1.   The capital structure is simple, with only ordinary shares in issue.

2.   The Directors propose to offer ordinary shareholders the opportunity to receive fully paid ordinary shares in the Company in lieu of the cash dividend.

3.   The Directors propose to offer shareholders the opportunity to receive fully paid ordinary shares in the Company in lieu of the cash dividend.

4.   The most important type is ordinary shares.

5.   In particular, preferred shares offer a fixed dividend, like bonds and unlike ordinary shares.

6.   Participating preferred shareholders have the right to have their shares converted to ordinary shares if the dividend is passed for a given number of years.

7.   Ordinary shares do not carry fixed returns to investors and do not have to be redeemed.

8.   The Scrip Dividend was accompanied by a Cash Offer from Barclays de Zoete Wedd Securities Limited to buy the new ordinary shares.