Cash fraction applicable to the Scrip Distribution
LIFE HEALTHCARE GROUP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2003/002733/06)
Share Code: LHC
(“Life” or “the Company”)
CASH FRACTION APPLICABLE TO THE SCRIP DISTRIBUTION
Shareholders are referred to the Company’s unaudited interim
financial results for the six months ended 31 March 2018,
published on the Stock Exchange News Service (“SENS”) on 1 June
2018, in which it declared an interim Scrip Distribution with the
alternative to elect to receive a Cash Dividend of 38 cents per
ordinary Life share.
The ratio applicable to the Scrip Distribution entitlement was
announced on SENS on 12 June 2018, being 1.41843 Scrip
Distribution shares for every 100 ordinary Life shares held on the
Record Date, being Friday, 22 June 2018.
If the application of this ratio gives rise to a fraction of an
ordinary Life share, such fraction will be rounded down to the
nearest whole number, resulting in allocations of whole ordinary
Life shares and a cash payment for the fraction (“Rounding
In accordance with the requirements of the JSE Limited, the cash
payment has been determined with reference to the volume weighted
average price of an ordinary Life share traded on the JSE on
Wednesday, 20 June 2018 (being the day on which an ordinary Life
share began trading ‘ex’ the entitlement to receive the Scrip
Distribution or Cash Dividend alternative), discounted by 10%.
Shareholders are accordingly advised that the basis applicable in
determining the cash payment for the fractional entitlement is
2284 cents (2538 cents, discounted by 10%) or 1827 cents, net of
applicable dividend withholding tax.
Example of fractional entitlement:
This example assumes that a Shareholder holds 100 ordinary Life
shares at the close of business on the Record Date and does not
elect to receive the Cash Dividend in respect of all or part of
New ordinary share entitlement = 100 x 1.41843%
= 1.41843 new ordinary shares. The Rounding Provision described
above is then applied and the shareholder will receive:
1 Scrip Distribution share in respect of the 100 ordinary shares
held and a cash payment for the fractional entitlement of 0.41843
x 2284 = 996 cents. This fractional entitlement payment will be
subject to 20% dividend withholding tax, resulting in a net cash
payment of 797 cents.
21 June 2018
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 21/06/2018 12:37:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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