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Etion - scheme arrangement and delisting
Shareholders of Etion (“Shareholders”) are referred to the Circular distributed to Shareholders on Friday, 2 December 2022 (“Circular”), regarding a scheme of arrangement in terms of section 114 of the Companies Act, between Etion and the Exiting Shareholders (“Scheme”), and the subsequent Delisting of the Etion Shares from the AltX Board of the JSE following the implementation of the Scheme.
Shareholders are also referred to the finalization announcement released on SENS on 18 January 2023 advising that the Scheme is unconditional.
Shareholders are advised that in respect of the Scheme Consideration of R313 717 359, R240 432 166 will qualify as a dividend for tax purposes and the remaining portion of R73 285 193 constitutes contributed tax capital.
Accordingly, in respect of each Scheme Share of 55.58 cents, 42.60 cents will qualify as a dividend for tax purposes (“Dividend Portion”) and the remaining portion of 12.98 cents constitutes contributed tax capital. The maximum local dividend tax rate is 20%. The net amount of the Dividend Portion is 34.08 cents per share for Shareholders liable to pay dividend tax at the maximum rate.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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