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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)
Income tax number: 9003862175
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 unaudited interim
financial results for the six months ended 30 June 2016, published
on the Stock Exchange News Service (“SENS”) on 11 August 2016 in
which it declared an interim Scrip Distribution with a Cash
Dividend alternative.
A circular setting out the terms of the Scrip Distribution and
Cash Dividend alternative, including a Form of Election, (“the
Circular”) was posted to shareholders on 15 August 2016, as
announced on SENS on the same date.
Shareholders are advised that 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 30 cents bears to 3271 cents, representing the volume
weighted average price (“VWAP”) of an ordinary Mpact share traded
on the JSE during the 30-day period ended on Thursday, 25 August
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 0.91715 Scrip
Distribution shares for every 100 ordinary shares held on the
Record Date per the formula below:
100 x 30 cents
______________
3271 cents = 0.91715
(subject to the Rounding Provision describe below)
Where a Shareholder’s entitlement to new Mpact ordinary shares
calculated in accordance with the above formula gives rise to a
fraction of a new ordinary share, such fraction of a new ordinary
share will be rounded down to the nearest whole number, resulting
in allocations of whole shares and a cash payment for the fraction
(“Rounding Provision”).
The cash payment will be determined with reference to the VWAP of
an ordinary Mpact share traded on the JSE on Wednesday, 7
September 2016 (being the day on which an ordinary Mpact share
begins trading ‘ex’ the entitlement to receive the Scrip
Distribution or Cash Dividend alternative), discounted by 10%. The
applicable cash payment will be announced on SENS on Thursday, 8
September 2016.
Example of Scrip Distribution entitlement:
This example assumes that a Shareholder holds 1000 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 = 1000 x 0.91715%
= 9.1715 new shares
(then apply the Rounding Provision)
= 9 Scrip Distribution shares in respect of the 1000 ordinary
shares held and a cash payment for the fraction.
Melrose Arch
26 August 2016
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 26/08/2016 12:47:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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