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Cash fraction applicable to scrip distribution alternative
SANTOVA LIMITED
("Santova" or "the Company")
Registration number: 1998/018118/06
Share code: SNV
ISIN: ZAE000159711
CASH FRACTION APPLICABLE TO SCRIP DISTRIBUTION ALTERNATIVE
Shareholders are referred to the dividend announcement for the year ended 28 February
2017, published on SENS on 18 May 2017 in which a Cash Dividend with the option to elect
to receive a Scrip Distribution Alternative was declared.
The ratio applicable to the Scrip Distribution entitlement was announced on SENS on 18
May 2017, being 1.972 Scrip Distribution shares for every 100 ordinary Santova shares held
on the Record Date, being Friday, 30 June 2017.
If the application of this ratio gives rise to a fraction of an ordinary Santova share (fractional
entitlement), such fraction will be rounded down to the nearest whole number, resulting in
allocations of whole ordinary Santova shares and a cash payment for the fraction.
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 Santova
share traded on the JSE on Wednesday, 28 June 2017 (being the day on which ordinary
Santova shares began trading 'ex' the entitlement to receive the Cash Dividend or Scrip
Distribution Alternative), discounted by 10%. This fractional entitlement payment may have
tax implications for shareholders and for South African resident shareholders it may be
subject to South African dividend withholding tax at a rate of 20%, unless the shareholder is
exempt.
Shareholders are accordingly advised that the basis applicable in determining the cash payment
for the fractional entitlement is 295,93951 cents (328,82168 cents, discounted by 10%) or
236.75161 cents, net of applicable dividend withholding tax.
Example of fractional entitlement:
Assuming that a shareholder holds 100 ordinary shares at the close of business on the
Record Date and elects to receive the Scrip Distribution Alternative in respect of all of their
shareholding. Applying the rounding principles, the shareholder will receive 1 Scrip
Distribution share in respect of the 100 ordinary shares held and a cash payment for the
fractional entitlement of 0.972 x 295.93951 = 287.65320 cents, resulting in a net after tax
cash payment of 230.12256 cents, unless the shareholder is exempt.
The salient dates and times announced on 18 May 2017 remain unchanged.
29 June 2017
Johannesburg
Sponsor and Corporate Advisor
River Group
Date: 29/06/2017 04:19:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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