2006 20-F - Sappi

SAPPI
NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS (Continued)
for the year ended September 2006
8. DIVIDENDS (Continued)
residents of the Republic of South Africa will without exception be paid in United States Dollars. There
will not be any election.
Dividends payable from the London transfer office will be paid in British Pounds Sterling or in the
case of shareholders with registered addresses in the USA, in United States Dollars.
Dividends payable other than in United States Dollars will be calculated at the respective rates of
exchange ruling at 21h15 Central European Time as per Reuters on Monday 18 December 2006, and
announced on Tuesday, 19 December 2006.
There will not be any dematerialisation nor rematerialisation of Sappi Limited share certificates from
29 December 2006 to 05 January 2007, both days inclusive.
9. ASSETS HELD FOR SALE
In May 2006, Sappi stopped paper production at the Nash Mill. The mill had been suffering from
escalating costs of production, especially energy, which had made it uncompetitive. The plant and
equipment has been sold locally with some being transferred elsewhere in the Group. Most of the products
previously manufactured at the mill are now produced elsewhere in the Group. The land and buildings are
currently available for sale and are expected to be sold by the end of the next financial year. These assets
are held in Sappi Fine Paper Europe.
The major classes of assets of Nash Mill classified as held for sale as at September 2006 are as follows:
F-50
2006 2005
US$ million
Assets
Land and buildings
Cost .................................................................... 24 —
Accumulated depreciation................................................. (4 ) —
Assets held for sale ....................................................... 20 —