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
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