Huge buying, page-6

5 announcements so far:
1)
3 relating to the FY results (with a 2.5c final dividend, and a 5c FY02 forecast dividend);
2)
1 relating to a share buyback; and
3)
1 relating to the new strategic alliance with Citibank (and Citibank taking a stake in CPU).


CITIBANK ALLIANCE:

The Citibank alliance is non-exclusive and is to explore new opportunities in North America and globally, initially for 2 years.

Included is the issue of ~12m options to Citibank (~2% of CPU's expanded share capital), exercisable @$1.83 over 4 years, but escrowed for the first 12 months.

Further options, to 3% of the expanded capital base will be awarded to Citibank depenent upon the identification of suitable opportunities, and associated performance hurdles.

Citibank could, therefore, end up with ~5% of the expanded CPU capital base.


SHARE BUYBACK:

10% buyback, commencing 11 September, for 6 months, as part of a capital management programme.


FY RESULTS:

Released an in-line result (compared to the 28 february revised forecast).

Normalised net after tax profit of $57.9m (up 5.5%). EPS of 9.6c.

Revenues of $781m (up 4%).

EBITDA down 3%, at $147.6m.

Final dividend of 2.5c, making for 3c on a full year basis (but up heavily on the 1/2c H1 interim dividend).

Intention to double the dividend payout to 5c in FY03 (fully franked).

Total assets of $959.7m are supported by shareholders’
funds of $656m, with scope for future expansion.