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Lonfin - June 2012 year end dividind declaration
London Finance & Investment Group P.L.C.
(Incorporated in England – No. 201151)
Code: LNF ISSN: GB0002994001
(“the Company”)
DIVIDEND ANNOUNCEMENT FOR THE YEAR ENDED 30 JUNE 2012
Further to the Company’s preliminary announcement of results for
the year ended 30th June 2012, released on 28 September 2012, the
Board recommends a final dividend of 0.35p, making 0.7p per share
for the year (2011 - 0.6p). Subject to member’s approval, which
will be sought at the Annual General Meeting to be held on
Wednesday, 28 November 2012, the dividend will be paid on 30
November 2012 to those members on the register at the close of
business on 9 November 2012. Shareholders on the South African
register will receive their dividend in South African rand
converted from sterling at the closing rate of exchange on 18
October 2012.
Salient dates for dividend
Last day to trade (SA) Friday 2 November 2012
Shares trade ex dividend Monday 5 November 2012
(SA)
Shares trade ex dividend Wednesday 7 November 2012
(UK)
Record date (UK & SA) Friday 9 November 2012
Pay date Friday 30 November 2012
Currency conversion date Thursday 18 October 2012
Shareholders are hereby advised that the exchange rate to be used
will be GBP 1 = ZAR13.9332.
This has been calculated as the average of the bid/ask spread as
at 16h00 (United Kingdom time) being close of business on 18
October 2012. Consequently the dividend of 0.35p will be equal to
4.17996 South African cents.
Since the introduction on 1 April 2012 of a new dividend
withholding tax in South Africa, the JSE Listings Requirements
require disclosure of additional information in relation to any
dividend payments. Shareholders registered on the Johannesburg
register are therefore advised that the new dividend withholding
tax will be withheld from the gross final dividend amount of
4.17996 SA cents per share at a rate of 15%, unless a shareholder
qualifies for an exemption; shareholders registered on the
Johannesburg register who do not quality for an exemption will
therefore receive a net dividend of 3.55297 SA cents per share. The
Company, as a non-resident of South Africa, was not subject to the
secondary tax on companies (STC) applicable before 1 April 2012,
and accordingly, no STC credits are available for set-off against
the dividend withholding tax liability on the final net dividend
amount. The dividend is payable in cash as a ‘Dividend’ (as
defined in the South African Income Tax Act, 58 of 1962, as
amended) by way of a reduction of income reserves. The dividend
withholding tax and the information contained in this paragraph is
only of direct application to shareholders registered on the
Johannesburg register, who should direct any questions about the
application of the new dividend withholding tax to Computershare
Investor Services (Pty) Limited, Tel: +27 11 373-0004.
From the commencement of trading on Monday, 5 November 2012 until
the close of business on Friday 9 November 2012, no transfers
between the London and Johannesburg registers will be permitted,
and no shares may be dematerialised or rematerialised, both days
inclusive.
By Order of the Board
City Group P.L.C.
Secretaries
19 October 2012
Johannesburg
Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)
Date: 19/10/2012 01:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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