LONDON FINANCE AND INVEST. GRP PLC - London Finance - Amended Year End Dividend Announcement

London Finance - Amended Year End Dividend Announcement

London Finance & Investment Group P.L.C.
(Incorporated in England – No. 201151)
Code: LNF   ISSN: GB0002994001
(“the Company”)


AMENDED DIVIDEND ANNOUNCEMENT FOR THE YEAR ENDED 30 JUNE 2012


Further to the dividend announcement released on 19 October 2012,
it has come to our attention that there was an error in the
calculation of the figures for the gross and net dividend payable
to shareholders on the Company’s South African register.    The
amended announcement below shows the correct figures.




Further to the Company’s preliminary announcement of results for
the year ended 30 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 30th
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
(UK)                           2012
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 18th
October 2012.   Consequently the dividend of 0.35p will be equal to
4.87662 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
4.87662 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 4.14513 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 1st 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


22 October 2012
Johannesburg


Sponsor
Sasfin Capital ( a division of Sasfin Bank Limited)

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