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Results of the scrip distribution and the cash dividend alternative
Mpact Limited
(Incorporated in the Republic of South Africa)
(Company registration number 2004/025229/06)
JSE Share Code: MPT
JSE ISIN: ZAE 000156501
(“Mpact” or “the Company”)
RESULTS OF THE SCRIP DISTRIBUTION AND THE CASH DIVIDEND
ALTERNATIVE
Shareholders are referred to the Company’s audited financial
results for the year ended 31 December 2016, published on the
Stock Exchange News Service on 2 March 2017 and in the press
on 3 March 2017 in which they were advised of the Company’s
declaration of 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 (“the Record Date”).
As set out in the announcement, Shareholders not electing to
receive the Cash Dividend in respect of all or part of their
shareholding were entitled to receive that number of Scrip
Distribution Shares determined in the ratio of 2.13816 Scrip
Distribution shares for every 100 ordinary shares held on the
Record Date.
Where a Shareholder’s entitlement to Scrip Distribution
Shares, calculated in accordance with the above ratio, gave
rise to a fraction of a new ordinary share, such fraction of a
new ordinary share was rounded down to the nearest whole
number, resulting in allocations of whole ordinary shares and
a cash payment for the fraction. The applicable cash payment
was determined with reference to the VWAP of an ordinary Mpact
share traded on the JSE on Wednesday, 29 March 2017, (being
the day on which an ordinary Mpact share begins trading ‘ex’
the entitlement to receive the Scrip Distribution or the Cash
Dividend alternative), discounted by 10%. The applicable cash
payment was announced on SENS on Thursday, 30 March 2017.
In terms of the Scrip Distribution, 2,396,891 new ordinary
shares were issued today to Shareholders who did not elect to
receive the Cash Dividend in respect of all or part of their
shareholding, resulting in a capitalisation of the
distributable retained profits of the Company of
R72,865,486.40. Shareholders recorded in the register of the
Company at the close of business on the Record Date holding
56,372,921 ordinary shares elected to receive the gross Cash
Dividend of 65 cents per ordinary share, resulting in a total
gross Cash Dividend of R36,643,296.81, which was paid out of
the distributable retained profits of the Company.
Share certificates, where applicable, were dispatched to
certificated Shareholders at their own risk, and the Cash
Dividend payments were made/Central Securities Depository
Participant/broker accounts of dematerialised Shareholders
were credited, today.
Melrose Arch
3 April 2017
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 03/04/2017 01:12:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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