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Cash fraction 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”)
CASH FRACTION 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 the
alternative to elect to receive a Cash Dividend of 30 cents per
ordinary Mpact share.
The ratio applicable to the Scrip Distribution entitlement was
announced on SENS on 26 August 2016, being 0.91715 Scrip
Distribution shares for every 100 ordinary Mpact shares held on
the Record Date, being Friday, 9 September 2016.
If the application of this ratio gives rise to a fraction of an
ordinary Mpact share, such fraction will be rounded down to the
nearest whole number, resulting in allocations of whole ordinary
Mpact shares and a cash payment for the fraction (“Rounding
Provision”).
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 Mpact share traded on the JSE on
Wednesday, 7 September 2016 (being the day on which an ordinary
Mpact share began trading ‘ex’ the entitlement to receive the
Scrip Distribution or Cash Dividend alternative), discounted by
10%.
Shareholders are accordingly advised that the basis applicable in
determining the cash payment for the fractional entitlement is
2985 cents.
Example of fractional 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 ordinary shares. The Rounding Provision described
above is then applied and the shareholder will receive:
9 Scrip Distribution shares in respect of the 1000 ordinary shares
held and a cash payment for the fractional entitlement of 0.1715 x
2985 = 511.9275 cents. This fractional entitlement payment will be
subject to 15% dividend withholding tax, resulting in a net cash
payment of 435.13838 cents.
Melrose Arch
Thursday, 8 September 2016
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 08/09/2016 01:36:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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