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THE FOSCHINI GROUP LIMITED - Finalisation announcement

Release Date: 11/07/2016 11:59
Code(s): TFG TFGP     PDF:  
Wrap Text
Finalisation announcement

THE FOSCHINI GROUP LIMITED
Registration number 1937/009505/06
Share code: TFG – TFGP
ISIN: ZAE000148466 – ZAE000148516
(“TFG”)

Finalisation announcement

TFG shareholders are referred to the announcement released on SENS on 26
May 2016 wherein shareholders were advised that TFG declared a final
distribution for the year ended 31 March 2016 by way of the issue of fully
paid ordinary shares of 1,25 cents each as a capitalisation issue or scrip
distribution payable to ordinary shareholders recorded in the register on
the record date, being Friday 22 July 2016 (“scrip distribution”). As an
alternative to receiving the scrip distribution, ordinary shareholders will
be entitled, in respect of all or part of their shareholding, to elect to
receive a gross cash dividend of 385,0 cents per ordinary share in lieu of
the scrip distribution, which will be paid only to those ordinary
shareholders who elect to receive the cash dividend in respect of all or
part of their shareholding, on or before 12h00 on 22 July 2016 (“cash
dividend alternative”).


The number of ordinary shares to which shareholders participating in the
scrip distribution will become entitled to is confirmed in the ratio that
385,0 cents multiplied by a factor of 1.05 bears to the volume-weighted
average price (“VWAP”) of the ordinary shares on the JSE during the 5-day
trading period ending on 8 July 2016. The VWAP is confirmed as being
R137.90 hence the number of ordinary shares to which shareholders
participating in the scrip distribution will become entitled is 2.93148
shares per one hundred shares held.

Where the application of the ratio gives rise to a fraction of a new
ordinary share, such fraction will be rounded down to the nearest whole
number, resulting in the allocation of whole ordinary shares and a cash
payment of a fraction.


The circular related to the scrip distribution and the cash dividend
alternative was posted to TFG ordinary shareholders on Monday, 11 July
2016. The circular is also available on TFG’s website: www.tfglimited.co.za


For ease of reference, the applicable dates are unchanged and are detailed
below:


EVENT                                               DATE 2016
Circular and form of election posted to ordinary    Monday, 11 July 2016
shareholders:
Finalisation date: Announcement of ratio            Monday, 11 July 2016
applicable to the scrip distribution, based on
the 5 day VWAP ending on Friday,8 July 2016,
released on SENS by 11:00 on:
Last day to trade in order to be eligible for the   Tuesday, 19 July 2016
scrip distribution/cash dividend alternative
(“CUM” scrip distribution/cash dividend
alternative):
Determination of the cash value in relation to     Wednesday, 20 July 2016
fractional entitlements:
Ordinary shares trade “EX” the scrip               Wednesday, 20 July 2016
distribution/cash dividend alternative:
Listing of maximum possible number of new          Wednesday, 20 July 2016
ordinary shares that could be issued in terms of
the scrip distribution:
Announcement on SENS regarding the cash value in   Thursday, 21 July 2016
relation to fractional entitlements:
Last day to elect the cash dividend alternative    Friday, 22 July 2016
instead of the scrip distribution by 12:00:
Record date in respect of the scrip                Friday, 22 July 2016
distribution/cash dividend alternative:
Ordinary share certificates, electronic funds      Monday 25, July 2016
transfers and/or dividend cheques posted and
Central Securities Depository Participant
(CSDP)/broker accounts credited/updated (payment
date)
Maximum number of new ordinary shares listed       Wednesday, 27 July 2016
adjusted to reflect the actual number of new
ordinary shares issued, on or about:


All times provided in this announcement are South African local time. The
above dates and times are subject to change. Any changes will be released
on SENS and published in the South African press.

Ordinary share certificates may not be dematerialised or rematerialised,
nor may transfers between registers take place between Wednesday, 20 July
2016 and Friday, 22 July 2016, both days inclusive.



Cape Town

11 July 2016

Sponsor:

UBS South Africa Proprietary Limited

Date: 11/07/2016 11:59:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
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.

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