| 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 by 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% by 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 of 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. |
| For the full document, click the link below: |
| Finbond Group Limited |
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