JSE Limited SENS announcements

Posting of circular relating to scrip distribution or cash dividend election

15 August 2017

Circular to mpact ordinary shareholders (PDF - 166KB)

Shareholders are referred to the Company’s unaudited interim financial results for the six months ended 30 June 2017 published on the Stock Exchange News Service (“SENS”) on Tuesday, 8 August 2017 and in the press on Thursday 10 August 2017, in which they were advised that Mpact’s board of directors had resolved to declare an interim distribution of fully-paid Mpact ordinary shares of no par value (“the Scrip Distribution”) to ordinary Shareholders (“Shareholders”) recorded in the register of the Company at the close of business on the Record Date, being Friday, 8 September 2017.

Shareholders will, however, be entitled to elect to receive a cash dividend of 15 cents per ordinary share of no par value held on the Record Date, being Friday, 8 September 2017, in respect of all or part of their ordinary shareholding, instead of the Scrip Distribution (“the Cash Dividend”).

The Cash Dividend will be paid only to those:

  • certificated Shareholders whose Forms of Election to receive the Cash Dividend, in respect of all or part of their shareholding, are received by the Transfer Secretaries on or before 12h00 noon on Friday, 8 September 2017; and
  • dematerialised Shareholders who have instructed their CSDP or broker accordingly and in the manner and time stipulated in their agreement with such CSDP or broker.

The number of Scrip Distribution shares to which each of the Shareholders will become entitled pursuant to the Scrip Distribution (to the extent that such Shareholders have not elected to receive the Cash Dividend) will be determined by reference to such Shareholder’s ordinary shareholding in Mpact (at the close of business on the Record Date, being Friday, 8 September 2017) in relation to the ratio that 15 cents bears to the volume weighted average price of an ordinary Mpact share traded on the JSE during the 30-day trading period ending on Monday, 28 August 2017.

Shareholders are advised that a circular, setting out, inter alia, the terms of the Scrip Distribution and Cash Dividend (and including a Form of Election) will be posted to shareholders today, Tuesday, 15 August 2017 (“the Circular”). The Circular is also available on the Company’s website.

The salient dates for the proposed Scrip Distribution and Cash Dividend, also contained in the Circular, are as follows:

EVENT 2017
Announcement released on SENS in respect of the ratio applicable to the Scrip Distribution, based on the 30-day volume weighted average price ending on Monday, 28 August 2017, by 11h00 on Tuesday, 29 August
Announcement published in the press of the ratio applicable to the Scrip Distribution, based on the 30-day volume weighted average price ending on Monday, 28 August 2017 on Wednesday, 30 August
Last day to trade in order to be eligible to receive the Scrip Distribution or the Cash Dividend alternative Tuesday, 5 September
Ordinary shares trade “ex” the Scrip Distribution and the Cash Dividend alternative on Wednesday, 6 September
Listing and trading of maximum possible number of ordinary shares on the JSE in terms of the Scrip Distribution from the commencement of business on Wednesday, 6 September
Announcement released on SENS in respect of the cash payment applicable to fractional entitlements, based on the volume weighted average price on Wednesday, 6 September 2017, discounted by 10%, by 11h00 on Thursday, 7 September
Last day to elect to receive the Cash Dividend alternative instead of the Scrip Distribution, Forms of Election to reach the Transfer Secretaries by 12h00 on Friday, 8 September
Record Date in respect of the Scrip distribution and the Cash Dividend alternative Friday, 8 September
Scrip Distribution certificates posted and Cash Dividend payments made, CSDP/broker accounts credited/updated, as applicable, on Monday, 11 September
Announcement relating to the results of the Scrip Distribution and the Cash Dividend alternative released on SENS on Monday, 11 September
Announcement relating to the results of the Scrip Distribution and the Cash Dividend alternative published in the press on Tuesday, 12 September
JSE listing of ordinary shares in respect of the Scrip Distribution adjusted to reflect the actual number of ordinary shares issued in terms of the Scrip Distribution at the commencement of business on or about Wednesday, 13 September

All times provided are South African local times. The above dates and times are subject to change. Any material change will be announced on SENS.

Share certificates may not be dematerialised or rematerialised between Wednesday, 6 September 2017 and Friday, 8 September 2017, both days inclusive.

Melrose Arch
15 August 2017

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)