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Dividend declaration Shareholders are advised of the following dividend declarations in respect of ordinary shares and preference shares. Ordinary dividend Ordinary shareholders are advised that the board of directors has declared a final gross cash dividend of 110 cents per ordinary share (93,500 cents net of dividend withholding tax) for the 12 months to 30 September 2012, (the cash dividend). The dividend has been declared as a cash distribution but with an opportunity for ordinary shareholders to elect capitalisation shares to provide flexibility for shareholders wishing to increase their holding in the company given recent changes to dividend tax in South Africa. Ordinary shareholders will be entitled to elect to receive ordinary shares of 2,5 cents each in the company as capitalisation shares in lieu of the cash dividend (the capitalisation issue), to be determined by the ratio that 110 cents bears to 3176,33719 cents, representing the volume weighted average price of the company’s ordinary shares on the exchange operated by the JSE Limited (JSE) during the nine-day trading period ended 29 November 2012. The ratio of capitalisation shares that may be applied for in terms of the capitalisation issue is therefore 3,46311 capitalisation shares for every 100 ordinary shares held on the record date, being Friday, 14 December 2012 (“the record date”). No secondary tax on companies (STC) credits were utilised as part of the ordinary cash dividend declaration. The cash dividend will be paid out of profits of the company while the new ordinary shares to be issued pursuant to the capitalisation issue will be done from the company’s share premium reserves but limited to the par value of 2,5 cents per share. Trading in the Strate Limited environment does not permit fractions and fractional entitlements. Accordingly, where an ordinary shareholders’ entitlement to new ordinary shares calculated in accordance with the above formula gives rise to a fraction of a new ordinary share, such fraction of a new ordinary share will be rounded up to the nearest whole number where the fraction is greater than or equal to 0,5 and 322 rounded down to the nearest whole number where the fraction is less than 0,5. Tax implications The cash dividend and the capitalisation issue are likely to have tax implications for both resident and non-resident shareholders. Shareholders are therefore encouraged to consult their professional tax advisers should they be in any doubt as to the appropriate action to take. In terms of the Income Tax Act, the cash dividend will, unless exempt, be subject to dividend withholding tax (DWT) that was introduced with effect from 1 April 2012. South African resident shareholders that are liable for DWT, will be subject to DWT at a rate of 15% of the cash dividend and this amount will be withheld from the cash dividend with the result that they will receive a net amount of 93,500 cents per share. Nonresident shareholders may be subject to DWT at a rate of less than 15% depending on their country of residence and the applicability of any double tax treaty between South Africa and their country of residence. The capitalisation issue is not subject to DWT in terms of the Income Tax Act, but the subsequent disposal of shares obtained as a result of the capitalisation issue is likely to have income tax or capital gains tax (CGT) implications. Where any future disposals of shares obtained as a result of the capitalisation issue falls within the CGT regime, the base cost of such shares will be regarded as nil in terms of the Income Tax Act (or the value at which such shares will be included in the determination of the weighted average base cost method be zero). Preference dividend Preference shareholders are advised that the board of directors has declared a gross final cash preference share dividend of 327 cents per share (277,950 cents net of dividend withholding tax), bringing the total preference share dividend for the year to 668 cents per share. The dividends have been declared from income reserves and no secondary tax on companies credits have been used. A dividend withholding tax of 15% will be applicable to all shareholders who are not exempt from the tax.
Dividend timetable >shareholder information Cash dividend/Capitalisation issue Ordinary shares Share code ABL ISIN ZAE000030060 Company registration number 1946/021193/06 Company tax reference number 9850164717 Dividend number 24 Gross cash dividend per share 110 cents Net dividend amount represented as cents per share 93,500 cents Issued share capital as at declaration date 804 175 200 Declaration date Monday, 19 November 2012 Finalisation announcement released on SENS Friday, 30 November 2012 Finalisation announcement published in the press Monday, 3 December 2012 Last date to trade to be eligible for the cash dividend/capitalisation shares Friday, 7 December 2012 Shares commence trading ex-cash dividend/capitalisation shares Monday, 10 December 2012 Last day to elect to receive the Capitalisation Issue instead of the Cash Dividend, Forms of Election to reach the Transfer Secretaries by 12:00 noon on Friday, 14 December 2012 Record date in respect of cash dividend/capitalisation shares Friday, 14 December 2012 Payment date Tuesday, 18 December 2012 Preference shares Share code ABLP ISIN ZAE000065215 Company registration number 1946/021193/06 Company tax reference number 9850164717 Dividend number 16 Gross cash dividend per share 327 cents Net dividend amount represented as cents per share 277,950 cents Issued share capital as at declaration date 13 523 029 Declaration date Monday, 19 November 2012 Last date to trade cum-dividend Friday, 7 December 2012 Shares commence trading ex-dividend Monday, 10 December 2012 Record date Friday, 14 December 2012 Dividend payment date Tuesday, 18 December 2012 Share certificates may not be dematerialised or rematerialised between Monday, 10 December 2012 and Friday, 14 December 2012, both dates inclusive. African Bank Investments Limited | Integrated Report for the year ended 30 September 2012 323
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Responsible credit with passion, co
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ABIL group - shareholders, funders,
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Contents Group profi le 2 Operating
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Operating structure >ABIL in perspe
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Our values We pledge to live by the
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‘03 ABIL achieves investment grad
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African Bank Investments Limited Fi
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African Bank Investments Limited Fi
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Shareholders’ profile Top fund ma
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2007 2006 2005 2004 2003 >ABIL in p
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2007 2006 2005 2004 2003 >ABIL in p
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Robert John (Johnny) Symmonds (53)
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Mojankunyane Florence (Mojanku) Gum
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Contents Letter to stakeholders 24
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Incwadi eya kubabambiqhaza Isingeni
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Ulwazi oluhambelanayo lungatholakal
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Umhlaba oncintisanayo Ukukhula okuk
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labele izidingongqangi ezikhulayo e
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Ukuze uthole olunye ulwazi ngemizam
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ngo-1994. Wenze ukufaka isandla oku
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usiness overview Material issue Why
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For more information on people rela
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egistered some short term gains and
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What sets us apart Quality of our p
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Active engagement with our people i
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Our customers Engagement methods St
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ABIL engaged with a wide group of l
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The most important of these are dis
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The risk base of the group is not c
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Return on equity in line with targe
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Retail unit Consolidation adjustmen
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Retail unit Consolidation adjustmen
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Share based payment reserve Other O
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Financial returns >business overvie
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Gross profit margin % 46 44 42 41 3
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were launched in October. The virtu
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Number of employees - Banking unit
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Of the credit cards issued in 2012,
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Disbursement features Disbursements
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Vintage graph - African Bank (More
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Liabilities Funding >business overv
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Capital management >business overvi
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The changes to capital adequacy on
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Contents Corporate governance repor
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Corporate governance structure Grou
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Board meetings and attendance >acco
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Conflict of interest All directors
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The office of the group compliance
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Introduction and report objectives
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■ Ensuring that there is an adequ
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Component Summary Benefits Benefits
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Exposure to existing long term ince
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The components of executive directo
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LTIPs awarded to executive director
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accountability the annual general m
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Risk management objectives >account
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Three levels of defence as applied
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Case volumes received: Year-on-year
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For more detail, see the group’s
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accountability Risk Mitigation Furt
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accountability Risk Mitigation Furt
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expectation that losses will occur
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Refer to page 74 and 76 in the inte
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ABIL - capital adequacy ratio % 25
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Liquidity and funding The group man
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deposits at highly competitive rate
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Regulatory risk South Africa’s cu
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Regulatory issue Description Risk/I
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Regulatory issue Description Risk/I
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Dear Sir/Madam In the year 2009 I e
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Scorecard information* Target score
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GRI SO1 For a detailed report on CS
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accountability Overall employee tur
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The Banking unit has increased the
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accountability Transformation and e
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Union membership 2012 47,8% 52,0% 0
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Employee turnover % 45 40 35 30 25
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Union membership % 70 60 50 40 30 2
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Transformation and employment equit
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■ C = Collect; ■ A = Advise;
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GRI PR7 GRI PR8 GRI PR9 Customer ex
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GRI PR1, PR2 >accountability condit
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GRI EC8, EC9, S01 >accountability l
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Number of projects 9% 5% ■ KwaZul
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Ilembe schools connectivity project
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For more information on CSI visit h
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accountability and measured against
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GRI EN18 Weaknesses and shortfalls
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GRI EN2 >accountability Paper savin
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GRI EN30 Community engagement >acco
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Case studies Cato Ridge Epping The
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est practice) gasses are absent and
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Findings Based on our review of the
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Description Explanation 2.7 Markets
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Description Explanation 4.8 Interna
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Description Explanation EC4 Signifi
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Description Explanation Emissions,
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Description Explanation Occupationa
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Description Explanation Freedom of
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Description Explanation Customer he
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Annual financial statements 197-320
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45.1 Operating segments 285 45.2 Se
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Dividend cover (times) Dividend cov
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Acronyms and abbreviations ABIL Afr
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Nine-year summarised group income s
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Currency adjusted group income stat
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Directors’ responsibility stateme
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Audit committee report The audit co
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Domestic Medium Term Note (DMTN) Pr
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Interest of directors of the compan
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■ Granting the general approval t
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Group income statement for the year
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Share based payment reserve Cash fl
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Notes to the group annual financial
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IFRS/IFRIC Title and details Expect
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IFRS/IFRIC Title and details Expect
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3. Critical accounting judgements a
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3.2.2 Impairment of advances >annua
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annual financial statements practic
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Business combinations >annual finan
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annual financial statements payment
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4.10.3 Subsequent measurement >annu
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annual financial statements A finan
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annual financial statements Bank or
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annual financial statements For the
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annual financial statements Ordinar
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4.20 Cost of sales 4.19.3.4 Deliver
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annual financial statements The sha
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annual financial statements the exp
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annual financial statements R milli
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9. Net advances continued 9.1 Credi
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9. Net advances continued 9.1 Credi
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R million Opening balance Recognise
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R million Carrying value at the beg
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R million Balance at the beginning
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annual financial statements R milli
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2012 2011 Unamortised discount Net
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Page 315 and 316: Company statement of comprehensive
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Page 323 and 324: Prefsure (Botswana) Limited Insuran
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Page 333 and 334: Contents Annual general meeting Not
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Page 343 and 344: Motivation for ordinary resolution
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Page 347 and 348: Leonidas (Leon) Kirkinis Chief exec
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Page 351 and 352: (iv) Directors’ interests in secu
Page 353 and 354: Application form: Electronic partic
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Page 357 and 358: annual general meeting Summary of s
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