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TRUWORTHS INTERNATIONAL LIMITED - Capitalisation share award with cash dividend alternative finalisation announceme

Release Date: 06/09/2016 09:45
Code(s): TRU     PDF:  
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Capitalisation share award with cash dividend alternative finalisation announceme

Truworths International Limited
(Incorporated in the Republic of South Africa)
(Registration number 1944/017491/06)
(Income tax reference number 9875/145/71/7)
JSE Code: TRU
NSX Code: TRW
ISIN: ZAE000028296
(“Truworths” or “the company”)


CAPITALISATION SHARE AWARD WITH CASH DIVIDEND ALTERNATIVE
FINALISATION ANNOUNCEMENT


Shareholders are referred to the announcement on the JSE’s Stock Exchange
News Service on Thursday, 18 August 2016 (declaration announcement), where
the company declared a capitalisation share award in respect of the 52-week
period ended 26 June 2016. The terms used in this finalisation announcement
are consistent with those used in the declaration announcement, unless
otherwise stated.


Truworths confirms that the volume-weighted average price over the three day
period ended Monday, 5 September 2016 applicable to the capitalisation share
award is R75.14923, and accordingly the number of ordinary shares to which
shareholders participating in the capitalisation share award will become entitled
to is 2.54294 new ordinary shares per 100 ordinary shares held as at the record
date.


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 a whole number of ordinary shares and a cash
payment in respect of the fraction.


As an alternative to receiving the capitalisation share award, shareholders are
entitled to elect, in respect of all or part of their shareholding, to receive a gross
cash dividend of 182 cents per ordinary share. The withholding tax, at the rate
of 15% if applicable, will result in a net cash dividend of 154.7 cents per
ordinary share.


A circular setting out full details of the capitalisation share award and cash
dividend alternative, and containing a form of election, was mailed to
shareholders on Tuesday, 23 August 2016 and is available on the company’s
website: www.truworths.co.za.


The salient dates and times relating to the capitalisation share award and cash
dividend alternative are as follows:


Event                                                                             Date

Last day to trade cum dividend in order to be
eligible for the capitalisation share award / cash                             Tuesday,
dividend alternative                                                 13 September 2016

Ordinary shares trade ex the capitalisation share                            Wednesday,
award / cash dividend alternative                                    14 September 2016

Listing of maximum possible number of new
ordinary shares that could be issued in terms of the                         Wednesday,
capitalisation share award                                           14 September 2016

Announcement of cash value applicable to payments                             Thursday,
in respect of fractions                                              15 September 2016

Last day to elect the capitalisation share award /                              Friday,
cash dividend alternative by 12:00                                   16 September 2016

Record date in respect of the capitalisation share                              Friday,
award / cash dividend alternative                                    16 September 2016

Payment of cash dividends elected by electronic                                 Monday,
funds transfer                                                       19 September 2016

Posting of share certificates to certificated                                   Monday,
shareholders                                                         19 September 2016

CSDP / broker accounts credited with the new
ordinary shares or the cash dividends due to                                    Monday,
dematerialised shareholders (where applicable)                       19 September 2016

Announcement of the results of the capitalisation                               Monday,
share award and cash dividend alternative                            19 September 2016

Maximum number of new ordinary shares listed
adjusted to reflect the actual number of new                                 Wednesday,
ordinary shares issued on or about                                   21 September 2016


Notes:
1. All times provided are South African local time.
2. Ordinary shares may not be dematerialised or re-materialised, nor may transfers between
   registers take place between Wednesday, 14 September 2016 and Friday, 16 September 2016,
   both days inclusive.


By order of the board


C Durham
Company Secretary


Cape Town
6 September 2016


Sponsor in South Africa
One Capital

Date: 06/09/2016 09:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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