Sharenet Sites 
Sharenet Sites
Cash Payment In Respect Of Fractional Entitlements
NIVEUS INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1996/005744/06)
Share code: NIV
ISIN: ZAE000169553
(“Niveus” or the “Company”)
CASH PAYMENT IN RESPECT OF FRACTIONAL ENTITLEMENTS
Shareholders are referred to the Company’s circular dated 21 February 2018 (“Circular”), detailing the
distribution in specie by the Company of its shareholding (“Distribution Shares”) in Hosken Passenger
Logistics and Rail Limited (“HPLR”), referred to in the Circular as “Newco”, to Niveus shareholders
(“Niveus Unbundling”), as well as to the Company’s finalisation announcement dated 16 April 2018
(“Finalisation Announcement”), advising that all conditions precedent to the Niveus Unbundling have
been fulfilled and that the Niveus Unbundling will be implemented on Monday, 30 April 2018, on the
basis detailed in the Circular.
As indicated in paragraph 5.3 of the Circular, should a shareholder’s entitlement to the Distribution
Shares in terms of the Niveus Unbundling, calculated on the basis set out in paragraph 5.1.2 of the
Circular, give rise to a fraction of a Distribution Share, such fraction will be rounded down to the nearest
whole number, resulting in the allocation of whole Distribution Shares and a cash payment for the
fraction.
Shareholders are advised that the value of R7.002 per Distribution Share will be utilised in determining
the cash payments due to shareholders in respect of any fractional entitlements. This amount of R7.002
is calculated as R7.78 per share, less 10%. The cash amount will not be further reduced by dividend
tax payable in respect of the Niveus Unbundling.
As indicated in the Salient Dates and Times section of the Circular, the Company will release a SENS
announcement tomorrow, 26 April 2018 in respect of the apportionment of tax cost for the Niveus
Unbundling.
Cape Town
25 April 2018
Corporate advisor and sponsor
PSG Capital
Legal advisor
ENSafrica
Date: 25/04/2018 03:05:00 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.
