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Trading statement and Capital Distribution out of share premium in lieu of dividend
Purple Capital Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/013637/06)
Share code: PPE ISIN: ZAE000071411
(“Purple Capital” or “the Company”)
TRADING STATEMENT AND CAPITAL DISTRIBUTION OUT OF SHARE PREMIUM IN LIEU OF DIVIDEND
The restructuring of the Purple Capital Group and the disposal of its interests in sports betting
(“Voltbet.com”) are complete.
Purple Capital is now focused on its core derivative trading and asset management businesses which
have produced an EBITDA of R17.9 million (prior to the deduction of R4.6 million of non-recurring
restructuring costs) for the year ended 31 August 2013, a 34.5% increase on 2012.
Our investment in Real People Investment Holdings (Pty) Limited has been written down by
R18.7million for 2013, in line with its publicly listed peers. Long term valuation prospects remain
good. The profit of R21.4 million realised on the sale of Voltbet.com, is required to be excluded in
the calculation of headline earnings per share.
In accordance with paragraph 3.4(b) of the JSE Limited’s Listings Requirements, shareholders are
therefore advised that Purple Capital is expecting a decrease in basic and headline earnings per
share from 0.48 cents to 0.28 cents and a loss of 2.25 cents per share respectively, in comparison to
the previous corresponding 12 month period.
The board of directors of Purple Capital have approved a R16.5 million capital distribution out of
share premium, by way of a reduction of Contributed Tax Capital of 2 cents per share, in lieu of a
dividend, on the ordinary shares of the Company in respect of the year ended 31 August 2013, to
Purple Capital shareholders recorded in the register on Friday 13 December 2013 (“the
Distribution”).
The directors have determined that the capital distribution shall be paid out of qualifying
contributed tax capital as contemplated in the definition of “contributed tax capital” in section 1 of
the Income Tax Act, 1962.
In accordance with the settlement procedures of Strate, the Company has determined the following
salient dates for the payment of the Distribution:
Last day to trade cum the capital distribution Friday, 6 December 2013
Shares commence trading ex the capital distribution Monday, 9 December 2013
Record date Friday, 13 December 2013
Payment of capital distribution Tuesday, 17 December 2013
Share certificates may not be dematerialised/rematerialised between Monday 9 December 2013 and
Friday 13 December 2013, both days inclusive.
Relative to this Distribution, the directors have confirmed that the Company will satisfy the solvency
and liquidity test immediately after completing the Distribution.
For income tax purposes, shareholders are advised that the Distribution will be paid out of qualifying
contributed tax capital as contemplated in the definition of “contributed tax capital” in section 1 of
the Income Tax Act, 1962, and as it will be regarded as a return of capital, consideration should be
given to the potential capital gains tax consequences. Purple Capital shareholders are, therefore,
advised to consult their tax advisors with regard to how they may be impacted by the Distribution.
The financial information on which this trading statement is based and any forward looking
statements in this announcement have not been reviewed or reported on by Purple Capital`s
auditors.
The Company’s annual results and relevant dates for the twelve months ended 31 August 2013 are
expected to be published on SENS on or about 14 November 2013.
Johannesburg
6 November 2013
Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd
Date: 06/11/2013 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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