12th Nov 2008 09:50
12 November 2008
Asian Citrus Holdings Limited
("Asian Citrus" or "the Group")
Dividend Payment and Scrip Dividend Offer
Asian Citrus, the largest orange plantation owner and operator in China, announces the exchange rate for its 2007/08 final dividend payment and the share dividend price for its scrip dividend offer.
Cash Dividend
On 14 October 2008, Asian Citrus Holdings Limited declared a final dividend for 2007/08 of RMB0.80 per ordinary share. Dividend payments will be converted to GBP at a rate of RMB10.7866 with reference to the Hong Kong Association of Banks on 7 November 2008 and shareholders should expect to receive a cash dividend of approximately 7.42 pence per ordinary share if the proposed final dividend is approved at the Annual General Meeting on 12 December 2008 and it will be paid on or before 31 December 2008.
Scrip Dividend
On 14 October 2008, Asian Citrus wrote to shareholders offering them a scrip dividend alternative to the 2007/08 final cash dividend. The offer price for the new shares to be issued under the Scrip Dividend Scheme is ￡1.576.
￡1.576 is the average of the closing share prices for the five dealing days ended Tuesday 11 November 2008 and was calculated using the sterling/Chinese Yuan Renminbi with reference to the Hong Kong Association of Banks on 7 November 2008.
To receive one new ordinary share under this offer, a shareholder must have 22 or more ordinary share as at 7 November 2008 (the "record date"). If you held insufficient ordinary shares and the cash value of your dividend is less than the price of the scrip dividend, you will not be able to receive the scrip dividend on this occasion.
The scrip dividend offer will be closed on 21 November 2008.
For further information please contact:
Asian Citrus Holdings Limited Tel: 852 2559 0323
Tony Tong, Chairman and Chief Executive Officer
Eric Sung, Finance Director
Weber Shandwick Financial Tel: 020 7067 0700
Terry Garrett, Stephanie Badjonat, John Moriarty
Related Shares:
ACHL.L