PrimeTime Property Holdings (Botswana) – Interest distribution to linked unitholders

By Published On: July 18th, 2022Categories: Corporate announcement

Notice is hereby given that an interim interest distribution comprising interest of 4.95 thebe per. linked unit in respect of the year ended 31 August 2022 (covering the 6-month period to 30 June 2022) has been declared payable.

This distribution is being offered with up to a 100% elective capitalisation option to those who qualify. The number of capitalisation units to which unitholders will be entitled will be calculated on the following basis:

Capitalisation units entitlement = net distribution amount (after tax) / P1.85

In accordance with Section 6.4 of the Constitution of the Company, the Board of Directors of PrimeTime Property Holdings Limited have approved the issue of up to 6 546 059 (six million five hundred and forty-six thousand and fifty-nine) new units to be funded by the capitalisation of up to 100% of the imminent cash distribution to unitholders.

The capitalisation units issued in terms of this offer will be fully paid out of the distribution account. Assuming that all the Unitholders are in possession of the minimum number of Linked units required for the 1-unit capitalisation issue, do elect the capitalisation option, the maximum amount to be capitalised, prior to the deduction of any withholding tax that will be settled in cash to Botswana Unified Revenues Services, on behalf of the Unitholder, is expected to be P12,110,092.70.

The new Linked units will, when issued and fully paid, rank pari passu in all respects (including in terms of both voting rights and dividends) with the existing Linked units of the Company and will be fully paid up and freely transferable. The capitalisation Linked units do not have any convertibility or redemption provisions.


PrimeTime Property Holdings Limited (PRIMET.bw)

Share price: 185.00 Thebe (0.00 | 0.00% – 16/08/22)

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