ENX Special Dividend Neutral
enX GROUP LIMITED - Finalisation Announcement Relating to the Special Distribution of R1.92 per Share
enX Group Limited
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What this filing means
enX Group has confirmed its previously declared R1.92 per share special distribution is unconditional following SARB approval, clearing the way for a R348 million capital return.
Bull case
- The R1.92 per share special distribution is now unconditional following the receipt of South African Reserve Bank exchange control approval.
- The total distribution returns approximately R348 million in capital to shareholders, confirming the completion of the previously declared restructure.
Bear case
- The distribution is classified as a dividend not funded from Contributed Tax Capital, attracting a 20% withholding tax that reduces the net payout to R1.536 per share for non-exempt investors.
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