LHC: LIFE HEALTHCARE GROUP HOLDINGS LIMITED - Cash payment applicable to the scrip distribution Cash payment 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 payment applicable to the scrip distribution Shareholders are referred to the Company´s audited financial results for the year ended 30 September 2016, released on the Stock Exchange News Service ("SENS") on 11 November 2016, in which they were advised that Life´s board of directors had resolved to declare a final Scrip Distribution of fully-paid Life ordinary shares of R0.000001, with the alternative to elect to receive a Cash Dividend of 92 cents per ordinary Life share. The ratio applicable to the Scrip Distribution entitlement was announced on SENS on 5 December 2016, being 2,96728 Scrip Distribution shares for every 100 Life ordinary shares held on the Record Date, being Thursday, 15 December 2016. If the application of this ratio gives rise to a fraction of a Life ordinary share, such fraction of a new Life ordinary share will be rounded down to the nearest whole number, resulting in allocations of whole Life ordinary 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 a Life ordinary share traded on the JSE on Tuesday, 13 December 2016 (being the day on which a Life ordinary 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 2826 cents (2402 cents net of dividend withholding tax). Example of fractional 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 2,96728% = 2,96728 new ordinary shares. The Rounding Provision described above is then applied and the shareholder will receive: 2 Scrip Distribution shares in respect of the 100 ordinary shares held and a cash payment for the fractional entitlement based on the 2826 cents noted above of 0.96728 x 2826 = 2734 cents. This fractional entitlement payment will be subject to 15% dividend withholding tax, resulting in a net cash payment of 2324 cents. Illovo 14 December 2016 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 14/12/2016 12:12:00 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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