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TRADEHOLD LIMITED - Cumulative, Redeemable "B" Preference Share Cash Dividend & Voluntary Partial Redemption - TDHBP

Release Date: 27/11/2018 09:00
Code(s): TDHBP     PDF:  
 
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Cumulative, Redeemable "B" Preference Share Cash Dividend & Voluntary Partial Redemption - TDHBP

TRADEHOLD LIMITED
(Registration number: 1970/009054/06)
(“Tradehold” or “the Company”)
Incorporated in the Republic of South Africa
Share code: TDHBP
ISIN: ZAE000253050

CUMULATIVE, REDEEMABLE “B” PREFERENCE SHARE (““B” Preference Share”) CASH DIVIDEND &
VOLUNTARY PARTIAL REDEMPTION

Notice is hereby given that:
 (i) the directors of Tradehold have declared a gross cash dividend (“the Cash
      Dividend”) of 2032.50937 cents per “B” Preference Share for the dividend period
      from 17 September 2018 to 17 December 2018 (both dates inclusive). The amount
      payable will be derived from Tradehold’s operations in the United Kingdom; and
 (ii) Tradehold wishes to redeem 9,079 “B” Preference Shares at a redemption amount
      of ZAR1,000 being an aggregate return of capital of R9,079,000 on 18 December
      2018 (“the Voluntary Redemption”).

The Cash Dividend constitutes a foreign dividend, as defined in section 1 of the
Income Tax Act, 1962 (“ITA”), and is a dividend for purposes of dividends tax (“DT”)
imposed under Part VIII of Chapter II of the ITA, since the “B” Preference Shares are
listed on the JSE Limited and thus constitute a “listed share”, as contemplated in
section 64D of the ITA.

An exemption from DT is provided for in the ITA in respect of:
 (i) foreign dividends paid to a South African resident company; or
 (ii) dividends paid to a non-resident to the extent that the dividend is paid by a
      foreign company in respect of listed shares,
provided certain administrative procedures are complied with.

In terms of the ITA, DT of 20% will be withheld for those holders of “B” Preference
Shares (““B” Preference Shareholders”) who are not exempt from DT. “B” Preference
Shareholders who are not exempt from DT will therefore receive a net dividend of
1626.00750 cents per “B” Preference Share.

The Voluntary Redemption will be funded from internally generated cash flows of
Tradehold. After the Voluntary Redemption, Tradehold will have 1,116,632 “B”
Preference Shares in issue. The Voluntary Redemption will be made pro rata among the
holders of “B” Preference Shareholders in proportion to their respective holdings of
“B” Preference Shares. The notice of Voluntary Redemption contemplated in this
announcement is revocable at the election of Tradehold at any time prior to the
Voluntary Redemption Date.

Tradehold’s income tax reference number is 9725/126/71/9.

The salient dates for the Cash Dividend and the Voluntary Redemption will be:

Last day of trade for the Cash Dividend & Voluntary          Tuesday, 11 Dec 2018
Redemption

List Date for the Cash Dividend & Suspension Date for the    Wednesday, 12 Dec 2018
Voluntary Redemption
                                                             
Record date for the Cash Dividend & Voluntary Redemption     Friday, 14 Dec 2018

Dividend Payment Date & Voluntary Redemption Date            Tuesday, 18 Dec 2018

27 November 2018
Cape Town

Joint Debt Sponsor
Nodus Capital Proprietary Limited
Mettle Specialised Finance Proprietary Limited

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