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VIL
VIL
VIL - Village Main Reef Limited - Declaration of special cash dividend
VILLAGE MAIN REEF LIMITED
(Incorporated in the Republic of South Africa)
(formerly known as Village Main Reef Gold Mining Company (1934) Limited)
(Registration number 1934/0057034/06)
Share Code: VIL ISIN: ZAE000154761
("Village")
DECLARATION OF SPECIAL CASH DIVIDEND
Village refers its shareholders to the announcement released on SENS on
14 June 2012 in relation to the approval by the shareholders of First Uranium
Corporation ("FIU") of all the required resolutions to dispose of FIU`s interest
in MWS and Ezulwini (the "transactions"). Village had indicated therein that as
a result of the FIU shareholders approving the transactions, Village would
receive the full face value of approximately R392 million due to it under the
Secured Convertible Rand Denominated Notes in MWS ("MWS Notes"). Village has
consistently indicated that it will return the majority of cash received from
the disposal of the MWS Notes to its shareholders.
Accordingly shareholders are advised that a special cash dividend of 30.0 cents
per share has been declared by the board of Village, in accordance with the
timetable set out below:
2012
Last date to trade cum distribution Friday, 13 July
Shares trade ex distribution Monday, 16 July
Record date Friday, 20 July
Payment date Monday, 23 July
Share certificates may not be dematerialised or rematerialised between Monday,
16 July 2012 and Friday, 20 July 2012, both dates inclusive.
In terms of the Listings Requirements of the JSE Limited regarding the new
Dividends Tax effective 1 April 2012, the following additional information is
disclosed:
1. The special dividend should be treated as an income payment;
2. The local dividend tax rate is 15%;
3. There are no Secondary Tax on Companies credits utilised against the
dividend;
4. The gross local dividend amount is 30.0 cents per share for shareholders
exempt from paying the new Dividends Tax;
5. The net local dividend amount is 25.5 cents per share for shareholders
liable to pay the new Dividends Tax;
6. The issued share capital of Village is 1 008 694 473 shares of 12.5 cents
each;
7. Village`s tax reference number is 9650011605.
8. Application has been made to the South African Reserve Bank for approval of
the special dividend.
21 June 2012
Sponsor
Java Capital
Date: 21/06/2012 14:00:01 Produced by the JSE SENS Department.
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