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ECSPONENT LIMITED - February 2018 monthly preference share dividend declaration and finalisation announcement

Release Date: 20/02/2018 11:17
Wrap Text
February 2018 monthly preference share dividend declaration and finalisation announcement

ECSPONENT LIMITED
Incorporated in the Republic of South Africa
Registration number: 1998/013215/06
JSE Code: ECS - ISIN: ZAE000179594

Ecsponent Pref Share A                 Ecsponent Pref Share A2                 Ecsponent Pref Share A3
JSE Code: ECSP1                        JSE Code: ECSP4                         JSE Code: ECSP7
ISIN: ZAE000196317                     ISIN: ZAE000202495                      ISIN: ZAE000210480
(“Series 1 Class A Preference          (“Series 2 Class A Preference           (“Series 3 Class A Preference
Shares”)                               Shares”)                                Shares”)

Ecsponent Pref Share A4                Ecsponent Pref Share A5
JSE Code: ECSP10                       JSE Code: ECSP13
ISIN: ZAE000217196                     ISIN: ZAE000244844
(“Series 4 Class A Preference          (“Series 5 Class A Preference
Shares”)                               Shares”)

                                    (collectively “Class A Preference Shares”)

Ecsponent Pref Share C                 Ecsponent Pref Share C2                 Ecsponent Pref Share C3
JSE Code: ECSP3                        JSE Code: ECSP6                         JSE Code: ECSP9
ISIN: ZAE000196291                     ISIN: ZAE000202511                      ISIN: ZAE000210506
(“Series 1 Class C Preference          (“Series 2 Class C Preference           (“Series 3 Class C Preference
Shares”)                               Shares”)                                Shares”)

Ecsponent Pref Share C4                Ecsponent Pref Share C5                 Ecsponent Pref Share C6
JSE Code: ECSP12                       JSE Code: ECSP15                        JSE Code: ECSP18
ISIN; ZAE000218525                     ISIN; ZAE000222501                      ISIN; ZAE000231205
(“Series 4 Class C Preference          (“Series 5 Class C Preference           (“Series 6 Class C Preference
Shares”)                               Shares”)                                Shares”)

Ecsponent Pref Share C7                Ecsponent Pref Share C8
JSE Code: ECSP21                       JSE Code: ECSP24
ISIN: ZAE000241725                     ISIN: ZAE000246757
(“Series 7 Class C Preference          (“Series 8 Class C Preference
Shares”)                               Shares”)

                                    (collectively “Class C Preference Shares”)

Ecsponent Pref Share D1                Ecsponent Pref Share E1                 Ecsponent Pref Share G1
JSE Code: ECSD1                        JSE Code: ECSE1                         JSE Code: ECSG1
ISIN: ZAE000250148                     ISIN: ZAE000250155                      ISIN: ZAE000250163
(“Series 1 Class D Preference          (“Series 1 Class E Preference           (“Series 1 Class G Preference
Shares”)                               Shares”)                                Shares”)

Ecsponent Pref Share D2                Ecsponent Pref Share E2
JSE Code: ECSD2                        JSE Code: ECSE2
ISIN: ZAE000254389                     ISIN: ZAE000254397
(“Series 2 Class D Preference          (“Series 2 Class E Preference
Shares”)                               Shares”)

FEBRUARY 2018 MONTHLY PREFERENCE SHARE DIVIDEND DECLARATION AND FINALISATION
ANNOUNCEMENT

Further to the announcements released by the Company on 14 November 2016 and 26 September 2017
(containing dividend dates), holders of Class A, Class C, Class D, Class E and Class G Preference Shares are
hereby advised that the dividend per share amount, to be paid on 12 March 2018, has been finalised.
Notice is hereby given of the declaration of the following preference dividends in respect of the period
commencing on 17 February 2018 and ending on the date dividends start trading ex-dividend, being 7 March
2018:
-        in respect of the Class A Preference Shares, a dividend at the rate of 10% per annum;
-        in respect of the Class C Preference Shares, a dividend at the rate of 14.25% per annum (being the
         prime rate plus 4%);
-        in respect of the Class D Preference Shares, a dividend at the rate of 12.5% per annum;
-        in respect of the Class E Preference Shares, a dividend at the rate of 11.25% per annum; and
-        in respect of the Class G Preference Shares, a dividend at the rate of 10% per annum.
the per share amounts of which have been disclosed below.

Relevant dates in relation to this dividend payment are set out below:
 Last day to trade to appear in the register on Record Date                                  Tuesday, 6 March 2018
 Preference shares start trading ex-dividend                                               Wednesday, 7 March 2018
 Record Date                                                                                  Friday, 9 March 2018
 Payment Date                                                                                Monday, 12 March 2018

In accordance with the requirements of Strate, no share certificates may be dematerialised or rematerialised,
between the date that the Preference Shares start trading ex-dividend, and the Record Date.

In terms of the Listings Requirements of the JSE, the following additional information is provided:
1.     The dividends have been declared from income reserves;
2.     The dividend withholding tax rate is 20%;
3.     The Company shall be entitled to an administration fee in respect of the Class D, Class E and Class G
       Preference Shares, of 0.25% per annum on the Initial Issue Price, inclusive of VAT, payable monthly in
       arrears on the Monthly Dividend Payment Dates.
4.     The administration fee is subject to the Value-Added Tax Act of 1991. The Company has the right to
       recover the monthly administration fee, from the monthly Preference Share dividend (plus the applicable
       VAT thereon).
5.     Ecsponent’s income tax number is 9235/264/84/4.

Class A and Class C Preference Shares:
The gross local dividend amounts and the net local dividend amount payable to Class A and Class C Preference
Shareholders are set out below:
                                                                Class A Preference Share   Class C Preference Share
Gross local dividend amount (cents per share)                                  76.71233                   109.31507
Net local dividend amount (cents per share)                                    61.36986                    87.45206


Class D, Class E and Class G Preference Shares:
The net distribution amounts are set out below:
Cents per share                                     Class D                   Class E               Class G
                                           Preference Share          Preference Share      Preference Share
Distributable amount to
shareholders, calculated as
follows:
   Gross local dividend declared                   95.89041                 86.30137               76.71233
   Less: Administration fee of
   0.25% of the initial Issue Price
   (as set out in the relevant
   Applicable Pricing                              (1.91781)                (1.91781)              (1.91781)
   Supplements) per annum
   inclusive of VAT to be withheld
   by the Company
   Dividend net of administration
                                                   93.97260                 84.38356               74.79452
   fee
   Less: 20% withholding tax on
                                                  (19.17808)               (17.26027)             (15.34247)
   gross dividend
   Net distributable amount to
                                                   74.79452                 67.12329               59.45205
   shareholders
Preference Shares in issue:

1.    The issued preference share capital in respect of the Series 1 Class A, Series 1 Class C, Series 1 Class
      D, Series 1 Class E and Series 1 Class G Preference Shares is as follows as at the date of this
      announcement:
      1.1 61 332 Series 1 Class A Preference Shares with a total issued capital of R5 420 099.12;
      1.2 247 100 Series 1 Class C Preference Shares with a total issued capital of R24 710 000;
      1.3 303 900 Series 1 Class D Preference Shares with a total issued capital of R30 390 000;
      1.4 354 080 Series 1 Class E Preference Shares with a total issued capital of R35 408 000; and
      1.5 9 850 Series 1 Class G Preference Shares with a total issued capital of R985 000.

2.    The issued preference share capital in respect of the Series 2 Class A and the Series 2 Class C
      Preference Shares is as follows as at the date of this announcement:
      2.1 246 946 Series 2 Class A Preference Shares with a total issued capital of R23 486 000;
      2.2 1 175 170 Series 2 Class C Preference Shares with a total issued capital of R117 517 000;
      2.3 10 000 Series 2 Class D Preference Shares with a total issued capital of R1 000 000; and
      2.4 4 300 Series 2 Class E Preference Shares with a total issued capital of R430 000.

3.    The issued preference share capital in respect of the Series 3 Class A and the Series 3 Class C
      Preference Shares is as follows as at the date of this announcement:
      3.1 50 347 Series 3 Class A Preference Shares with a total issued capital of R4 766 000; and
      3.2 1 180 016 Series 3 Class C Preference Shares with a total issued capital of R118 001 600.

4.    The issued preference share capital in respect of the Series 4 Class A and the Series 4 Class C
      Preference Shares is as follows as at the date of this announcement:
      4.1 96 784 Series 4 Class A Preference Shares with a total issued capital of R9 365 900; and
      4.2 747 063 Series 4 Class C Preference Shares with a total issued capital of R74 706 300.

5.    The issued preference share capital in respect of the Series 5 Class A and the Series 5 Class C
      Preference Shares is as follows as at the date of this announcement:
      5.1 327 660 Series 5 Class A Preference Shares with a total issued capital of R32 766 000; and
      5.2 1 171 989 Series 5 Class C Preference Shares with a total issued capital of R117 198 900.

6.    The issued preference share capital in respect of the Series 6 Class C Preference Shares is as follows as
      at the date of this announcement:
      6.1 1 345 819 Series 6 Class C Preference Shares with a total issued capital of R134 581 900.

7.    The issued preference share capital in respect of the Series 7 Class C Preference Shares is as follows as
      at the date of this announcement:
      7.1 1 021 157 Series 7 Class C Preference Shares with a total issued capital of R102 115 700.

8.    The issued preference share capital in respect of the Series 8 Class C Preference Shares is as follows as
      at the date of this announcement:
      8.1 456 200 Series 8 Class C Preference Shares with a total issued capital of R45 620 000.

The Company may issue additional Preference Shares prior to the last day to trade date.

Pretoria
20 February 2018

Sponsor
Questco Corporate Advisory (Pty) Ltd

Date: 20/02/2018 11:17:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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