Results of cash dividend, scrip distribution alternative and reinvestment option
RAND MERCHANT INVESTMENT HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 2010/005770/06
Share code: RMI
("RMI" or "the Company")
RESULTS OF CASH DIVIDEND, SCRIP DISTRIBUTION ALTERNATIVE AND
The ordinary shareholders of the Company ("RMI Shareholders") are
referred to the Company’s summarised unaudited results
announcement including the dividend declaration for the six months
ended 31 December 2017 published on the Stock Exchange News
Service (“SENS”) of the JSE Limited (“JSE”) on 12 March 2018.
The Company declared an interim gross cash dividend of 39 cents
per ordinary share for the six months ended 31 December 2017
("Cash Dividend") and provided RMI Shareholders an alternative to
elect to (i) receive fully paid up RMI ordinary shares with a par
value of R0.0001 (“RMI Shares”) in the Company in lieu of the Cash
Dividend (“Scrip Distribution Alternative”); or (ii) reinvest all
or part of the Cash Dividend (net of any applicable taxes)
(subscription value) in RMI Shares by RMI (a) crediting such
subscription value to RMI Shareholders; and (b) applying such
credit on behalf of RMI Shareholders to subscribe for reinvestment
shares (“Reinvestment Option”), in respect of all or a part of
their shareholding recorded in RMI’s securities register at 12:00
on the record date, being Friday, 6 April 2018 (“Record Date”).
The results of the Scrip Distribution Alternative and Reinvestment
Option are as follows:
number of number of RMI % of RMI
RMI Shares Shares held by Shares held by
to be electing RMI electing RMI
issued Shareholders(*) Shareholders(*)(**)
Alternative 611 452 66 634 689 4.39%
Option 4 259 255 464 738 972 30.62%
Total 4 870 707 531 373 661 35.01%
*On the Record Date
**Shares in issue = 1 517 848 499
The 4 870 707 new RMI Shares issued today to RMI Shareholders in
respect of the Scrip Distribution Alternative and the Reinvestment
Option resulted in a capitalisation of the distributable retained
profits of the Company of R207 005 047.50.
RMI Shareholders recorded in the register of the Company on the
Record Date holding 986 474 838 RMI Shares, representing 64.99% of
the RMI Shares in issue, elected to receive the Cash Dividend
resulting in a total gross Cash Dividend of R384 725 186.82, which
was paid out of the distributable retained profits of the Company.
In respect of the Scrip Distribution Alternative, share
certificates will be posted and electronic funds transfers, CSDP
or broker accounts will be credited/updated today, Monday, 9 April
In respect of the Reinvestment Option, share certificates will be
posted and CSDP or broker accounts credited/updated on Wednesday,
11 April 2018.
The maximum number of 13 928 492 RMI Shares that could have been
elected by RMI Shareholders to be received as part of the Scrip
Distribution Alternative and the Reinvestment Option were
provisionally listed on the JSE list on Wednesday, 4 April 2018
and as such 9 057 785 RMI Shares will be delisted from the JSE on
or about Friday, 13 April 2018.
9 April 2018
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 09/04/2018 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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