YYLBEE - Declaration of Special Dividend
YeboYethu (RF) Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2008/014734/06)
ISIN: ZAE000218483 Share code: YYLBEE
("YeboYethu” or the “company”)
DECLARATION OF SPECIAL DIVIDEND
Shareholders are referred to the various announcements released on SENS and the circular to
shareholders dated 18 July 2018, containing full details of the BEE transaction between
Vodacom Group Limited (“Vodacom”) and YeboYethu (the “BEE transaction”), copies of which
can be found on the YeboYethu website at http://www.yeboyethu.co.za (respectively the
“previous announcements” and the “BEE circular”).
As detailed in the previous announcements and the BEE circular, step 3 of the BEE transaction
relates to the payment of a special dividend. The special dividend is subject to and contingent
upon implementation of all of the steps set out in section 3 of the BEE circular.
Accordingly, the YeboYethu board of directors has resolved to pay a special dividend up to a
maximum of R3 261 189 876 out of income reserves, which equates to 7300 cents per
YeboYethu ordinary share.
2. Special dividend timetable
The following dates pertaining to the special dividend should be noted:
Declaration of special dividend Wednesday 22 August
Finalisation date for the special dividend Wednesday 29 August
Last day to trade in order to be eligible to receive the special Wednesday 5 September
YeboYethu ordinary shares trade ex-special dividend Thursday 6 September
Special dividend record date Monday 10 September
Special dividend payment date Thursday 13 September
No dematerialisation or rematerialisation of share certificates will be allowed during the period
Thursday 6 September 2018 to Monday 10 September 2018.
The dates in the table above are subject to change. Any changes will be communicated to
shareholders via an announcement released on SENS.
3. Further information
This special dividend has been approved by the Financial Surveillance Department of the South
African Reserve Bank.
The special dividend is a dividend defined in the Income Tax Act, 1962. In terms of the dividend
tax amendments, which came into effect on 22 February 2017, the following additional
information is disclosed -
• The local withholding tax rate on dividends is 20%; a net local dividend amount of 5840
cents per YeboYethu share is payable for shareholders liable to pay the dividend tax and
7300 cents per YeboYethu share for shareholders exempt from paying the dividend tax;
• The issued share capital of YeboYethu at declaration date is 14 395 300 ordinary shares.
However, at the record date it is intended that 44 669 671 ordinary shares will be entitled to
dividends pursuant to the implementation of Step 2 as detailed in section 3 of the BEE
• The income tax reference number of the company is 9087475175.
4. Conditions precedent
The BEE transaction remains conditional upon -
• filing of an amendment to, and/or replacement of, Vodacom South Africa’s memorandum
of incorporation, in a form acceptable to YeboYethu and Vodacom Group, which includes
those amendments required to give effect to the BEE transaction;
• filing of an amendment to, and/or replacement of, YeboYethu’s memorandum of
incorporation, in a form acceptable to Vodacom South Africa, YeboYethu and Vodacom
Group, which includes those amendments required to give effect to the BEE transaction;
• the transaction agreements becoming unconditional in accordance with their terms;
• the funding agreements becoming unconditional in accordance with their terms; and
• the issue by the Takeover Regulation Panel of a compliance certificate with respect to the
BEE transaction in terms of section 121(b) of the Companies Act.
22 August 2018
Transaction sponsor to YeboYethu
Absa Corporate and Investment Bank, a division of Absa Bank Limited
Date: 22/08/2018 11:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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