RAND MERCHANT INVESTMENT HOLDINGS LIMITED - Results of cash dividend, scrip distribution alternative and reinvestment option

Release Date: 09/04/2018 08:00
Code(s): RMI
 
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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
ISIN: ZAE000210688
Share code: RMI
("RMI" or "the Company")

RESULTS OF CASH DIVIDEND, SCRIP DISTRIBUTION ALTERNATIVE AND
REINVESTMENT OPTION

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:

                       Aggregate          Aggregate
                       number of      number of RMI             % of RMI
                      RMI Shares     Shares held by       Shares held by
                           to be       electing RMI         electing RMI
                          issued    Shareholders(*)  Shareholders(*)(**)
Scrip Distribution
Alternative              611 452        66 634 689                 4.39%
Reinvestment
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
2018.

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.


Sandton
9 April 2018

Sponsor
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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