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Cash fraction applicable to the scrip distribution
THE FOSCHINI GROUP LIMITED
Registration number 1937/009504/06
Share code: TFG – TFGP
ISIN: ZAE000148466 – ZAE000148516
(“TFG”)
CASH FRACTION APPLICABLE TO THE SCRIP DISTRIBUTION
Shareholders are referred to the announcements released on the Stock
Exchange News Service (“SENS”) on 26 May 2016 and 11 July 2016
respectively, 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 ratio applicable to the scrip distribution entitlement was announced on
SENS on 11 July 2016, being 2.93148 shares for every 100 ordinary TFG
shares held on the record date, being Friday, 22 July 2016.
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.
In accordance with the requirements of the JSE Limited, the cash payment
has been determined with reference to the volume weighted average price of
an ordinary TFG share traded on the JSE on Wednesday, 20 July 2016 (being
the day on which a TFG ordinary share began trading ‘ex’ the entitlement to
receive the scrip distribution or cash dividend alternative), discounted by
10%.
Shareholders are accordingly advised that the applicable cash payment per
fractional entitlement is R128.61.
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 alternative in respect of all or part of their shareholding.
New ordinary share entitlement = 100 x 2.93148% = 2.93148 new ordinary
shares
(then apply the Rounding Provision described above)
= 2 scrip distribution shares in respect of the 100 ordinary shares held;
and a cash payment for the fractional entitlement based on the R128.61
noted above of 0.93148 x R128.61 = R119.79.
Cape Town
21 July 2016
Sponsor:
UBS South Africa Proprietary Limited
Date: 21/07/2016 02:22:00 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.
