Results of cash dividend, scrip distribution alternative and reinvestment option
RAND MERCHANT INVESTMENT HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 2010/005770/06
Share code: RMI
("RMI" or "the Company")
RESULTS OF CASH DIVIDEND, SCRIP DISTRIBUTION ALTERNATIVE AND REINVESTMENT
The ordinary shareholders of the Company ("RMI Shareholders") are
referred to the Company’s summarised audited results announcement
including the dividend declaration for the year ended 30 June 2018
published on the Stock Exchange News Service of the JSE Limited (“JSE”)
on 11 September 2018.
The Company declared a final gross cash dividend of 65 cents per ordinary
share for the year ended 30 June 2018 ("Cash Dividend") and provided RMI
Shareholders an alternative to elect to (i) receive fully paid up RMI
ordinary shares with a par value of R0.0001 (“RMI Shares”) in the Company
in lieu of the Cash Dividend (“Scrip Distribution Alternative”); or (ii)
reinvest all or part of the Cash Dividend (net of any applicable taxes)
(“Subscription Value”) in RMI Shares by RMI (a) crediting such
Subscription Value to RMI Shareholders; and (b) applying such credit on
behalf of RMI Shareholders to subscribe for reinvestment shares
(“Reinvestment Option”), in respect of all or a part of their
shareholding recorded in RMI’s securities register at 12:00 on the record
date, being Friday, 19 October 2018 (“Record Date”).
The results of the Scrip Distribution Alternative and Reinvestment Option
are as follows:
Aggregate Aggregate number % of RMI
number of RMI of RMI Shares held Shares held by
Shares to be by electing RMI electing RMI
issued Shareholders(*) Shareholders(*)(**)
Alternative 1 083 511 63 344 707 4.16
Reinvestment Option 8 005 053 468 404 651 30.76
Total 9 088 564 531 749 358 34.92
*On the Record Date
**Shares in issue = 1,522,719,206
The 9 088 564 new RMI Shares issued today to RMI Shareholders in respect
of the Scrip Distribution Alternative and the Reinvestment Option
resulted in a capitalisation of the distributable retained profits of the
Company of R345 365 432.
RMI Shareholders recorded in the register of the Company on the Record
Date holding 990 969 848 RMI Shares, representing 65.08% of the RMI
Shares in issue, elected to receive the Cash Dividend resulting in a
total gross Cash Dividend of R644 130 401.20, which was paid out of the
distributable retained profits of the Company.
In respect of the Scrip Distribution Alternative, share certificates will
be posted and electronic funds transfers, CSDP or broker accounts will be
credited/updated today, Monday, 22 October 2018.
In respect of the Reinvestment Option, share certificates will be posted
and CSDP or broker accounts credited/updated on Wednesday, 24 October
The maximum number of 26 046 512 RMI Shares that could have been elected
by RMI Shareholders to be received as part of the Scrip Distribution
Alternative and the Reinvestment Option were provisionally listed on the
JSE on Wednesday, 17 October 2018 and as such 16 957 948 RMI Shares will
be delisted from the JSE on or about Friday, 26 October 2018.
22 October 2018
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 22/10/2018 12:51:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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