Our performance in 2009 - Sappi

2009 annual report 65
September September September September September
2009 2008 2007 2006 2005**
Share statistics US$ million US$ million US$ million US$ million US$ million
Ordinary shares in issue (millions)** 515.7 229.2 228.5 227.0 225.9
Net asset value per share (US cents)
Number of shares traded (millions)
348 700 795 611 703
JSE 443.40 241.58 246.95 252.60 264.70
New York
Value of shares traded
66.28 51.04 49.81 57.60 83.60
JSE (ZAR million) 12,989.4 22,623.4 27,983.7 20,946.0 20,035.7
New York (US$ million) 259.1 634.3 770.8 715.0 999.4
Percentage of issued shares traded
Market price per share
98.8 127.7 129.9 136.7 154.2
(1)
– year end JSE (South African cents) 2,855 5,054 6,602 6,336 4,722
New York (US$) 3.76 6.32 9.67 8.04 7.45
– highest JSE (South African cents) 5,403 7,661 8,824 6,389 6,008
New York (US$) 6.41 9.98 12.24 9.62 9.41
– lowest JSE (South African cents) 1,290 4,700 6,263 3,948 3,675
New York (US$) 1.24 5.72 7.88 5.98 6.00
Earnings yield (%)* negative 9.58 5.41 negative 1.75
Dividend yield (%)* – 2.56 3.33 3.68 4.04
Price/earnings ratio (times)* – 10.43 18.48 – 57.08
Total market capitalisation (US$ million)* 1,985 1,435 2,196 1,850 1,676
* Based on financial year end closing prices on the JSE Limited. Income statement amounts have been converted at average year-to-date exchange rates.
** The number of shares excludes 21,384,559 treasury shares held by the group.
(1) Historical share prices shown in the table above have been adjusted by 1.58 (an adjustment factor) for the effect of the issuance of 286,886,270 new ordinary shares of
ZAR1.00 each, at a subscription price of ZAR20.27 per rights offer share in the ratio of 6 rights offer shares for every five Sappi shares held. The adjustment factor applied
to historical share prices was based on the theoretical ex-rights price (TERP) calculation shown below.
TERP is the [(number of new shares multiplied by the subscription price) plus the (number of shares held multiplied by the ex-dividend share price)] all divided by the (number
of new shares plus the number of shares held prior to the rights offer). The adjustment factor of 1.58 is calculated using the pre-announcement price dividend by the TERP.
(Refer to note 7).
Note: Definitions for various terms and ratios used above are included in the glossary from page 199 to 201.
our performance