METROFILE HOLDINGS LIMITED - Dividend Cover and Debt Levels

Dividend Cover and Debt Levels

Metrofile Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1983/012697/06)
Share code: MFL
ISIN Code: ZAE000061727
("Metrofile Holdings" or "the Company")

DIVIDEND COVER AND DEBT LEVELS

Shareholders were advised in June 2013 that the Board was of the view that
to optimise shareholder returns, interest bearing debt should be maintained
at levels in excess of 1,5 times EBITDA.

The group continues to be highly cash generative and current borrowing levels 
remain below target. The Board has assessed the business acquisition and property 
program for the period ahead and is pleased to advise shareholders that:

  -   Dividend cover will be reduced immediately to 1,75 times, and

  -   The Group will implement a policy of acquiring sufficient shares
      through the market on an ongoing basis to meet the requirements 
      of the Group’s long term incentive schemes and eliminate the dilution
      resulting from issuing new shares to satisfy scheme requirements.

These decisions and additional possible measures will remain under
continual review by the Board.


Senderwood
19 November 2014

Sponsor
The Standard Bank of South Africa Limited

Date: 19/11/2014 11:17:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.