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 2016,released on the Stock Exchange News Service ("SENS") on Wednesday, 11 May 2016, in which they were advised that Life´s board of directors had resolved to declare an interim distribution of fully-paid Life ordinary shares of R0.000001 ("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, 17 June 2016. A circular, setting out, inter alia, the terms of the Scrip Distribution and Cash Dividend (and including a Form of Election) was posted to shareholders on Monday, 16 May 2016 and is available on the Company´s website, www.lifehealthcare.co.za. 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, being Friday, 17 June 2016) in relation to the ratio that 73 cents multiplied by 1.025 bears to 3789 cents, representing the volume weighted average price ("VWAP") of an ordinary Life share traded on the JSE during the 15-day trading period ending on Wednesday, 1 June 2016. 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 1,97479 Scrip Distribution shares for every 100 ordinary shares held on the Record Date, calculated as follows: New ordinary share entitlement = 100 x 73 cents x 1.025 ______________________ 3789 cents = 1,97479 new ordinary shares If the application of this ratio gives rise to a fraction of an ordinary share, such fraction of a new ordinary share will be rounded down to the nearest whole number, resulting in allocations of whole ordinary shares and a cash payment for the fraction. The cash payment will be determined with reference to the VWAP of an ordinary Life share traded on the JSE on Friday, 10 June 2016 (being the day on which an ordinary Life share begins trading `ex´ the entitlement to receive the Scrip Distribution or Cash Dividend alternative), discounted by 10%. The applicable cash payment will be announced on SENS on Monday, 13 June 2016. 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 1,97479% = 1,97479 new ordinary shares (then apply the Rounding Provision described above) = 1 Scrip Distribution share in respect of the 100 ordinary shares held and a cash payment for the fraction. Illovo Thursday, 2 June 2016 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 02/06/2016 11:28:00 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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