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The dividend is being announced at this time in accordance with the terms of the Merger Implementation Agreement entered into between ASX and SFE.
ASX’s final dividend is paid in line with the company’s policy of paying 90% of normalised net Profit1 after tax as fully franked dividends. It is based on an unaudited normalised net profit after tax for the 2005-2006 financial year of $137.1 million estimated for the purposes of the Merger Implementation Agreement. ASX’s audited final results are expected to be released to the market on 17 August 2006.
Combined with the interim dividend of 56.2 cents per share, this final dividend brings the total 2005-06 dividend paid to ASX shareholders to 120.1 cents per share. This represents a 26.3% increase on the total 2004-2005 dividend of 95.1 cents per share.
The record date for this final dividend will be 18 July 2006 and the payment date 9 August 2006. ASX also wishes to advise that Mr James Kennedy, AO, CBE and Mrs Catherine Walter, AM will retire from the ASX Board at the forthcoming Annual General Meeting scheduled for 9 October 2006.
Mr Maurice Newman, the Chairman of the ASX Board, praised both directors for their valuable contribution to the company over many years. Mr Kennedy has been on the ASX Board since February 1990 and Mrs Walter since April 1996.
“Jim Kennedy has been the quintessential independent director. He speaks without fear or favour and has given invaluable service to the ASX Board over more than sixteen years. Likewise, Cathy Walter has proved of immense value. Her insightful mind and dedication have provided the Board with consistent, quality advice and counsel. She, too, can be relied upon for her independence and I and the Board will miss them both.”
ASX also advises that Ms Christine Jones will retire as Company Secretary effective from 21 July 2006. Mr Anthony D’Arcy, ASX General Counsel, has been appointed as Company Secretary from that date. Ms Lyn Nikolopoulos will continue to act as Deputy Secretary of ASX.
Anthony D’Arcy and Lyn Nikolopoulos will be the persons nominated under Listing Rule 12.6 for communication with ASIC with regard to listing rule matters.
1The term “normalised net profit” in relation to ASX’s net profit means statutory net profit excluding significant items. No provision has been made in relation to any payment that may be made to Mr D’Aloisio in connection with his contractual arrangements. Any such payment will be treated either as a significant item or capitalised as part of the cost of acquisition of SFE.
