| Mon 1 Aug 2022, 9:01 | | ENX GROUP LIMITED - Declaration of a special distribution of R1.50 per share |
|
Declaration of a special distribution of R1.50 per share
ENX GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2001/029771/06)
JSE share code: ENX ISIN: ZAE000222253
(“enX” or “the Company”)
DECLARATION OF A SPECIAL DISTRIBUTION OF R1.50 PER SHARE
enX has closed the disposal of two businesses in the past 14 months, namely Impact Fork Trucks Ltd and EIE Group
Proprietary Limited. These disposals collectively realised net cash proceeds of c.R1,338million. Of these proceeds,
c.R350million has been applied to recapitalising Eqstra Fleet Management and Logistics, c.R364million as a distribution
and R50million to repay debt, while c.R220million is restricted – a result of collateral related to warranties and
indemnities and to secure capital commitments. The directors of enX regard the balance of these proceeds as surplus to
the requirements of enX. Accordingly, it has resolved to declare a special distribution of R1.50 per enX share (the
“Distribution”) which will be implemented by way of a reduction of contributed tax capital, as defined in the Income
Tax Act No. 58 of 1962 (as amended), to enX ordinary shareholders that are recorded as such on Friday, 19 August 2022.
Distributions from contributed tax capital which are not dividends as defined, do not attract withholding taxes in South
Africa. Application has been made to the exchange control division of the South African Reserve Bank for approval of the
Distribution. Once received, the finalisation information pertaining to the payment of the Distribution will be communicated
to shareholders.
Indicative salient information, dates and times relating to the Distribution:
The indicative salient dates relating to the Distribution are set out below and will be confirmed with the finalisation
information announcement:
Issued share capital as at declaration date 182 312 650
Company Tax Reference Number 9483233145
2022
Declaration date announcement in respect of the Distribution released on SENS Monday, 1 August
Finalisation date announcement in respect of the Distribution released on SENS Monday, 8 August
Last day to trade in enX ordinary shares in order to receive the Distribution Tuesday, 16 August
enX ordinary shares trade ‘ex’ the entitlement to receive the Distribution from Wednesday, 17 August
Record date for receipt of the Distribution Friday, 19 August
Distribution paid to enX ordinary shareholders Monday, 22 August
Notes
1. All times given are local times in South Africa.
2. The dates and times set out above are subject to change. Any such change will be released on SENS.
3. No dematerialisation or rematerialisation of enX ordinary shares may take place between Wednesday, 17 August
2022 and Friday, 19 August 2022, both days inclusive.
1 August 2022
Sponsor
The Standard Bank of South Africa Limited
Date: 01-08-2022 09:01:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
