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ECSPONENT LIMITED - FINAL October 2019 monthly preference share dividend declaration and finalisation announcement

Release Date: 22/10/2019 12:32
 
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FINAL October 2019 monthly preference share dividend declaration and finalisation announcement

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”)

  Class A Preference Shares    Series Number       JSE Code           ISIN
  Ecsponent Pref Share A2      2                   ECSP4              ZAE000202495
  Ecsponent Pref Share A3      3                   ECSP7              ZAE000210480
  Ecsponent Pref Share A4      4                   ECSP10             ZAE000217196
  Ecsponent Pref Share A5      5                   ECSP13             ZAE000244844
  Class C Preference Shares                        JSE Code           ISIN
  Ecsponent Pref Share C2      2                   ECSP6              ZAE000202511
  Ecsponent Pref Share C3      3                   ECSP9              ZAE000210506
  Ecsponent Pref Share C4      4                   ECSP12             ZAE000218525
  Ecsponent Pref Share C5      5                   ECSP15             ZAE000222501
  Ecsponent Pref Share C6      6                   ECSP18             ZAE000231205
  Ecsponent Pref Share C7      7                   ECSP21             ZAE000241725
  Ecsponent Pref Share C8      8                   ECSP24             ZAE000246757
  Class D Preference Shares                        JSE Code           ISIN
  Ecsponent Pref Share D1      1                   ECSD1              ZAE000250148
  Ecsponent Pref Share D2      2                   ECSD2              ZAE000254389
  Ecsponent Pref Share D3      3                   ECSD3              ZAE000258851
  Ecsponent Pref Share D4      4                   ECSD4              ZAE000263265
  Ecsponent Pref Share D5      5                   ECSD5              ZAE000268389
  Ecsponent Pref Share D6      6                   ECSD6              ZAE000273140
  Ecsponent Pref Share D7      7                   ECSD7              ZAE000277620
  Class E Preference Shares                        JSE Code           ISIN
  Ecsponent Pref Share E1      1                   ECSE1              ZAE000250155
  Ecsponent Pref Share E2      2                   ECSE2              ZAE000254397
  Ecsponent Pref Share E3      3                   ECSE3              ZAE000258869
  Ecsponent Pref Share E4      4                   ECSE4              ZAE000263281
  Ecsponent Pref Share E5      5                   ECSE5              ZAE000268363
  Ecsponent Pref Share E6      6                   ECSE6              ZAE000273132
  Class G Preference Shares                        JSE Code           ISIN
  Ecsponent Pref Share G1      1                   ECSG1              ZAE000250163
  Ecsponent Pref Share G2      2                   ECSG2              ZAE000258877
  Ecsponent Pref Share G3      3                   ECSG3              ZAE000263307
  Ecsponent Pref Share G4      4                   ECSG4              ZAE000273124

FINAL OCTOBER 2019 MONTHLY PREFERENCE SHARE DIVIDEND DECLARATION AND FINALISATION ANNOUNCEMENT

Holders of Class A, Class C, Class D, Class E and Class G Preference Shares are referred to the two
announcement issued earlier today and are advised that this is the final correct version and replaces the
aforementioned announcements.

Notice is hereby given of the declaration of the following preference dividends in respect of the period
commencing on 8 October 2019 and ending on the date dividends start trading ex-dividend, being
6 November 2019:
-       in respect of the Class A Preference Shares, a dividend at the rate of 10% per annum;
-       in respect of the Class C Preference Shares, a dividend at the rate of 14.00% per annum (being
        the prime rate plus 4%);
-       in respect of the Class D Preference Shares, a dividend at the rate of 12.5% per annum;
-       in respect of the Class E Preference Shares, a dividend at the rate of 11.25% per annum; and
-       in respect of the Class G Preference Shares, a dividend at the rate of 10% per annum.
the per share amounts of which have been disclosed below.

Relevant dates in relation to this dividend payment are set out below:

  Last day to trade to appear in the register on Record Date                      Tuesday, 5 November 2019
  Preference shares start trading ex-dividend                                   Wednesday, 6 November 2019
  Record Date                                                                      Friday, 8 November 2019
  Payment Date                                                                    Monday, 11 November 2019

In accordance with the requirements of Strate, no share certificates may be dematerialised or
rematerialised, between the date that the Preference Shares start trading ex-dividend, and the Record
Date.

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.    The Company shall be entitled to an administration fee in respect of the Class D, Class E and Class
      G Preference Shares, of 0.25% per annum on the Initial Issue Price, inclusive of VAT, payable monthly
      in arrears on the Monthly Dividend Payment Dates.
4.    The administration fee is subject to the Value-Added Tax Act of 1991. The Company has the right to
      recover the monthly administration fee, from the monthly Preference Share dividend (plus the
      applicable VAT thereon).
5.    Ecsponent’s income tax number is 9235/264/84/4.

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

                                                           Class A Series 2 – 5           Class C Series 2 – 8
                                                             Preference Share               Preference Share
 Gross local dividend amount (cents per
                                                                       76.71233                      107.39726
 share)
 Net local dividend amount (cents per share)                           61.36986                       85.91781

Class D, Class E and Class G Preference Shares:
The net distributable amounts are set out below:

 Cents per share                                       Class D                Class E                 Class G
                                                   Series 1 – 7           Series 1 - 6            Series 1 - 4
                                              Preference Share      Preference Share        Preference Share
 Distributable amount to
 shareholders, calculated as follows:
 Gross local dividend declared                         95.89041               86.30137               76.71233
 Less: Administration fee of 0.25% of the
 initial Issue Price (as set out in the
 relevant Applicable Pricing Supplements)              (1.91781)              (1.91781)              (1.91781)
 per annum inclusive of VAT to be
 withheld by the Company
 Dividend net of administration fee                    93.97260               84.38356               74.79452
 Less: 20% withholding tax on gross
                                                      (19.17808)             (17.26027)             (15.34247)
 dividend
 Net distributable amount to
                                                       74.79452               67.12329               59.45205
 shareholders

Preference Shares in issue:

1.    The issued preference share capital in respect of the Series 1 Preference Shares at the date of this
      announcement is as follows:
      1.1 425 400 Series 1 Class D Preference Shares with a total issued capital of R42 540 000;
      1.2 486 830 Series 1 Class E Preference Shares with a total issued capital of R48 683 000; and
      1.3 28 310 Series 1 Class G Preference Shares with a total issued capital of R2 831 000.

2.    The issued preference share capital in respect of the Series 2 Preference Shares at the date of this
      announcement is as follows:
      2.1 246 946 Series 2 Class A Preference Shares with a total issued capital of R23 486 000;
      2.2 1 175 170 Series 2 Class C Preference Shares with a total issued capital of R117 517 000;
      2.3 677 025 Series 2 Class D Preference Shares with a total issued capital of R67 702 500;
      2.4 320 090 Series 2 Class E Preference Shares with a total issued capital of R32 009 000; and
      2.5 13 500 Series 2 Class G Preference Shares with a total issued capital of R1 350 000.

3.    The issued preference share capital in respect of the Series 3 Preference Shares at the date of this
      announcement is as follows:
      3.1 50 347 Series 3 Class A Preference Shares with a total issued capital of R4 766 000;
      3.2 1 180 016 Series 3 Class C Preference Shares with a total issued capital of R118 001 600;
      3.3 835 900 Series 3 Class D Preference Shares with a total issued capital of R83 590 000;
      3.4 459 630 Series 3 Class E Preference Shares with a total issued capital of R45 963 000; and
      3.5 8 952 Series 3 Class G Preference Shares with a total issued capital of R895 200.

4.    The issued preference share capital in respect of the Series 4 Preference Shares at the date of this
      announcement is as follows:
      4.1 96 784 Series 4 Class A Preference Shares with a total issued capital of R9 365 900;
      4.2 747 063 Series 4 Class C Preference Shares with a total issued capital of R74 706 300;
      4.3 684 261 Series 4 Class D Preference Shares with a total issued capital of R68 426 100;
      4.4 397 280 Series 4 Class E Preference Shares with a total issued capital of R39 728 000; and
      4.5 5 600 Series 4 Class G Preference Shares with a total issued capital of R560 000.

5.    The issued preference share capital in respect of the Series 5 Preference Shares at the date of this
      announcement is as follows:
      5.1 327 660 Series 5 Class A Preference Shares with a total issued capital of R32 766 000;
      5.2 1 171 989 Series 5 Class C Preference Shares with a total issued capital of R117 198 900;
      5.3 587 630 Series 5 Class D Preference Shares with a total issued capital of R58 763 000; and
      5.4 318 600 Series 5 Class E Preference Shares with a total issued capital of R31 860 000.

6.    The issued preference share capital in respect of the Series 6 Preference Shares at the date of this
      announcement is as follows:
      6.1 1 345 819 Series 6 Class C Preference Shares with a total issued capital of R134 581 900;
      6.2 486 000 Series 6 Class D Preference Shares with a total issued capital of R48 600 000; and
      6.3 129 700 Series 6 Class E Preference Shares with a total issued capital of R12 970 000.

7.    The issued preference share capital in respect of the Series 7 Preference Shares at the date of this
      announcement is as follows:
      7.1 1 021 157 Series 7 Class C Preference Shares with a total issued capital of R102 115 700; and
      7.2 900 000 Series 7 Class D Preference Shares with a total issued capital of R90 000 000.

8.    The issued preference share capital in respect of the Series 8 Preference Shares at the date of this
      announcement is as follows:
      8.1 456 200 Series 8 Class C Preference Shares with a total issued capital of R45 620 000.

The Company may issue additional Preference Shares prior to the last day to trade date.

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

22 October 2019
Pretoria


Sponsor to Ecsponent
Questco Corporate Advisory (Pty) Ltd

Date: 22/10/2019 12:32:00
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