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Posting of circular relating to scrip distribution or cash dividend election
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”)
POSTING OF CIRCULAR RELATING TO SCRIP DISTRIBUTION OR CASH
DIVIDEND ELECTION
Shareholders are referred to the Company’s audited financial
results for the year ended 31 December 2016, published on the
Stock Exchange News Service (“SENS”) on 2 March 2016, in which
they were advised that Mpact’s board of directors had resolved to
declare a final distribution of fully-paid Mpact ordinary shares
of no par value (“the Scrip Distribution”) to ordinary
Shareholders (“Shareholders”) recorded in the register of the
Company at the close of business on the Record Date, being Friday,
31 March 2017.
Shareholders will, however, be entitled to elect to receive a cash
dividend of 65 cents per ordinary share of no par value held on
the Record Date, being Friday, 31 March 2017, in respect of all or
part of their ordinary shareholding, instead of the Scrip
Distribution (“the Cash Dividend”).
The Cash Dividend will be paid only to those:
- certificated Shareholders whose Forms of Election to
receive the Cash Dividend, in respect of all or part of
their shareholding, are received by the Transfer
Secretaries on or before 12h00 on Friday, 31 March 2017;
and
- dematerialised Shareholders who have instructed their
CSDP or broker accordingly and in the manner and time
stipulated in their agreement with such CSDP or broker.
The number of Scrip Distribution shares to which each of the
Shareholders will become entitled pursuant to the Scrip
Distribution (to the extent that such Shareholders have 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, being Friday, 31 March
2017) in relation to the ratio that 65 cents bears to the volume
weighted average price of an ordinary Mpact share traded on the
JSE during the 30-day trading period ending on Friday, 10 March
2017.
Shareholders are advised that a circular, setting out, inter alia,
the terms of the Scrip Distribution and Cash Dividend (and
including a Form of Election) will be posted to Shareholders
today, Wednesday, 8 March 2017 (“the Circular”). The Circular is
also available on the Company’s website, www.mpact.co.za.
The salient dates for the proposed Scrip Distribution and Cash
Dividend, also contained in the Circular, are as follows:
EVENT 2017
Announcement released on SENS in respect Monday, 13 March
of the ratio applicable to the Scrip
Distribution, based on the 30-day volume
weighted average price ending on Friday,
10 March 2017, by 11h00 on
Announcement published in the press of the Tuesday, 14 March
ratio applicable to the Scrip
Distribution, based on the 30-day volume
weighted average price ending on Friday,
10 March 2017 on
Last day to trade in order to be eligible Tuesday, 28 March
to receive the Scrip Distribution or the
Cash Dividend alternative
Ordinary shares trade “ex” the Scrip Wednesday, 29 March
Distribution and the Cash Dividend
alternative on
Listing and trading of maximum possible Wednesday, 29 March
number of ordinary shares on the JSE in
terms of the Scrip distribution from the
commencement of business on
Announcement released on SENS in respect Thursday, 30 March
of the cash payment applicable to
fractional entitlements, based on the
volume weighted average price on
Wednesday, 29 March 2017, discounted by
10%, by 11h00 on
Last day to elect to receive the Cash Friday, 31 March
Dividend alternative instead of the Scrip
Distribution, Forms of Election to reach
the Transfer Secretaries by 12h00 on
Record Date in respect of the Scrip Friday, 31 March
distribution and the Cash Dividend
alternative
Scrip Distribution certificates posted and Monday, 3 April
Cash Dividend payments made, CSDP/broker
accounts credited/updated, as applicable,
on
Announcement relating to the results of Monday, 3 April
the Scrip Distribution and the Cash
Dividend alternative released on SENS on
Announcement relating to the results of Tuesday, 4 April
the Scrip Distribution and the Cash
Dividend alternative published in the
press on
JSE listing of ordinary shares in respect Wednesday, 5 April
of the Scrip Distribution adjusted to
reflect the actual number of ordinary
shares issued in terms of the Scrip
Distribution at the commencement of
business on or about
All times provided are South African local times. The above dates and
times are subject to change. Any material change will be announced on
SENS.
Share certificates may not be dematerialised or rematerialised between
Wednesday, 29 March 2017 and Friday, 31 March 2017, both days inclusive.
Melrose Arch
8 March 2017
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 08/03/2017 04:12:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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