LONDON FINANCE & INVESTMENT GROUP P.L.C.
("the Company")
Amended Dividend announcement for the year ended 30th June 2012
Further to the dividend announcement released on 19th October
12012, it has come to our attention that there was an error in the
calculation of the figures for the gross and net dividend payable
to shareholders on the Company's South African register. The
amended announcement below shows the correct figures.
Further to the Company's preliminary announcement of results for
the year ended 30th June 2012,
released on 28th September 2012, the
Board recommends a final dividend of 0.35p, making 0.7p per share
for the year (2011 - 0.6p). Subject to member's approval, which
will be sought at the Annual General Meeting to be held on
Wednesday, 28th November 2012, the
dividend will be paid on 30th November
2012 to those members on the register at the close of
business on 9th November 2012.
Shareholders on the South African register will receive their
dividend in South African rand converted from sterling at the
closing rate of exchange on 18th October
2012.
Salient dates for dividend
Last day to trade (SA) Friday 2nd November 2012
Shares trade ex dividend (SA) Monday 5th
November 2012
Shares trade ex dividend (UK) Wednesday 7th November 2012
Record date (UK & SA) Friday 9th November 2012
Pay date Friday 30th November 2012
Currency conversion date Thursday 18th October 2012
Shareholders are hereby advised that the exchange rate to be
used will be GBP 1 = ZAR13.9332.
This has been calculated as the average of the bid/ask spread as
at 16h00 (United Kingdom time)
being close of business on 18th October
2012. Consequently the dividend of 0.35p will be equal to
4.87662 South African cents.
Since the introduction on 1st April
2012 of a new dividend withholding tax in South Africa, the JSE Listings Requirements
require disclosure of additional information in relation to any
dividend payments. Shareholders registered on the Johannesburg register are therefore advised
that the new dividend withholding tax will be withheld from the
gross final dividend amount of 4.87662 SA cents per share at a rate
of 15%, unless a shareholder qualifies for an exemption;
shareholders registered on the Johannesburg register who do not quality for
an exemption will therefore receive a net dividend of 4.14513 SA
cents per share. The Company, as a non-resident of South Africa, was not subject to the secondary
tax on companies (STC) applicable before 1st
April 2012, and accordingly, no STC credits are available
for set-off against the dividend withholding tax liability on the
final net dividend amount. The dividend is payable in cash as a
`Dividend' (as defined in the South African Income Tax Act, 58 of
1962, as amended) by way of a reduction of income reserves. The
dividend withholding tax and the information contained in this
paragraph is only of direct application to shareholders registered
on the Johannesburg register, who
should direct any questions about the application of the new
dividend withholding tax to Computershare Investor Services (Pty)
Limited, Tel: +27 11 373-0004.
From the commencement of trading on Monday 5th November 2012 until the close of business on
Friday 9th November 2012, no
transfers between the London and
Johannesburg registers will be
permitted and no shares may be dematerialised or rematerialised,
both days inclusive.
By Order of the Board
City Group P.L.C.
Secretaries
22nd October 2012