LHC: LIFE HEALTHCARE GROUP HOLDINGS LIMITED - Ratio applicable to the scrip distribution Ratio 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") RATIO 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 on 12 May 2017 and in the press on 15 May 2017, in which they were advised of the Company´s declaration of an interim distribution of fully-paid Life ordinary shares of R0.000001 each ("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, 30 June 2017 ("the Record Date"). Shareholders will, however, be entitled to elect to receive a cash dividend of 35 cents per ordinary share of R0.000001 each held on the Record Date in respect of all or part of their ordinary shareholding, instead of the Scrip Distribution ("the Cash Dividend"). A circular setting out the terms of the Scrip Distribution and Cash Dividend alternative, including a Form of Election, was posted to shareholders on Monday, 5 June 2017. 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 on Friday, 30 June 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 Shareholder will become entitled pursuant to the Scrip Distribution (to the extent that such Shareholder has not elected to receive the Cash Dividend) will be determined by reference to such Shareholder´s ordinary shareholding in Life (at the close of business on the Record Date) in relation to the ratio that 35 cents multiplied by 1.025 bears to 2702 cents, representing the volume weighted average price of an ordinary Life share traded on the JSE during the 15-day trading period ending on Monday, 19 June 2017. The application of the 1.025 factor in the Scrip Distribution pricing mechanism is intended to incorporate a 2.5% discount on the 15-day VWAP for Shareholders not electing to receive the Cash Dividend alternative. The ratio of Scrip Distribution shares to which each Shareholder will become entitled pursuant to the Scrip Distribution (to the extent that such Shareholder has not elected to receive the Cash Dividend) is therefore 1.32772 Scrip Distribution shares for every 100 ordinary shares held on the Record Date. Where the application of this ratio gives rise to a fraction of an ordinary share, such fraction will be rounded down to the nearest whole number, resulting in allocations of whole ordinary shares and a cash payment for the fraction. The applicable cash payment will be determined with reference to the VWAP of an ordinary Life share traded on the JSE on Wednesday, 28 June 2017, (being the day on which an ordinary Life share begins trading `ex´ the entitlement to receive the Scrip Distribution or the Cash Dividend alternative), discounted by 10%. The applicable cash payment will be announced on SENS on Thursday, 29 June 2017. Example of Scrip Distribution entitlement: This example assumes that a Shareholder holds 100 ordinary 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 35 cents x 1.025 ______________________ 2702 cents = 1.32772 new shares (then apply the Rounding Provision described above) = 1 Scrip Distribution share in respect of the 100 ordinary shares held. Illovo 20 June 2017 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 20/06/2017 10:05:00 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)
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