Wrap Text
Posting of circular relating to scrip distribution or cash dividend election
LIFE HEALTHCARE GROUP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2003/002733/06)
ISIN: ZAE000145892
Share Code: LHC
(“Life Healthcare or “the Company”)
POSTING OF CIRCULAR RELATING TO SCRIP DISTRIBUTION OR CASH DIVIDEND ELECTION
Shareholders are referred to the Company’s audited financial results for the year ended 30 September
2015, released on the Stock Exchange News Service (“SENS”) on 13 November 2015 (“Results
Announcement”), in which they were advised that Life’s board of directors had resolved to declare a final
distribution of fully?paid Life ordinary shares of R0.000001 (“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, 11 December 2015.
Shareholders will, however, be entitled to elect to receive a cash dividend of 86 cents per ordinary share of
R0.000001 on the Record Date, being Friday, 11 December 2015, in respect of all or part of their ordinary
shareholding, instead of the Scrip Distribution (“the Cash Dividend”).
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, 11
December 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 of the Shareholders will become entitled pursuant to
the Scrip Distribution (to the extent that such Shareholders have not elected to receive the Cash Dividend)
will be determined by reference to such Shareholder’s ordinary shareholding in Life (at the close of
business on the Record Date, being Friday, 11 December 2015) in relation to the ratio that 86 cents
multiplied by 1.025 bears to the volume weighted average price (“VWAP”) of an ordinary Life share traded
on the JSE during the 15?day trading period ending on Thursday, 26 November 2015. The application of the
1.025 factor in the Scrip Distribution pricing mechanism is intended to incorporate a 2.5% discount on the
15?day VWAP for Shareholders not electing to receive the Cash Dividend Alternative.
Shareholders are advised that a circular, setting out, inter alia, the terms of the Scrip Distribution and Cash
Dividend (and including a Form of Election) will be posted to shareholders today, Thursday, 19 November
2015 (“the Circular”). The Circular is also available on the Company’s website, www.lifehealthcare.co.za.
The salient dates for the proposed Scrip Distribution and Cash Dividend, also contained in the Circular, are
as follows:
EVENT 2015
Announcement released on SENS in respect of the ratio applicable Friday, 27 November
to the Scrip Distribution, based on the 15?day volume weighted
average price ending on Thursday, 26 November, by 11h00 on
Announcement published in the press of the ratio applicable to the Monday, 30 November
Scrip Distribution, based on the 15?day volume weighted average
price ending on Thursday, 26 November 2015 on
Last day to trade in order to be eligible for the Scrip Distribution and Friday, 4 December
the Cash Dividend alternative
Ordinary shares trade “ex” the Scrip Distribution and the Cash Monday, 7 December
Dividend alternative on
Listing and trading of maximum possible number of ordinary shares Monday, 7 December
on the JSE in terms of the Scrip Distribution from the
commencement of business on
Last day to elect to receive the Cash Dividend alternative instead of Friday, 11 December
the Scrip Distribution, Forms of Election to reach the Transfer
Secretaries by 12h00 on
Record Date in respect of the Scrip distribution and the Cash Friday, 11 December
Dividend alternative
Scrip Distribution shares issued to shareholders on the South African Monday, 14 December
register and Scrip Distribution, certificates posted and Cash Dividend
payments made, CSDP/broker accounts credited/updated, as
applicable, on
Announcement relating to the results of the Scrip Distribution and Monday, 14 December
the Cash Dividend alternative released on SENS on
Announcement relating to the results of the Scrip Distribution and Tuesday, 15 December
the Cash Dividend alternative published in the press on
JSE listing of ordinary shares in respect of the Scrip Distribution Thursday, 17 December
adjusted to reflect the actual number of ordinary shares issued in
terms of the Scrip Distribution at the commencement of business on
or about
All times provided are South African local times. The above dates and times are subject to change. Any material
change will be announced on SENS.
Share certificates may not be dematerialised or rematerialized between Monday, 7 December 2015 and Friday, 11
December 2015, both days inclusive.
Illovo
19 November 2015
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 19/11/2015 07:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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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.