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ECSPONENT LIMITED - Declaration and finalisation announcement relating to the redemption of Series 1, Class A, B and C preference shares

Release Date: 13/09/2019 09:20
 
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Declaration and finalisation announcement relating to the redemption of Series 1, Class A, B and C preference shares

ECSPONENT LIMITED
Incorporated in the Republic of South Africa
Registration number: 1998/013215/06
JSE Code: ECS - ISIN: ZAE000179594
Debt Issuer Code: ECSD
(“the Company” or “Ecsponent”)

  Preference Shares                      Series number       JSE Code              ISIN
  Class A                                1                   ECSP1                 ZAE000196317
  Class B                                1                   ECSP2                 ZAE000196309
  Class C                                1                   ECSP3                 ZAE000196291

Declaration and finalisation announcement in respect of the redemption of Series 1, Class A, B
and C preference shares

In accordance with the Terms and Conditions relating to the Company’s preference shares as set out in the
Programme Memorandum dated 22 September 2017, Ecsponent advises of the automatic redemptions of
the following preference shares under its ZAR5,000,000,000 Preference Share Programme:

                                           Class A, Series 1       Class B, Series 1      Class C, Series 1
  Description of preference shares:               Fixed-rate,             Zero-rate,         Variable-rate,
                                                 redeemable,             redeemable,            redeemable,
                                                 convertible,      convertible, non-            convertible,
                                             cumulative non-           participating         cumulative non-
                                               participating       preference shares          participating
                                           preference shares         of no par value      preference shares
                                             of no par value                                of no par value

  Number of preference shares being                   61 332                68 680                  247 100
  redeemed:
  Redemption price per preference            100% of Initial       170% of Initial          100% of Initial
  share:                                         Issue Price           Issue Price              Issue Price
                                                        R100                  R170                     R100

  Total redemption amount payable:                R6 133 200           R11 675 600              R24 710 000

  Redemption and accrued                                2019                  2019                     2019
  dividend timetable
  Last day to trade:                      Tuesday, 1 October     Tuesday, 1 October      Tuesday, 1 October

  Suspension of listing of preference           Wednesday, 2           Wednesday, 2            Wednesday, 2
  shares to be redeemed:                             October                October                 October

  Record date (date to be recorded in       Friday, 4 October     Friday, 4 October       Friday, 4 October
  the Register in order to receive the
  redemption payment and accrued
  dividend):

  Payment date (via electronic             Monday, 7 October      Monday, 7 October       Monday, 7 October
  transfer to CDSP/broker accounts or
  via EFT payments):

  Preference shares redeemed to be        Tuesday, 8 October     Tuesday, 8 October     Tuesday, 8 October
  removed from JSE List:

Following the redemption of these preference shares, the total preference shares in issue will total
R2,007,585,100.

Payment of an accrued dividend:
An accrued dividend for the period 11 September 2019 to the close of business on 4 October 2019 (Day
Count Fraction) will be paid on the Class A and C preference shares being redeemed as follows:

•       A dividend at the rate of 10% per annum is payable in respect of the Class A preference shares.
•       A dividend at the rate of 14.00% per annum (being the prime rate plus 4%) is payable in respect of
        the Class C preference shares.

The gross local accrued dividend amount and the net local accrued dividend amount payable to Class A and
Class C Preference Shareholders are set out below:

                                                            Class A preference            Class C preference
                                                                        shares                        shares
    Gross local accrued dividend amount (cents per
                                                                      65.75342                      92.05479
    share)
    Net local accrued dividend amount (cents per
                                                                      52.60274                      73.64383
    share)

In terms of the Listings Requirements of the JSE, the following additional information is provided:
1.    The dividends have been declared from income reserves.
2.    The dividend withholding tax rate is 20%.
3.    Ecsponent’s income tax number is 9235/264/84/4.

For more information about this announcement or the Ecsponent group, email
investor.relations@ecsponent.com or visit www.ecsponentlimited.com/investor-relations


13 September 2019
Pretoria


Sponsor to Ecsponent
Questco Corporate Advisory (Pty) Ltd

Date: 13/09/2019 09:20:00
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