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Fraction Rate announcement
FINBOND GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2001/015761/06)
JSE code: FGL
ISIN: ZAE000138095
("Finbond" or "the Company")
FRACTION RATE ANNOUNCEMENT
Shareholders are referred to the company’s announcement on the Stock Exchange
News Service (“SENS”) dated 15 June 2018, in which the company declared a
gross cash dividend of 9.91 cents per share (“cash dividend”) for the year
ended 28 February 2018. Shareholders will, however, be entitled to elect to
receive a capitalisation share issue alternative of 2.52904 for every 100
ordinary shares, to ordinary shareholders recorded in the Finbond register
on the record date, being Friday, 13 July 2018 (“capitalisation share issue
award”).
The ratio of entitlement is based on the volume weighted average traded price
per Finbond ordinary share on the JSE Limited over the five trading days up
to and including 13 June 2018, of 391.84864 cents per share, which will be
the issue price per Finbond share (“the issue price”).
Shareholders were advised that where a shareholder’s entitlement to new
ordinary shares calculated in accordance with the capitalisation issue share
award formula gives rise to a fraction of a new ordinary share, such
entitlement will be rounded down to the nearest whole number resulting in
allocations of whole securities and a cash payment to the shareholder for
the fraction. Any fractional entitlement payment will also be subject to 20%
dividend withholding tax.
The fraction rate is 326.80800 cents per share and has been calculated at
363.12000 cents per share, the volume weighted average price of a Finbond
share traded on the JSE on Wednesday, 11 July 2017 (being the day on which
the Finbond share began trading ‘ex’ the entitlement to receive the
capitalisation share issue award or cash dividend alternative), discounted
by 10% in accordance with schedule 18 of the JSE listings requirements. The
net fraction rate paid will be 261.44640 cents per share, unless dividend
withholding tax exemptions apply.
Example of fractional entitlement
Assuming a shareholder holds 100 Finbond shares on Tuesday 10 July 2018 (Last
day to trade), unless the shareholder elects to receive cash dividends, the
shareholder will receive 100 *2.52904 / 100 = 2.52904 shares. This is rounded
down to 2 shares. The fraction of 0.52904 shares is paid at the fraction
rate 326.80800 cents per share = 172.89450 cents per share before a deduction
for any dividend withholding tax is applicable.
Pretoria
12 July 2018
Sponsor: Grindrod Bank Limited
Date: 12/07/2018 08:59:00 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.
