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Results of the Scrip Distribution and the Cash Dividend alternative
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")
RESULTS OF THE SCRIP DISTRIBUTION AND THE CASH DIVIDEND
ALTERNATIVE
Shareholders are referred to the Company’s unaudited interim
financial results for the six months ended 31 March 2017,
published on the Stock Exchange News Service ("SENS") on 12
May 2017 and in the press on 15 May 2017, in which they were
advised of the Company’s declaration of 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 ("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 1.32772 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 Life
share traded on the JSE on Wednesday, 28 June 2017, (being the
day on which an ordinary Life share began 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, 29 June 2017.
In terms of the Scrip Distribution, 8 450 256 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 R222 784
094.75. Shareholders recorded in the register of the Company
at the close of business on the Record Date holding 804 413
889 ordinary shares elected to receive the gross Cash Dividend
of 35 cents per ordinary share, resulting in a total gross
Cash Dividend of R281 544 861.15, 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.
Illovo
3 July 2017
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 03/07/2017 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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