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Fraction rate announcement
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")
FRACTION RATE ANNOUNCEMENT
Shareholders are referred to the Company's announcements on SENS dated 21
February 2025, 11 March 2025 and 19 March 2025 respectively, in respect of
the scrip dividend 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").
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 were advised that 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% dividend
withholding tax.
The gross fraction rate is 65.59062 cents per share and has been calculated
at 72.87847 cents per share, the volume weighted average price of a Finbond
share traded on the JSE on Wednesday, 26 March (being the day on which the
Finbond share began trading 'ex' the entitlement to receive the scrip
dividend or cash dividend), discounted by 10% in accordance with the JSE
Listings Requirements. The net fraction rate paid after dividend withholding
tax will be 52.47250 cents per share, unless dividend withholding tax
exemptions apply.
Example of fractional entitlement
Assuming a shareholder holds 100 Finbond shares on Tuesday 25 March 2025
(Last day to trade), unless the shareholder elects to receive the cash
dividend, the shareholder will receive 100 *17.82809 / 100 = 17.82809 shares.
This is rounded down to 17 shares. The fraction of 0.82809 shares is paid at
the gross fraction rate 65.59062 cents per share = 54.31494 cents per share
before a deduction for any dividend withholding tax is applicable. The net
amount after dividend withholding tax will be 43.45195 cents per share.
Pretoria
27 March 2025
Sponsor: African Bank Limited (Business and Commercial Banking Division)
Date: 27-03-2025 10:30:00
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