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MPACT LIMITED - Ratio applicable to the scrip distribution

Release Date: 29/08/2017 11:00
Code(s): MPT     PDF:  
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Ratio applicable to the scrip distribution

Mpact Limited
(Incorporated in the Republic of South Africa)
(Company registration number 2004/025229/06)
Income tax number: 9003862175
JSE Share Code: MPT
JSE ISIN: ZAE 000156501
(“Mpact” or “the Company”)

RATIO APPLICABLE TO THE SCRIP DISTRIBUTION

Shareholders are referred to the Company’s unaudited interim
financial results for the six months ended 30 June 2017, published
on the Stock Exchange News Service (“SENS”) on 8 August 2017 and
in the press on 10 August 2017, in which they were advised of the
Company’s declaration of an interim 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, 8 September 2017 (“Record Date”).

Shareholders will, however, be entitled to elect to receive a cash
dividend of 15 cents per ordinary share of no par value held on
the Record Date in respect of all or part of their ordinary
shareholding, instead of the Scrip Distribution (“the Cash
Dividend”).

A circular setting out the terms of the Scrip Distribution and
Cash Dividend alternative, including a Form of Election, was
posted to shareholders on Tuesday, 15 August 2017.

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, 8 September
    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 Shareholder
will become entitled pursuant to the Scrip Distribution (to the
extent that such Shareholder has not elected to receive the Cash
Dividend) will be determined by reference to such Shareholder’s
ordinary shareholding in Mpact (at the close of business on the
Record Date) in relation to the ratio that 15 cents bears to 2728
cents, representing the volume weighted average price (“VWAP”) of
an ordinary Mpact share traded on the JSE during the 30-day
trading period ended on Monday, 28 August 2017. The ratio of Scrip
Distribution shares to which each Shareholder will become entitled
pursuant to the Scrip Distribution (to the extent that such
Shareholder has not elected to receive the Cash Dividend) is
therefore 0.54985 Scrip Distribution shares for every 100 ordinary
shares held on the Record Date.

Where the application of this ratio gives rise to a fraction of an
ordinary share, such fraction will be 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 will be determined with reference to
the VWAP of an ordinary Mpact share traded on the JSE on
Wednesday, 6 September 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 will be announced on SENS on Thursday,
7 September 2017.

Example of Scrip Distribution entitlement:
This example assumes that a Shareholder holds 100 ordinary shares
at the close of business on the Record Date and does not elect to
receive the Cash Dividend in respect of all or part of their
shareholding.

New ordinary share entitlement =
100 x 15 cents
2728 cents
= 0.54985 new share
(then apply the Rounding Provision described above)
= 0 Scrip Distribution shares in respect of the 100 ordinary
shares held and a cash payment for the fraction

Melrose Arch
29 August 2017

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 29/08/2017 11:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
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.

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