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Cash payment applicable to the scrip distribution
Life Healthcare Group Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2003/002733/06)
ISIN: ZAE000145892
Share Code: LHC
("Life" or "the Company")
Cash payment applicable to the scrip distribution
Shareholders are referred to the Company’s audited financial
results for the year ended 30 September 2016, released on the
Stock Exchange News Service (“SENS”) on 11 November 2016, in which
they were advised that Life’s board of directors had resolved to
declare a final Scrip Distribution of fully-paid Life ordinary
shares of R0.000001, with the alternative to elect to receive a
Cash Dividend of 92 cents per ordinary Life share.
The ratio applicable to the Scrip Distribution entitlement was
announced on SENS on 5 December 2016, being 2,96728 Scrip
Distribution shares for every 100 Life ordinary shares held on the
Record Date, being Thursday, 15 December 2016.
If the application of this ratio gives rise to a fraction of a
Life ordinary share, such fraction of a new Life ordinary share
will be rounded down to the nearest whole number, resulting in
allocations of whole Life ordinary 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 a Life ordinary share traded on the JSE on
Tuesday, 13 December 2016 (being the day on which a Life 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 basis applicable in
determining the cash payment for the fractional entitlement is
2826 cents (2402 cents net of dividend withholding tax).
Example of fractional 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 in respect of all or part of their
shareholding.
New ordinary share entitlement = 100 x 2,96728%
= 2,96728 new ordinary shares. The Rounding Provision described
above is then applied and the shareholder will receive:
2 Scrip Distribution shares in respect of the 100 ordinary shares
held and a cash payment for the fractional entitlement based on
the 2826 cents noted above of 0.96728 x 2826 = 2734 cents.
This fractional entitlement payment will be subject to 15%
dividend withholding tax, resulting in a net cash payment of 2324
cents.
Illovo
14 December 2016
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 14/12/2016 12:12:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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