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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 9 July 2019, in which the company declared a
gross cash dividend of 1.55 cents per share (“cash dividend”) for the year
ended 28 February 2019. Shareholders will, however, be entitled to elect to
receive a capitalisation share issue alternative of 0.42922 for every 100
ordinary shares, to ordinary shareholders recorded in the Finbond register
on the record date, being Friday, 2 August 2019 (“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 12 June 2019, of 361.12 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.
The fraction rate is 336.76587 cents per share and has been calculated at
374.18430 cents per share, the volume weighted average price of a Finbond
share traded on the JSE on Tuesday, 30 July 2019 (there were no trades on
Wednesday, 31 July 2019, 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.
Example of fractional entitlement
Assuming a shareholder holds 1000 Finbond shares on Friday 2 August 2019
(Record date), unless the shareholder elects to receive cash dividends, the
shareholder will receive 1000 *0.42922 / 100 = 4.2922 shares. This is rounded
down to 4 shares. The fraction of 0.2922 shares is paid at the fraction rate
336.76587 cents per share = 98.40299 cents per share.
Pretoria
1 August 2019
Sponsor: Grindrod Bank Limited
Date: 01/08/2019 10:15:00
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