Powerspeed Electrical Notice to Shareholders: Cash Dividend Offer

Notice is hereby given that for the year ended 30 September 2020, the board declared a final dividend of 4.75 cents per share. This dividend will be payable in full to all shareholders of the company registered at the close of business on 8 January 2021.

The terms of election for the currency to be used in the cash dividend offer will be mailed on 15 January 2021, 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; and
2. The amount of cash you will receive if you elect payment in United States Dollars.

The default election shall be option 1, payment in Zimbabwe 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 FORM OF ELECTION

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 Friday 5 February 2021. Shareholders are requested to use the following email address [email protected] and all emails shall be acknowledged.
3. If no form has been received from any members for whatever reason by the set time, the default shall apply and 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. CASH DIVIDENDS TO FOREIGN SHAREHOLDERS

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

G. TIMETABLE OF EVENTS

1.	Dividend announced	30 December 2020
2.	Record date	8 January 2021
3.	Share trade ex dividend	11 January 2021
4.	Mailing of election forms – 4.00 pm	15 January 2021
5.	Latest date of receipt of election forms	5 February 2021
6.	Announcement of results	8 February 2021
7.	Cash dividend paid	8 February 2021

 
By Order of the Board

MS Gurira Company Secretary Kelvin Road / Cripps Road Graniteside Harare, Zimbabwe

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

 

30 December 2020