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Clarification Regarding Fractional Entitlement Payments in Respect of Scrip Distribution Alternative Elections
SANTOVA LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1998/018118/06)
Share code: SNV
ISIN: ZAE000159711
(“Santova” or “the Company”)
CLARIFICATION REGARDING FRACTIONAL ENTITLEMENT PAYMENTS IN RESPECT OF
SCRIP DISTRIBUTION ALTERNATIVE ELECTIONS
Trading on the JSE in the Strate environment does not permit fractions and fractional entitlements.
Accordingly, where a Shareholder’s entitlement to new Santova ordinary shares calculated in
accordance with the formula detailed in the SENS issued on 18 May 2017 gives rise to a fraction
of a new ordinary share, such fraction of a new ordinary share will be rounded down to the nearest
whole number, resulting in allocations of whole ordinary shares and a cash payment for the fraction.
In accordance with paragraph 18.1(o) of the JSE listing requirements, the applicable cash payment
will be determined with reference to the VWAP of an ordinary Santova share traded on the JSE on
Wednesday, 28 June 2017, (being the day on which an ordinary Santova share begins trading ‘ex’
the entitlement to receive the Cash Dividend or the Scrip Distribution alternative), discounted by
10%.
The applicable cash payment, together with the application of Dividend Withholding Tax to such
payment, will be announced and detailed on SENS on Thursday, 29 June 2017.
20 June 2017
Durban
Sponsor and Corporate Advisor
River Group
Date: 20/06/2017 05:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
