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TIMES MEDIA GROUP LIMITED - Declaration of Pre-Acquisition Dividend

Release Date: 02/03/2015 15:00
Code(s): TMG     PDF:  
 
Wrap Text
Declaration of Pre-Acquisition Dividend

TIMES MEDIA GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration Number: 2008/009392/06
Share code: TMG
ISIN: ZAE 000169272
(“TMG”)


DECLARATION OF PRE-ACQUISITION DIVIDEND
Shareholders of TMG are referred to the joint firm intention
announcement, published by TMG and Blackstar Group SE
(“Blackstar”) on 18 February 2015, the joint announcement
published by TMG and Blackstar on 27 February 2015, as well as
the circular (“Circular”) that was distributed to TMG
shareholders on 27 February 2015, relating to the proposed
scheme of arrangement in terms of which, if implemented,
Blackstar will acquire the entire issued ordinary share
capital of TMG, not already owned by Blackstar or Blackstar
(Cyprus) Investors Limited, excluding treasury shares (“the
Scheme”).

Notice is hereby given that, subject to the Scheme becoming
unconditional, the board of directors of TMG has approved and
declared a pre-acquisition dividend of 30 cents per TMG share
for TMG shareholders recorded in TMG’s securities register as
at the record date of the Scheme (“Pre-Acquisition Dividend”).

DIVIDEND

In compliance with the requirements of Strate, the electronic
settlement and custody system used by the JSE Limited, the
following salient dates are applicable for the payment of the
dividend:



Finalisation date announcement            Friday, 17 April 2015
confirming that the Scheme is
unconditional, expected to be
released on

Last day to trade for TMG                 Thursday, 30 April 2015
shareholders to qualify for
the Pre-Acquisition Dividend
TMG shares to commence trading            Monday, 4 May 2015
ex entitlement to the Pre-
Acquisition Dividend on

Record date to be recorded in             Friday, 8 May 2015
the Register in order to
receive the Pre-Acquisition
Dividend expected to be on or
about

Settlement of the Pre-                    Monday, 11 May 2015
Acquisition Dividend expected
to occur on or about


TMG Shareholders are referred to the detailed timetable for
the Scheme, as published in the Circular and contained in the
joint SENS announcement of 27 February 2015, as referred to
above.

Share certificates may not be dematerialised or re-
materialised from 4 May 2015 onwards (assuming the Scheme is
unconditional).

The Pre-Acquisition Dividend of 30 cents per TMG share has
been declared from income reserves.

The Pre-Acquisition Dividend withholding tax rate is 15%. No
secondary tax on companies credits have been used. The net
dividend amount payable to TMG shareholders not exempt from
dividend withholding tax is 25.5 cents per TMG share.

TMG shareholders are encouraged to consult their professional
advisors should they be in any doubt as to the appropriate
action to take.

TMG currently has 127 077 145 ordinary shares in issue. TMG's
income tax reference number is 9010/105/19/6. Deloitte &
Touche is TMG’s independent external auditor and Mr JAR Welch
is the designated audit partner.



2 March 2015
Johannesburg


Corporate advisor and sponsor to TMG

PSG Capital Proprietary Limited

Date: 02/03/2015 03:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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