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Sharenet Sites
Results of the scrip distribution and the cash dividend alternative
LIFE HEALTHCARE GROUP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2003/002733/06)
ISIN: ZAE000145892
Share Code: LHC
(“Life” or “the Company”)
RESULTS OF THE SCRIP DISTRIBUTION AND THE CASH DIVIDEND
ALTERNATIVE
Shareholders are referred to the Company’s audited financial
results for the year ended 30 September 2017, published on the
Stock Exchange News Service (“SENS”) on 21 November 2017, in
which they were advised of the Company’s declaration of final
distribution of fully-paid Life ordinary shares of R0.000001
each (“the Scrip Distribution”) to ordinary shareholders
(“Shareholders”) recorded in the register of the Company at
the close of business on the Record Date, being Friday, 5
January 2018 (“the Record Date”).
Shareholders not electing to receive the Cash Dividend in
respect of all or part of their shareholding were entitled to
receive that number of Scrip Distribution Shares determined in
the ratio of 1.82456 Scrip Distribution Shares for every 100
ordinary shares held on the Record Date.
Where a Shareholder’s entitlement to Scrip Distribution
Shares, calculated in accordance with the above ratio, gave
rise to a fraction of a new ordinary share, such fraction of a
new ordinary share was rounded down to the nearest whole
number, resulting in allocations of whole ordinary shares and
a cash payment for the fraction. The applicable cash payment
was determined with reference to the VWAP of an ordinary Life
share traded on the JSE on Wednesday, 3 January 2018, (being
the day on which an ordinary Life share began trading ‘ex’ the
entitlement to receive the Scrip Distribution or the Cash
Dividend alternative), discounted by 10%. The applicable cash
payment was announced on SENS on Thursday, 4 January 2018.
In terms of the Scrip Distribution, 14 589 693 new ordinary
shares were issued today to Shareholders who did not elect to
receive the Cash Dividend in respect of all or part of their
shareholding, resulting in a capitalisation of the
distributable retained profits of the Company of R368 827 439.
Shareholders recorded in the register of the Company at the
close of business on the Record Date holding 649 708 220
ordinary shares elected to receive the gross Cash Dividend of
45 cents per ordinary share, resulting in a total gross Cash
Dividend of R292 368 699, which was paid out of the
distributable retained profits of the Company.
Share certificates, where applicable, were dispatched to
certificated Shareholders at their own risk, and the Cash
Dividend payments were made/Central Securities Depository
Participant/broker accounts of dematerialised Shareholders
were credited, today.
Illovo
8 January 2018
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 08/01/2018 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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