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Finalisation of Scrip Dividend and Cash Dividend Alternative
FINBOND GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2001/015761/06)
JSE code: FGL
ISIN: ZAE000138095
Main Board – General Segment
("Finbond" or "the Company")
FINALISATION OF SCRIP DIVIDEND AND CASH DIVIDEND ALTERNATIVE
Shareholders are referred to the declaration of scrip dividend and cash
alternative announcement released on SENS on Friday, 21 February 2025 and
the circular distributed to shareholders on Wednesday, 5 March 2025 in respect
of the scrip dividend declared of 17.82809 for every 100 ordinary shares, to
ordinary shareholders recorded in the Finbond register on the record date,
being Friday, 28 March 2025 ("scrip dividend")and the gross cash dividend
alternative of 9.57071 cents per share ("cash dividend"). Shareholders are
advised that the details of the scrip dividend and cash dividend as announced
remain unchanged.
The ratio of entitlement is based on the volume weighted average traded price
per Finbond ordinary share on the JSE Limited over the five trading days up
to and including 14 February 2025, of 53.68333 cents per share, which will
be the issue price per Finbond share ("the issue price").
Shareholders are required to notify their duly appointed participant or
broker of their election in terms of the cash dividend. For the avoidance of
doubt, if no action is taken by shareholders, they will receive the scrip
dividend.
The last day to trade in the Company's shares cum the scrip dividend and cash
dividend is Tuesday, 25 March 2025. Consequently, no dematerialisation or
rematerialisation of the Company's shares may take place over the period from
Wednesday, 26 March 2025 to Friday, 28 March 2025, both days inclusive.
Trading in the Company's shares ex the scrip dividend and cash dividend
alternative will commence on Wednesday, 26 March 2025.
The ordinary shares to be allotted pursuant to the scrip dividend will be
issued from available treasury shares up to a maximum of 59 118 708 ordinary shares.
Any remainder will be issued as new fully paid ordinary shares, the value of
which will be capitalised from cash reserves of the Company. At the date of
declaration, the company has 515 720 092 ordinary shares in issue.
The cash dividend is scheduled to be payable in South African Rand (ZAR) on
Monday, 31 March 2025 from the Company's cash reserves. Such dividend is
subject to and will be paid net of dividends tax of 20%, to be withheld and
paid to the South African Revenue Service. Such tax must be withheld unless
beneficial owners of such dividend have provided the necessary documentary
proof to the relevant regulated intermediary (being a broker, CSD
participant, nominee company or the Company's transfer secretaries, JSE
Investor Services (Pty) Ltd, PO Box 4844, Johannesburg, 2000 South Africa)
that they are exempt therefrom, or entitled to a reduced rate, as a result
of a double taxation agreement between South Africa and the country of tax
domicile of such owner.
The withholding tax, if applicable at the rate of 20%, will result in a net
cash dividend per share of 7.65657 cents per share, applicable to the cash
dividend. As the scrip dividend does not constitute a dividend as defined in
the Income Tax Act, no withholding tax is applicable thereon. However, there
are possible tax implications of receiving the scrip dividend and shareholders
are advised to obtain their own professional advice in this regard.
Where a shareholder's entitlement to new ordinary shares calculated in
accordance with the scrip dividend formula gives rise to a fraction of a new
ordinary share, such entitlement will be rounded down to the nearest whole
number resulting in allocations of whole securities and a cash payment to the
shareholder for the fraction. Any fractional entitlement payment will also be
subject to 20% withholding tax. The fractional entitlement announcement will
be published on SENS on Thursday, 27 March 2025.
The salient dates and times announced on Friday, 21 February 2025 remain unchanged.
The circular setting out full details of the scrip dividend and cash dividend
alternative and containing a form of election was distributed to shareholders
on Wednesday, 5 March 2025 and is available on the Company's website hosted
at www.finbondgroup.com.
Pretoria
11 March 2025
African Bank Limited (Business and Commercial Banking Division)
Date: 11-03-2025 05:00:00
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