BUSINESS CONNEXION GROUP LIMITED - Declaration of 20 cents Special Dividend

Declaration of 20 cents Special Dividend

BUSINESS CONNEXION GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1988/005282/06)
JSE code: BCX
ISIN: ZAE0000154631
("BCX" or the "Company")




DECLARATION OF 20 CENTS SPECIAL DIVIDEND


1.   INTRODUCTION

     BCX shareholders (“BCX Shareholders”) are referred the SENS announcement released on 5
     August 2014 regarding, inter alia, amendments to the implementation agreement entered into
     between BCX and Telkom on 21 May 2014.

2.   SPECIAL DIVIDEND

     The BCX board of directors (“BCX Board”) approved and declared a special gross cash
     dividend of 20 cents per ordinary share out of income reserves on 7 August 2014 (“Special
     Dividend”).

     In compliance with section 46 of the Companies Act, the BCX Board has applied the solvency
     and liquidity test set out in section 4(1) of the Companies Act ("Solvency and Liquidity Test")
     and has reasonably concluded that the Company will satisfy the Solvency and Liquidity Test
     immediately after payment of the Special Dividend.

     As no secondary tax on companies’ credits are available, the Special Dividend will be subject to
     dividend withholding tax at a rate of 15%, which will result in a net dividend of 17,0 cents per
     ordinary share to those BCX Shareholders who are not exempt in terms of section 64F of the
     Income Tax Act.

     The Special Dividend has also been approved by the Takeover Regulation Panel.

     BCX Shareholders are advised that the salient dates for record and payment dates relating to
     the Special Dividend will be released on SENS in due course and will be subject to the
     timetables as prescribed by JSE Listing Requirements. The Special Dividend is also subject to
     being paid as at the earlier of the ordinary scheme record date as per the SENS announcement
     released on 11 July 2014 regarding, inter-alia, the posting announcement of the BCX circular
     and 15 January 2015.The Special Dividend is subject to receiving exchange control approval
     from the South African Reserve Bank.

     The Company's tax reference number is 9200/108/71/1. The issued ordinary share capital at
     the declaration date is 404 972 468 ordinary shares.



Midrand
8 August 2014

Sponsor to BCX: One Capital Sponsor Services (Proprietary) Limited

Date: 08/08/2014 07:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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