REG-BACIT Limited: Dividend Declaration <Origin Href="QuoteRef">BACT.L</Origin>

SynconaAnnouncement

05/07/2016 18:35

BACIT Limited (the "Company") 
 
 (a closed-ended collective investment scheme established as a company with
limited liability under the laws of Guernsey with registered number 55514) 
 
 2016 Dividend 
 5 July 2016 
 
 The Board of the Company is pleased to announce a dividend equivalent to 2.20
pence per ordinary share for the year ended 31 March 2016 (the “2016
Dividend”). The 2016 Dividend will be paid on 19 August 2016 to holders of
ordinary shares recorded on the register as at the close of business on 15
July 2016. 
 
 The Board has determined that the 2016 Dividend will be paid to the
Qualifying Shareholders (as defined below) in the form of new ordinary shares
unless those shareholders elect to receive the dividend in cash instead. The
number of new shares that each Qualifying Shareholder will receive in payment
of the 2016 Dividend will be determined by multiplying the number of existing
shares held by the shareholder on the record date by the cash equivalent
amount of the 2016 Dividend per share and dividing the resulting number by the
net asset value per share of the Company as at 30 June 2016, and then rounding
the result down to the nearest whole number. Fractions of new shares will not
be issued and cash that otherwise would have been applied by the Company in
paying up those fractions will be retained by the Company. 
 
 A “Qualifying Shareholder” is a shareholder who is not located in, or
with a registered address in, or a citizen of any of the United States,
Australia, Canada, Japan, South Africa or any other jurisdiction in respect of
which the offer of new shares would or may be unlawful. 
 
 Shareholders who are not Qualifying Shareholders will receive the 2016
Dividend in cash. In addition, Qualifying Shareholders can elect to receive
the 2016 Dividend in cash. A circular and form of election will be sent to
shareholders during the week commencing 11 July 2016. Qualifying Shareholders
who wish to receive the 2016 Dividend in cash should complete and return the
form of election by 5.00pm on 3 August 2016. 
 
 Timetable: 
 
  Posting of Circular and Forms of Election                                                                                 Expected  during  the  week  commencing  11 July 2016        
  Shares quoted ex-dividend                                                                                                 14 July 2016                                                 
  Record date for dividend                                                                                                  15 July 2016                                                 
  Announcement of the 30 June 2016 NAV                                                                                      Expected  during  the  week  commencing  25 July 2016        
  Final date for receipt by the Receiving Agent of forms of election by Qualifying Shareholders who wish to receive cash    5 p.m. on 3 August 2016                                      
  Dividend payment date                                                                                                     19 August 2016                                               
  Shares to be issued and cash to be paid to shareholders who have opted for the cash dividend                              19 August 2016                                               
 
 In compliance with LR 9.6.1, copies of the following documents will be
submitted to the National Storage Mechanism at the same time as they are
issued and will be available for inspection at   www.hemscott.com/nsm.do : 
 
 1.2016 Dividend Circular 
 
 2.Form of election 
 
 Enquiries: 
 
 Company website:   www.bacitltd.com 
 
 Northern Trust International Fund Administration Services (Guernsey) Limited
Martin Bourgaize 
 
 +44 (0) 1481 745819 
 
 meb16@ntrs.com 
 
 Page 2 
 


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