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Sharenet Sites
Results of the scrip distribution and the cash dividend alternative
Torre Industries Limited
Incorporated in the Republic of South Africa
(Registration number 2012/144604/06)
Share code: TOR
ISIN: ZAE000188629
(“Torre” or the “the Company”)
RESULTS OF THE SCRIP DISTRIBUTION AND THE CASH DIVIDEND
ALTERNATIVE
Torre ordinary shareholders (“Shareholders”) are referred to
the announcement released on the Stock Exchange News Service
on Thursday, 31 March 2016 (“the announcement”) regarding the
ratio applicable to the Company’s declaration of an interim
distribution of fully-paid Torre ordinary shares of no par
value (“Scrip Distribution Shares”) to Shareholders recorded
in the register at the close of business on the Record Date,
being Friday, 15 April 2016 (“Record Date”).
As set out in the announcement, Shareholders not electing to
receive the Cash Dividend in respect of all or part of their
shareholding were entitled to receive that number of Scrip
Distribution Shares determined in the ratio of 1.30508 Scrip
Distribution Shares for every 100 ordinary shares held on the
Record Date.
In terms of the Scrip Distribution, 5 007 338 new ordinary
shares were issued today to Shareholders who did not elect to
receive the Cash Dividend in respect of all or part of their
shareholding, resulting in a capitalisation of the
distributable retained profits of the Company of R 14 771 647.
Shareholders recorded in the register of the Company at the
close of business on the Record Date holding 135 914 297
ordinary shares elected to receive the gross Cash Dividend of
3.5 cents per ordinary share, resulting in a total gross Cash
Dividend of R 4 757 000, which was paid out of the
distributable retained profits of the Company.
Following the Scrip Distribution the Company has an issued
share capital of 524 602 296 ordinary shares of no par value.
Share certificates will be dispatched to certificated
Shareholders and CSDP/broker accounts of dematerialised
Shareholders will be credited today. Payment of the Cash
Dividend will also be made today.
Johannesburg
18 April 2016
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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