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Ratio applicable to the scrip distribution
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”)
RATIO APPLICABLE TO THE SCRIP DISTRIBUTION
Shareholders are referred to the Company’s audited financial
results for the year ended 31 December 2015, published on the
Stock Exchange News Service on 2 March 2016 and in the press on 3
March 2016 in which they were advised of the Company’s declaration
of a final 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, 15 April 2016
(“the Record Date”).
Shareholders will, however, be entitled to elect to receive a cash
dividend of 80 cents per ordinary share of no par value held on
the Record Date, 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 16 March 2016.
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 80 cents bears to 4695
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, 31 March 2016. 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 1.70394 Scrip Distribution shares for every 100 ordinary
shares held on the Record Date.
Where the application of this ratio gives rise to a fraction of an
ordinary share, such fraction will be rounded up to the nearest
whole number, if the fraction is 0.5 or more, and rounded down to
the nearest whole number, if the fraction is less than 0.5.
Example of Scrip Distribution entitlement:
This example 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 80 cents
______________
4695 cents
= 1.70394 new shares
(then apply the Rounding Provision described above)
= 2 Scrip Distribution shares in respect of the 100 ordinary
shares held.
Melrose Arch
1 April 2016
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 01/04/2016 11:02:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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