Wrap Text
Posting of circular relating to scrip distribution or cash dividend election
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”)
POSTING OF CIRCULAR RELATING TO SCRIP DISTRIBUTION OR CASH
DIVIDEND ELECTION
Shareholders are referred to the Company’s unaudited financial
results for the six months ended 31 March 2017, published on the
Stock Exchange News Service (“SENS”) on 12 May 2017, in which they
were advised that Life’s board of directors had resolved to
declare an interim distribution of fully-paid Life ordinary shares
of R0.000001 each (“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,
30 June 2017.
Shareholders will, however, be entitled to elect to receive a cash
dividend of 35 cents per ordinary share of R0.000001 each held on
the Record Date, being Friday, 30 June 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, 30 June 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 Life (at
the close of business on the Record Date, being Friday, 30 June
2017) in relation to the ratio that 35 cents multiplied by 1.025
bears to the volume weighted average price (“VWAP”) of an ordinary
Life share traded on the JSE during the 15-day trading period
ending on Monday, 19 June 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, Monday, 5
June 2017 (“the Circular”). The Circular is also available on the
Company’s website, www.lifehealthcare.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 of the Tuesday, 20 June
ratio applicable to the Scrip Distribution,
based on the 15-day volume weighted average
price ending on Monday, 19 June 2017, by 11h00
on
Announcement published in the press of the ratio Wednesday, 21 June
applicable to the Scrip Distribution, based on
the 15-day volume weighted average price ending
on Monday, 19 June 2017 on
Last day to trade in order to be eligible for Tuesday, 27 June
the Scrip Distribution and the Cash Dividend
alternative
Ordinary shares trade “ex” the Scrip Wednesday, 28 June
Distribution and the Cash Dividend alternative
on
Listing and trading of maximum possible number Wednesday, 28 June
of ordinary shares on the JSE in terms of the
Scrip Distribution from the commencement of
business on
Announcement released on SENS in respect of the Thursday, 29 June
cash payment applicable to fractional
entitlements, based on the volume weighted
average price of an ordinary Life share traded
on the JSE on Wednesday, 28 June 2017,
discounted by 10%
Last day to elect to receive the Cash Dividend Friday, 30 June
alternative instead of the Scrip Distribution,
Forms of Election to reach the Transfer
Secretaries by 12h00 on
Record Date in respect of the Scrip Distribution Friday, 30 June
and the Cash Dividend alternative
Scrip Distribution certificates posted and Cash Monday, 3 July
Dividend payments made, CSDP/broker accounts
credited/updated, as applicable, on
Announcement relating to the results of the Monday, 3 July
Scrip Distribution and the Cash Dividend
alternative released on SENS on
Announcement relating to the results of the Tuesday, 4 July
Scrip Distribution and the Cash Dividend
alternative published in the press on
JSE listing of ordinary shares in respect of the Wednesday, 5 July
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 in this Circular 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, 28 June 2017 and Friday, 30 June 2017, both days inclusive.
Illovo
5 June 2017
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 05/06/2017 12:21:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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