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Declaration Announcement: Special dividend to ordinary shareholders
Invicta Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1966/002182/06)
Ordinary Share code: IVT ISIN code: ZAE000029773
Preference Share code: IVTP ISIN: ZAE000173399
(“Invicta” or “the Company”)
DECLARATION ANNOUNCEMENT: SPECIAL DIVIDEND TO ORDINARY
SHAREHOLDERS
Ordinary shareholders are hereby advised that the board of
directors of the Company has, subject to approval from the South
African Reserve Bank (“SARB Condition”), declared a gross
special ordinary cash dividend of 2 024,33321 cents per ordinary
share payable to ordinary shareholders on Monday, 2 February
2015.
The gross special ordinary cash dividend declared will be paid
from income reserves. The dividend withholding tax ("DWT") rate
is 15%. The Company will utilise a STC Credit (as defined in
section 64D of the Income Tax Act) of R1 500 000 000. The Company
will reduce its STC Credit by an amount of 2 024,33321 cents per
ordinary share resulting in a net dividend of 2 024,33321 cents
per ordinary share to those ordinary shareholders who are not
exempt from dividend tax. The total STC Credit to be utilised
as part of this dividend declaration amounts to R 1 499 999 997,
being 2 024,33321 cents per ordinary share. In terms of section
64(4)(b) of the Income Tax Act no DWT is payable by ordinary
shareholders who are not exempt from DWT. In terms of section
64J(2)(b) of the Income Tax Act, ordinary shareholders which are
companies will obtain an STC Credit arising from the dividend
received. The dividend will reduce the Company’s STC Credit at
the time of the dividend from R1 500 000 000 to R3. The net
amount payable to ordinary shareholders is R1 499 999 997, being
2 024,33321 cents per ordinary share based on the current number
of 74 098 473 ordinary shares with a par value of R0.05 (five
cents) in issue after deducting ordinary shares held in
treasury. The directors have reasonably concluded that the
Company will satisfy the solvency and liquidity test immediately
after the dividend distribution. The income tax reference number
of Invicta is 9400/012/03/6.
Proposed salient dates and times
Subject to fulfilment of the SARB Condition, ordinary
shareholders should take note of the following proposed salient
dates and times for the payment of the dividend:
2015
Finalisation data to Friday, 16 January
be released on SENS
Last day to trade (“cum” the Friday, 23 January
February 2015 dividend) in order
to participate in the dividend
Ordinary shares start trading “ex” Monday, 26 January
the February 2015 dividend
Record date for purposes of Friday, 30 January
determining the registered
holders of Invicta ordinary shares
to participate in the dividend
at close of business on
Payment date Monday, 2 February
Ordinary share certificates may not be dematerialised or
rematerialized between Monday, 26 January 2015 and Friday, 30
January 2015, both dates included.
GM Chemaly
Company Secretary
Cape Town
9 January 2015
Corporate Advisor and Lead Transaction Sponsor: Bravura Capital
(Proprietary) Limited
Lead Independent Sponsor: Deloitte & Touche Sponsor Services
(Proprietary) Limited
Tax Advisors: Edward Nathan Sonnenbergs Inc.
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