Powerspeed Electrical – Notice to Shareholders: Cash Dividend Offer (with Election Form Download)

By Published On: December 29th, 2023Categories: Corporate announcement, Dividends

Notice is hereby given that for the year ended 30 September 2023, the board declared a final dividend of ZWL 17.28 per share. This dividend will be payable in full to all Shareholders of the Company registered at the close of business on 8 January 2024.

The terms of election for the currency to be used in the cash dividend offer will be mailed on 15 January 2024, together with the election form, as follows:

A. THE TERMS OF ELECTION

This form sets out the choices open to ordinary members in terms of this offer.

These are as follows:

  1. The amount of cash you will receive if you elect payment in Zimbabwe Dollars
  2. The amount of cash you will receive if you elect payment in United States Dollars.

The following procedures are applicable for members to exercise these options.

B. ELECTION PROCEDURES

  1. To receive your dividend entitlement wholly in Zimbabwe Dollars tick Option 1 on the Election Form.
  2. To receive your dividend entitlement wholly in United States Dollars tick Option 2 on the Election Form.

C. RETURN OF ELECTION FORM

  1. Return your Election Form to First Transfer Secretaries.
  2. All Election Forms must be received by First Transfer Secretaries, 1 Armagh Avenue, Eastlea, Harare; by no later than 4.00 pm on Monday 5 February 2024. You should allow at least four full working days for postal delivery in Zimbabwe. Given the pressure on postal deliveries at this time, shareholders are encouraged to use the following email address: [email protected]. Confirmation of receipt of an Election Form will be sent to shareholders. If you do not receive confirmation, please email First Transfer Secretaries on [email protected], or telephone +263 (0) 242 782869/72 to request acknowledgement of receipt.
  3. If no form has been received from any members for whatever reason by the set time, it will be assumed that the member has elected to receive the dividend entitlement in Zimbabwe Dollars.

D. TAXATION

Where members are liable to withholding tax, this amount will be deducted in determining the net dividend, which is to be paid in the currency elected by the shareholder.

E. NOMINEE ORGANISATION

Nominee organisations holding shares on behalf of a number of different members may split the election based on the intention of the various members. This should be in liaison with First Transfer Secretaries.

F. RECENT SALE OF SHARES

If on or before 8 January 2024 (the day on which the shares currently issued will be quoted ex-dividend) you have sold all or some of the shares registered in your name, you should consult with your Stockbroker or Agent without delay. Your Stockbroker or Agent will then advise you how to deal with your Election Form.

G. BASIS OF THE USD CONVERSION

The USD option will be based on the RBZ interbank rate of 8 January 2024 the record date.

H. CASH DIVIDENDS TO FOREIGN SHAREHOLDERS

All cash dividends to foreign shareholders to be paid subject to foreign exchange control approval

I. TIMETABLE OF EVENTS

1. Dividend Announced 29 December 2023
2. Shares trade Cum Dividend 3 January 2024
3. Shares Trade Ex-Dividend 4 January 2024
4. Record date 8 January 2024
5. Mailing of Election Forms – 4.00 pm 15 January 2024
6. Latest time and date of receipt of Election Forms 5 February 2024
7. Announcement of Results 11 February 2024
8. Cash dividend paid 4 March 2024

By Order of the Board

M S Gurira
Company Secretary
Kelvin Road North / Cripps Road
Graniteside
Harare, Zimbabwe

First Transfer Secretaries
1 Armagh Avenue,
Eastlea
P O Box 11
Harare, Zimbabwe

29 December 2023


Related Download

Powerspeed Cash Dividend Offer – Election form 2023.pdf

The contents of the post above were obtained from third parties, which We, AfricanFinancials, believe to be reliable. However, We do not guarantee their accuracy and the above information may be in condensed form. The reader is encouraged to refer to the original source of the information, which, in most cases, is in PDF format and on the originating company's letterhead. While We endeavour to replicate the original content accurately, We cannot guarantee the absence of errors in the above article and We disclaim any liability regarding reliance on information provided in this article.