LHC: LIFE HEALTHCARE GROUP HOLDINGS LIMITED - Cash fraction applicable to the scrip distribution

2017-06-29 10:59:00
LHC: LIFE HEALTHCARE GROUP HOLDINGS LIMITED - Cash fraction applicable to the scrip distribution
Cash fraction applicable to the scrip distribution
LIFE HEALTHCARE GROUP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2003/002733/06)
ISIN: ZAE000145892
Share Code: LHC
("Life" or "the Company")
CASH FRACTION APPLICABLE TO THE SCRIP DISTRIBUTION
Shareholders are referred to the Company´s unaudited interim
financial results for the six months ended 31 March 2017,
published on the Stock Exchange News Service ("SENS") on 12 May
2017 and in the press on 15 May 2017, in which it declared an
interim Scrip Distribution with the alternative to elect to
receive a Cash Dividend of 35 cents per ordinary Life share.
The ratio applicable to the Scrip Distribution entitlement was
announced on SENS on 20 June 2017, being 1.32772 Scrip
Distribution shares for every 100 ordinary Life shares held on the
Record Date, being Friday, 30 June 2017.
If the application of this ratio gives rise to a fraction of an
ordinary Life share, such fraction will be rounded down to the
nearest whole number, resulting in allocations of whole ordinary
Life shares and a cash payment for the fraction ("Rounding
Provision").
In accordance with the requirements of the JSE Limited, the cash
payment has been determined with reference to the volume weighted
average price of an ordinary Life share traded on the JSE on
Wednesday, 28 June 2017 (being the day on which an ordinary Life
share began trading `ex´ the entitlement to receive the Scrip
Distribution or Cash Dividend alternative), discounted by 10%.
Shareholders are accordingly advised that the basis applicable in
determining the cash payment for the fractional entitlement is
2314.36452 cents (2571.51613 cents, discounted by 10%) or
1851.49162 cents, net of applicable dividend withholding tax.
Example of fractional entitlement:
This example assumes that a Shareholder holds 100 ordinary Life
shares at the close of business on the Record Date and does not
elect to receive the Cash Dividend in respect of all or part of
their shareholding.
New ordinary share entitlement = 100 x 1.32772%
= 1.32772 new ordinary shares. The Rounding Provision described
above is then applied and the shareholder will receive:
1 Scrip Distribution share in respect of the 100 ordinary shares
held and a cash payment for the fractional entitlement of 0.32772
x 2314.36452 = 758.46354 cents. This fractional entitlement
payment will be subject to 20% dividend withholding tax, resulting
in a net cash payment of 606.77083 cents.
Illovo
29 June 2017
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 29/06/2017 10:59:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Source: JSE News Service (SENS)

I-Net Bridge (Pty) Limited and its associates disclaim all liability for any loss, damage, injury or expense however caused, arising from the use of or reliance upon, in any manner, the information provided through this service and does not warrant the truth, accuracy or completeness of the information provided. Copyright © I-Net Bridge (Pty) Ltd, 2012