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MPACT LIMITED - Ratio applicable to the scrip distribution

Release Date: 21/08/2015 08:31
Code(s): MPT     PDF:  
Wrap Text
Ratio applicable to the scrip distribution

Mpact Limited
(Incorporated in the Republic of South Africa)
(Company registration number 2004/025229/06)
Income tax number: 9003862175
JSE Share Code: MPT
JSE ISIN: ZAE 000156501
(“Mpact” or “the Company”)

RATIO APPLICABLE TO THE SCRIP DISTRIBUTION

Shareholders are referred to the Company’s unaudited interim
financial results for the six months ended 30 June 2015, published
on the Stock Exchange News Service on 12 August 2015 and in the
press on 13 August 2015 in which they were advised of the
Company’s declaration of an interim distribution of fully-paid
Mpact ordinary shares of no par value (“the Scrip Distribution”)
to ordinary shareholders (“Shareholders”) recorded in the register
of the Company at the close of business on the Record Date, being
Friday, 4 September 2015 (“the Record Date”).

Shareholders will, however, be entitled to elect to receive a cash
dividend of 30 cents per ordinary share of no par value held on
the Record Date in respect of all or part of their ordinary
shareholding, instead of the Scrip Distribution (“the Cash
Dividend”).

A circular setting out the terms of the Scrip Distribution and
Cash Dividend alternative, including a Form of Election, was
posted to shareholders on 14 August 2015.

The Cash Dividend will be paid only to those:

 -   certificated Shareholders whose Forms of Election to
     receive the Cash Dividend, in respect of all or part of
     their shareholding, are received by the Transfer
     Secretaries on or before 12h00 on Friday, 4 September
     2015; and
 -   dematerialised Shareholders who have instructed their
     CSDP or broker accordingly and in the manner and time
     stipulated in their agreement with such CSDP or broker.

The number of Scrip Distribution shares to which each Shareholder
will become entitled pursuant to the Scrip Distribution (to the
extent that such Shareholder has not elected to receive the Cash
Dividend) will be determined by reference to such Shareholder’s
ordinary shareholding in Mpact(at the close of business on the
Record Date) in relation to the ratio that 30 ZAR cents bears to
4598 ZAR cents, representing the volume weighted average price of
an ordinary Mpact share traded on the JSE during the 30-day
trading period ending on Thursday, 20 August 2015. The ratio of
Scrip Distribution shares to which each Shareholder will become
entitled pursuant to the Scrip Distribution (to the extent that
such Shareholder has not elected to receive the Cash Dividend) is
therefore 0.65246 Scrip Distribution shares for every 100 ordinary
shares held on the Record Date.

If the application of this ratio gives rise to a fraction of an
ordinary share, no fractional entitlement shall arise and the
result of such calculation will be rounded up to the nearest whole
number where the fraction is greater than or equal to 0.5 and
rounded down to the nearest whole number where the fraction is
less than 0.5 (the “Rounding Provision”).

Scrip Distribution entitlement:
The formula below assumes that a Shareholder holds 100 ordinary
shares at the close of business on the Record Date and does not
elect to receive the Cash Dividend in respect of all or part of
their shareholding.

New ordinary share entitlement =
100 x 30 ZAR cents
--------------------
4598 ZAR cents
= 0.65246 new shares
(then apply the Rounding Provision described above)
= 1 Scrip Distribution share[s] in respect of the 100 ordinary
shares held.

Melrose Arch
21 August 2015

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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