each
Ordinary shares of 0,002 2 750 000 000
cent each
Cumulative non-redeemable,
non-participating, non-
cumulative preference 7 500 000 7 500 000
shares of 0,031 cents each
Issued share capital
Ordinary shares of 0,01 91 683 852
cents each
Ordinary shares of 0,002 458 419 260
cents each
Cumulative non-redeemable,
non-participating, non-
cumulative preference 5 000 000 5 000 000
shares of 0,031 cents each
3. Shareholder approval
The subdivision will require ordinary shareholders to approve, inter alia,
a special resolution to subdivide each ordinary share of 0,01 cent into five
ordinary shares of 0,002 cent each.
4. Conditions precedent
The implementation of the subdivision is subject to the fulfilment of the
following conditions precedent:
The approval by ordinary shareholders of the requisite special resolution; and
The registration of the special resolution by the Registrar of Companies
5. Salient dates and times
The salient dates and times in respect of the subdivision will be announced
in due course.
6. Further documentation
A circular convening a general meeting of ordinary shareholders to approve
the requisite resolution and containing further details of the subdivision is
being prepared and will be posted to shareholders in due course.
Durban
19 August 2005
Sponsor
Exchange Sponsors (Pty)
Ltd
Date: 19/08/2005 04:01:05 PM
Produced by the JSE SENS Department

Back to securities exchange news feed