ZXSWB - Scrip Dividend

31-08-2018

Name of Issuer Senwesbel Limited
Country of Incorporation ZA
Registration Number 1996/017629/06
ISIN Number ZAEZ00000026
Share Code ZXSWB

SENWESBEL LIMITED SCRIP DIVIDEND

Shareholders are referred to the announcement made on 27 June 2018 and the subsequent circular dated 24 July 2018 in terms of which shareholders were informed about the offer to receive a distribution of ordinary shares in the Company (“Scrip Dividend”) instead of the cash distribution of 19 cents per share for the final period ended 30 April 2018 (dividend no. 35) (“Cash Dividend”).

As noted in the announcement and the circular:

  • The right to participate in the Scrip Dividend was determined by reference to a shareholder’s shareholding in the Company on the record date, being 8:00 on 22 August 2018 (”Record Date”).
  • The number of shares in the Company (”Shares”) which a shareholder could elect to receive in lieu of the Cash Dividend was determined in relation to the ratio that 1c (one cent) of Cash Dividend bears to the Scrip Dividend price of R 5 (five rand) per Share approved by the Board. (“Record Date”).
  • The right to participate in the Scrip Dividend was limited to 50% of the entitlement to participate in the Cash Dividend and a shareholder could only choose to participate fully in the Scrip Dividend and not in part.
  • Shareholders who did not respond to the Scrip Dividend offer would receive the Cash Dividend in the normal course.
  • As trading on ZAR X in the Strate environment does not permit fractions and fractional entitlements, should the application of the ratio referred to above give rise to a fraction of a Share, the number of Shares which a shareholder shall be entitled to receive in terms of the Script Dividend will be rounded down to the nearest whole number, resulting in only whole Shares being allocated in terms of the Script Dividend and the fraction being settled in a cash.
  • Shareholders recorded in the register of the Company on the Record Date holding 48 264 586 ordinary shares elected to receive the Scrip Dividend resulting in 916 992 new ordinary shares being issued today to those Shareholders who elected to receive the Scrip Dividend, a 0,8% increase in the issued share capital of the Company, with a concomitant capitalisation of the distributable retained profits of the Company of R 4 584 960,00.
  • The balance of the gross Cash Dividend of ZAR 19 cents per ordinary share totalling a total gross Cash Dividend payment of R 17 016 579,85 (after dividend withholding tax) was paid out of the distributable retained profits of the Company today to Shareholders recorded in the register of the Company at the close of business on the Record Date.

By order of the Board of Directors.


AE Scholtz
COMPANY SECRETARY
Tel no. (076) 212 1776
Klerksdorp
31 August 2018