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RAND MERCHANT INVESTMENT HOLDINGS LIMITED - Results of cash dividend, scrip distribution alternative and reinvestment option

Release Date: 22/10/2018 12:51
Code(s): RMI     PDF:  
 
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Results of cash dividend, scrip distribution alternative and reinvestment option

RAND MERCHANT INVESTMENT HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 2010/005770/06
ISIN: ZAE000210688
Share code: RMI
("RMI" or "the Company")

RESULTS OF CASH DIVIDEND, SCRIP DISTRIBUTION ALTERNATIVE AND REINVESTMENT
OPTION

The ordinary shareholders of the Company ("RMI Shareholders") are
referred to the Company’s summarised audited results announcement
including the dividend declaration for the year ended 30 June 2018
published on the Stock Exchange News Service of the JSE Limited (“JSE”)
on 11 September 2018.

The Company declared a final gross cash dividend of 65 cents per ordinary
share for the year ended 30 June 2018 ("Cash Dividend") and provided RMI
Shareholders an alternative to elect to (i) receive fully paid up RMI
ordinary shares with a par value of R0.0001 (“RMI Shares”) in the Company
in lieu of the Cash Dividend (“Scrip Distribution Alternative”); or (ii)
reinvest all or part of the Cash Dividend (net of any applicable taxes)
(“Subscription Value”) in RMI Shares by RMI (a) crediting such
Subscription Value to RMI Shareholders; and (b) applying such credit on
behalf of RMI Shareholders to subscribe for reinvestment shares
(“Reinvestment Option”), in respect of all or a part of their
shareholding recorded in RMI’s securities register at 12:00 on the record
date, being Friday, 19 October 2018 (“Record Date”).

The results of the Scrip Distribution Alternative and Reinvestment Option
are as follows:

                          Aggregate     Aggregate number              % of RMI
                      number of RMI   of RMI Shares held        Shares held by
                       Shares to be      by electing RMI          electing RMI
                             issued      Shareholders(*)   Shareholders(*)(**)
Scrip Distribution
Alternative               1 083 511           63 344 707                  4.16
Reinvestment Option       8 005 053          468 404 651                 30.76
Total                     9 088 564          531 749 358                 34.92

*On the Record Date

**Shares in issue = 1,522,719,206

The 9 088 564 new RMI Shares issued today to RMI Shareholders in respect
of the Scrip Distribution Alternative and the Reinvestment Option
resulted in a capitalisation of the distributable retained profits of the
Company of R345 365 432.

RMI Shareholders recorded in the register of the Company on the Record
Date holding 990 969 848 RMI Shares, representing 65.08% of the RMI
Shares in issue, elected to receive the Cash Dividend resulting in a
total gross Cash Dividend of R644 130 401.20, which was paid out of the
distributable retained profits of the Company.

In respect of the Scrip Distribution Alternative, share certificates will
be posted and electronic funds transfers, CSDP or broker accounts will be
credited/updated today, Monday, 22 October 2018.

In respect of the Reinvestment Option, share certificates will be posted
and CSDP or broker accounts credited/updated on Wednesday, 24 October
2018.

The maximum number of 26 046 512 RMI Shares that could have been elected
by RMI Shareholders to be received as part of the Scrip Distribution
Alternative and the Reinvestment Option were provisionally listed on the
JSE on Wednesday, 17 October 2018 and as such 16 957 948 RMI Shares will
be delisted from the JSE on or about Friday, 26 October 2018.

Sandton
22 October 2018

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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