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Cash Payment in respect of Fractional Entitlements
LUXE HOLDINGS LIMITED
(Previously Taste Holdings Limited)
Incorporated in the Republic of South Africa
(Registration number: 2000/002239/06)
Share code: LUX
ISIN Code: ZAE000286035
(“Luxe” or “the Company”)
CASH PAYMENT IN RESPECT OF FRACTIONAL ENTITLEMENTS
Shareholders are referred to the circular issued by the Company on Wednesday, 27 May 2020
(“Circular”) and the finalisation announcement on SENS on 8 July 2020, regarding the name
change of the Company to “Luxe Holdings Limited” and the consolidation of the Company’s
share capital on a 100 to 1 basis (“Consolidation”).
In implementing the Consolidation, a shareholder becoming entitled to a fraction of a share
arising from the Consolidation (“fractional entitlement”) will be rounded down to the nearest
whole number, resulting in the allocation of whole Luxe shares and a cash payment for the
fraction (“cash payment”). The value of such cash payment will be the volume weighted
average traded price (“VWAP”) per Luxe share traded on the JSE Limited on Wednesday,
22 July 2020 (being the first day of trade after the last day to trade in order to participate in the
Consolidation), less 10%.
The VWAP of Luxe ordinary shares traded on the JSE on Wednesday, 22 July 2020 was
68 cents per share. This amount, discounted by 10%, is 61 cents per share, which amount will
be used to determine the cash payment for the fractional entitlements.
Shareholders are informed that, as far as the tax implications of the cash payment of the
fractional entitlements are concerned, the receipt of the cash payment will not be subject to
dividend withholding tax.
The above is a general guide and is not intended to constitute a complete analysis of the
taxation consequences of the cash payment of fractional entitlements in terms of South African
taxation law. It is not intended to be, nor should it be considered as legal or taxation advice
and shareholders are advised to seek their own tax advice from an independent tax adviser.
The Company and its advisers cannot be held responsible for the taxation consequences that
the Consolidation may have on individual shareholders and therefore shareholders are
advised to consult their own tax advisers if they are in any doubt about their tax position.
The salient dates and times announced by the Company on 8 July 2020 remain unchanged.
Johannesburg
23 July 2020
Sponsor
PSG Capital
Date: 23-07-2020 11:03:00
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