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JSE LIMITED - Amalgamated ElecCorp Ltd(AER) Settlement of Secequip loan & payment of special cash div to Amecor scheme participant

Release Date: 17/02/2017 10:45
Code(s): JSER     PDF:  
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Amalgamated ElecCorp Ltd(AER) Settlement of Secequip loan & payment of special cash div to Amecor scheme participant

Amalgamated Electronic Corporation Limited
Incorporated in the Republic of South Africa
(Registration number 1997/010036/06)
Share code: AER ISIN: ZAE000070587 (delisted)
(“Amecor” or “the Company”)

  SETTLEMENT OF SECEQUIP LOAN AND PAYMENT OF SPECIAL CASH DIVIDEND TO
                     AMECOR SCHEME PARTICIPANTS

Amecor Scheme Participants are referred to the combined Circular issued to Amecor Shareholders
on 14 September 2016 (and using the terms defined therein unless otherwise stated) in terms
whereof, following the implementation of the Scheme, the Scheme Participants, recorded as such
on the Scheme Record Date, will retain the right to receive the Secequip Distributions pro rata to
their shareholding in the Company as at the Scheme Record Date.

Amecor Scheme Participants are hereby advised that the Secequip Loan Administrator has
negotiated a full and final settlement with Secequip in respect of the Secequip Loan. The Secequip
Proceeds amount to R12 022 149, of which an amount of approximately R200 000 is being
withheld as a possible Adjustment for six months. If such Adjustment does not materialise, the
amount so withheld will also be distributed to Scheme Participants.

In terms of the Circular, the declared gross special dividend of 17.070 cents per Amecor share
held at the Scheme Record Date, will be paid to Amecor Scheme Participants from the Secequip
Proceeds on Monday, 27 February 2017.

The current local Dividend Withholding Tax (“DWT”) rate is 15%. The gross local dividend amount
is 17.070 cents per share for shareholders exempt from paying DWT whilst the net local dividend
payable is 14.5095 cents per share for shareholders liable to pay DWT. The issued share capital
of Amecor at the Scheme Record Date was 70 430 401 shares. The board of directors of Amecor
has reasonably concluded that Amecor will satisfy the solvency and liquidity test immediately after
distribution of the special dividend and for the next 12 months. Amecor’s income tax reference
number is 9381483842.


Johannesburg
17 February 2017

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