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TRADEHOLD LIMITED - CUMULATIVE, REDEEMABLE B PREFERENCE SHARE (B Preference Share) CASH DIVIDEND & VOLUNTARY PARTIAL REDEMPTION

Release Date: 28/05/2019 17:11
Code(s): TDHBP     PDF:  
 
Wrap Text
CUMULATIVE, REDEEMABLE “B” PREFERENCE SHARE (““B” Preference Share”) CASH DIVIDEND & VOLUNTARY PARTIAL REDEMPTION

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 2120.71233 cents per “B” Preference Share for the dividend period
      from 15 March 2019 to 17 June 2019 (both dates inclusive. The amount payable
      will be derived from Tradehold’s operations in the United Kingdom; and
 (ii) Tradehold wishes to redeem 10,214 “B” Preference Shares at a redemption amount
      of ZAR1,000 being an aggregate return of capital of R10,214,000 on 18 June 2019
      (“the Voluntary Redemption”). The amount payable will be derived from
      Tradehold’s operations in the United Kingdom.

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
1696.56986 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 1,106,418 “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.

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 June 2019
Redemption
List Date for the Cash Dividend & Suspension Date for   Wednesday, 12 June 2019
the Voluntary Redemption
Record date for the Cash Dividend & Voluntary Friday, Friday, 14 June 2019
Redemption
                                                Friday, Tuesday, 18 June 2019
Dividend Payment Date & Voluntary Redemption Date

28 May 2019
Cape Town
Joint Debt Sponsor
Nodus Capital Proprietary Limited
Mettle Specialised Finance Proprietary Limited

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