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Cash payment in respect of the fractional entitlement for the share consolidation
ASTORIA INVESTMENTS LTD
(Incorporated in the Republic of Mauritius)
(Registration number 129785 C1/GBL)
SEM share code: ATIL.N0000
JSE share code: ARA
ISIN: MU0499N00015
(“Astoria” or “the Company”)
CASH PAYMENT IN RESPECT OF THE FRACTIONAL ENTITLEMENT FOR THE SHARE
CONSOLIDATION
Shareholders are referred to the announcement released on SENS and on the website of the Stock Exchange of
Mauritius Ltd (“SEM”) on 30 July 2020 with regard to the consolidation of Astoria shares on a 2.16583 for
1 basis (the “Share Consolidation”).
In consolidating the shares, Astoria is required by the JSE Limited (“JSE”) to round the new consolidated shares
down to the nearest whole number, being 56 770 257, which results in Astoria needing to make a cash payment to
Livingstone Investments Proprietary Limited (the sole shareholder) (“Cash Payment”) for the fraction which
arises of 0.13006 of a share. The amount of the Cash Payment is determined with reference to the volume
weighted average traded price per Astoria share (240 ZAR cents) less 10%, as calculated on 24 March 2020,
being the last day of trade prior to the suspension of the Company’s shares on the JSE. The Cash Payment
amounts to 28.09296 ZAR cents. There will be no withholding tax applicable.
The shareholder holds the Astoria shares as capital assets (not as trading stock as defined in section 1 of the South
African Income Tax Act no. 58 of 1962), and as such the Cash Payment will be regarded as capital in nature.
The salient dates and times announced by the Company on 30 July 2020 remain unchanged.
The Company has primary listings on both the Official Market of the SEM and the Alternative Exchange of the
JSE.
By order of the Board
3 September 2020
The Board of Directors of Astoria, collectively and individually, accept full responsibility for the accuracy and
completeness of the information contained in this announcement and confirm, having made all reasonable
enquiries, that to the best of their knowledge and belief there are no other facts the omission of which would make
any statement herein misleading. This document is in compliance with the Stock Exchange of Mauritius Ltd
Rules Governing the Official Listing of Securities or any rule and regulations made thereunder.
Neither the SEM nor the Financial Services Commission (“FSC”) assumes any responsibility for the contents of
this document. The SEM and the FSC make no representation as to the accuracy or completeness of any of the
statements made or opinions expressed in this document and expressly disclaim any liability whatsoever for any
loss arising from or in reliance upon the whole or any part thereof.
JSE designated advisor
Questco Corporate Advisory Proprietary Limited
Company Secretary
Clermont Consultants (MU) Limited
Date: 03-09-2020 10:00:00
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