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METROFILE HOLDINGS LIMITED - Cash Fraction Applicable to the Scrip Distribution

Release Date: 10/10/2019 10:00
Code(s): MFL     PDF:  
Wrap Text
Cash Fraction Applicable to the Scrip Distribution

Metrofile Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1983/012697/06)
Share code: MFL
ISIN: ZAE000061727
("Metrofile" or the “Company”)


Shareholders of Metrofile are referred to the Company’s results
for the year ended 30 June 2019 published on the Stock Exchange
News Service (“SENS”) on Thursday, 5 September 2019 and the
dividend declaration announcement published on SENS on Friday,
6 September 2019, wherein the board of directors of Metrofile
informed shareholders that it had resolved to declare a
distribution of fully-paid Metrofile ordinary shares with a par
value of 0.6146 cent each (the “Scrip Distribution”).

The applicable ratio for the Scrip Distribution is 2.34217 for
every 100 ordinary shares held on the Record Date, being Friday,
11 October 2019, as announced on SENS on Tuesday, 1 October 2019.

As advised in the above-mentioned SENS, if the application of this
ratio gave rise to a fraction of an ordinary Metrofile share, such
fraction would be rounded down to the nearest whole number,
resulting in whole ordinary Metrofile shares being allocated with
an equivalent cash payment in compensation for the fraction
("Rounding Provision").

In accordance with the JSE Limited Listings Requirements, the cash
payment of 202,25160 cents per share has been determined with
reference to the volume weighted average price of an ordinary
Metrofile share traded on the JSE on Wednesday, 9 October 2019
(being the day on which an ordinary Metrofile share began trading
”Ex” the entitlement to receive the Scrip Distribution),
discounted by 10%.

Shareholders are accordingly advised that the applicable cash
payment for the fractional entitlement is 202,25160 cents
(224,72400 cents, discounted by 10%).

Example of fractional entitlement:

This example assumes that a Shareholder holds 100 ordinary shares
at the close of business on the Record Date.

New ordinary share entitlement = 100 x (5/213,47684) = 2.34217

The Rounding Provision described above is then applied and the
shareholder will receive:
2 Scrip Distribution shares in respect of the 100 ordinary shares
held and a cash payment for the fractional entitlement of 0.34217
x 202,25160 = 69.20443 cents.

10 October 2019

The Standard Bank of South Africa Limited

Transaction Advisor
Apex Partners

Date: 10/10/2019 10:00:00
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