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MPACT LIMITED - Results of the scrip distribution and the cash dividend alternative

Release Date: 07/09/2015 11:21
Code(s): MPT     PDF:  
Wrap Text
Results of the scrip distribution and the cash dividend alternative

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

RESULTS OF    THE   SCRIP   DISTRIBUTION   AND   THE   CASH   DIVIDEND
ALTERNATIVE

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”).

As set out in the announcement, Shareholders not electing to
receive the Cash Dividend in respect of all or part of their
shareholding were entitled to receive that number of Scrip
Distribution Shares determined in the ratio of 0.65246 Scrip
Distribution shares for every 100 ordinary shares held on the
Record Date. Where a Shareholder’s entitlement to Scrip
Distribution Shares, calculated in accordance with the above
ratio, gave rise to a fraction of a new ordinary share, such
fraction of a new ordinary share was rounded up to the nearest
whole number where the fraction was greater than or equal to
0,5 and rounded down to the nearest whole number where the
fraction was less than 0,5.

In terms of the Scrip Distribution, 627 384 new ordinary
shares were issued today to Shareholders who did not elect to
receive the Cash Dividend in respect of all or part of their
shareholding, resulting in a capitalisation of the
distributable retained profits of the Company of
R28 847 116.32. Shareholders recorded in the register of the
Company at the close of business on the Record Date holding
69 171 937 ordinary shares elected to receive the gross Cash
Dividend of 30 ZAR cents per ordinary share, resulting in a
total gross Cash Dividend of R20 751 597.60, which was paid
out of the distributable retained profits of the Company.

Share certificates, where applicable, were dispatched to
certificated Shareholders at their own risk, and the Cash
Dividend payments were made/Central Securities Depository
Participant/broker accounts of dematerialised Shareholders
were credited, today.

Melrose Arch
7 September 2015

Merchant bank and sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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