MICROMEGA HOLDINGS LIMITED - Declaration of Interim Special Dividend

Release Date: 03/04/2018 16:39
Code(s): MMG
 
Wrap Text
Declaration of Interim Special Dividend

MICROmega Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 1998/003821/06)
Share code: MMG ISIN: ZAE000034435
(“MICROmega” or “the Company”)


DECLARATION OF INTERIM SPECIAL DIVIDEND


Shareholders are referred to the announcements released on SENS on 13 October 2017 and
20 February 2018 and the circular distributed to shareholders on 18 January 2018 (“Circular”). Terms
defined in the Circular shall, unless otherwise stated, bear the same meaning in this announcement.

Shareholders are reminded that, as per the Circular, the net proceeds of the Disposal will mainly be utilised
to pay a special cash dividend to shareholders.

Accordingly, notice is hereby given that the Directors have declared a gross interim special cash dividend of
300 cents per share (“Interim Special Dividend”) and have elected to declare a further special cash dividend
upon finalisation of the Purchase Price, which is subject to adjustment based on 2018 EBITDA.

The Interim Special Dividend is payable to all shareholders on the Register of Members on Friday,
20 April 2018. In terms of the dividends tax, effective 1 April 2012, the following additional information is
disclosed:

 -    this is a dividend as defined in the Income Tax Act, 1962;
 -    the local dividend tax rate is 20%;
 -    the dividends will be payable from the proceeds received in respect of the NOSA disposal;
 -    the dividend tax to be withheld by the company amounts to 60 cents per share;
 -    therefore the net dividend payable to shareholders who are not exempt from dividends tax amounts to
      240 cents per share, while the gross dividend payable to shareholders who are exempt from
      dividends tax amounts to 300 cents per share;
 -    the issued share capital of the company at the declaration date comprises 114 915 089 ordinary
      shares; and
 -    the group´s income tax reference number is 9457/323/84/9.

MICROmega has obtained the relevant South African Reserve Bank Approval in respect of the Interim
Special Dividend and the Board has reasonably concluded that the Company will satisfy the solvency and
liquidity test immediately after distribution of the Interim Special Dividend and for the next 12 months.

The salient dates will be as follows:

Declaration date:                       Tuesday, 3 April 2018
Last day to trade:                      Tuesday, 17 April 2018
Shares trade ex-dividend:               Wednesday, 18 April 2018
Record date:                            Friday, 20 April 2018
Payment date:                           Monday, 23 April 2018

Share certificates may not be dematerialised or rematerialised between Wednesday, 18 April 2018 and
Friday, 20 April 2018.

Johannesburg
3 April 2018

Sponsor
Merchantec Capital

Date: 03/04/2018 04:39:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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