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MPACT LIMITED - Cash fraction applicable to the scrip distribution

Release Date: 30/03/2017 10:36
Code(s): MPT     PDF:  
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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: ZAE000156501
(“Mpact” or “the Company”)

CASH FRACTION APPLICABLE TO THE SCRIP DISTRIBUTION

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 2017 in which it
declared a final Scrip Distribution with the alternative to elect
to receive a Cash Dividend of 65 cents per ordinary Mpact share.

The ratio applicable to the Scrip Distribution entitlement was
announced on SENS on 13 March 2017, being 2.13816 Scrip
Distribution shares for every 100 ordinary Mpact shares held on
the Record Date, being Friday, 31 March 2017.

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, 29 March 2017 (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
2827 cents (3141 cents, discounted by 10%) or 2261.6 cents, net of
applicable 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 2.13816%
= 2.13816 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 of 0.13816
x 2827 = 390.57832 cents. This fractional entitlement payment will
be subject to 20% dividend withholding tax, resulting in a net
cash payment of 312.46266 cents.

Melrose Arch
Thursday, 30 March 2017

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 30/03/2017 10:36:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
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