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Cash dividend declaration for the year ended 31 December 2019
Homechoice International plc
(Incorporated in the Republic of Malta)
Registration number C66099
Share code: HIL
ISIN:MT0000850108
("HomeChoice" or "the Group")
CASH DIVIDEND DECLARATION FOR THE YEAR ENDED 31 DECEMBER 2019
HomeChoice released its 2019 annual results on Thursday, 12 March 2020 when the impact of
COVID-19 was primarily focused in China and certain countries in Europe. At the time, the Board
considered the declaration and payment of a year-end dividend appropriate as the impact of COVID-
19 was expected to be limited to the importation of merchandise from China, for which the Group
had already implemented plans to manage delays in production and delivery.
Subsequent to the dividend announcement, COVID-19 has progressed into a global pandemic and
the economic and risk landscapes have changed significantly. The events of the past weeks are
unprecedented and the short- and medium-term effects on the local and global economies are
significant and uncertain.
The Board believes that it is in the best interests of the Group and its stakeholders to preserve cash
reserves during this period of uncertainty. The Group has implemented a significant reduction in
loan disbursements and has proactively reviewed and deferred capital and discretionary
expenditure.
Against this background and in the interest of the continued financial health of the Group, the Board
considers it prudent to postpone the final dividend of 79.0 cents per share, amounting to R83.2
million, that was payable on Monday, 25 May 2020.
Accordingly, shareholders are advised that the dividend declaration timetable released on Thursday,
12 March 2020 is hereby retracted. Information on the revised timetable will be communicated to
shareholders on or about Monday, 24 August 2020, when HomeChoice plans to release its interim
results for the half-year ending 30 June 2020.
On behalf of the Board
Qormi, Republic of Malta
16 April 2020
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 16-04-2020 03:55:00
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