Ann: GENERAL: KFL: Broker Handling Fee on Kingfish Warrants

• Release Date: 29/09/15 09:38
• Summary: GENERAL: KFL: Broker Handling Fee on Kingfish Warrants
• Price Sensitive: No
• Download Document  4.41KB

					KFL
29/09/2015 09:38
GENERAL
NOT PRICE SENSITIVE
REL: 0938 HRS Kingfish Limited

GENERAL: KFL: Broker Handling Fee on Kingfish Warrants

Kingfish Limited ("Kingfish" or "the company") would like to advise brokers
that it offers a broker handling fee in respect of the exercise of Kingfish
warrants ("KFLWC"). The exercise date is       6 November 2015.

Kingfish recognises there is an administration cost and time involved in the
warrant exercise process for brokers and, as such, pays brokers 0.4% of the
total consideration payable for warrants exercised per beneficial holder.

On 25 September 2015, the Kingfish share price closed at $1.28 and has traded
between $1.27   and $1.36 in the last month. The latest undiluted Kingfish
net asset value is $1.2685 per share on     23 September 2015. The
warrant exercise price is $1.18.

The company would also like to remind brokers that it has a long-term
quarterly dividend policy whereby it pays 2% of average net asset value each
quarter. The next dividend payment will be made on 18 December 2015.

All shares allotted upon the exercise of warrants on 6 November 2015 will be
eligible for the December 2015 dividend and all future dividend payments.

Process:
If an advisor recommends the exercise of Kingfish warrants and the holder
agrees to exercise their warrants, the advisor will:

1. For individual clients (who are registered holders of warrants),
request that they complete an exercise form, attach a cheque/direct credit
funds into advisor firm bank account and send it to the advisor. The advisor
will stamp the warrant exercise form with the broker stamp, add the advisor's
code and forward the document and payment to Computershare by the exercise
date.

Alternatively, for ease of administration, the advisor may request the client
to handwrite the advisor firm's name and advisor's code in the "broker's
stamp" box on the warrant exercise form and send it directly to Computershare
with the payment.  If the broker's stamp is not completed fully,
Computershare will code the form as "None", meaning no brokerage fee will be
calculated for that form.

2. For clients in a custodial/nominee account, collate and summarise the
information on clients electing to exercise their warrants through the
advisor firm's internal processes and complete one warrant exercise form per
registered holder, stamp the broker's stamp box and add the advisor's code.
This and the associated payment are to be forwarded to Computershare by the
exercise date.

3. Advisors can arrange with Computershare to direct credit funds to the
Computershare bank account using a unique deposit reference.

4. Computershare will process the warrant exercise forms and payments
and allot shares following close-off within three business days after the
exercise date. The company may (but is not obliged to) extend the close-off
date taking into account late receipt of exercise forms (postmarked on or
before the exercise date).

5. Computershare will record the brokerage against the forms accepted.
If the box is not completed fully or accurately, Computershare will code the
form "None" for brokerage fee calculation purposes.

6. Brokerage calculation report - detailed and summary report to be
generated by Computershare and sent to the company for review.

The company will email the report to the head office of each advisor.
Advisors are required to confirm within five working days, by signing and
dating the report that they have provided advice to all their respective
clients for whom a brokerage fee has been calculated. The advisor's head
office will email the duly signed report back to the company.

7. Following approval and receipt of the signed report, total fees
payable will be credited to Computershare's bank account. Computershare will
pay the fee to the advisor firm's head office. A brokerage calculation report
will be provided with remittance of payment advice (usually paid by direct
credit, or by cheque) which shows advisor code and address, underlying
registered holder application acceptance detail and brokerage calculated. Fee
payments are expected to take place around 10 working days following receipt
of the signed broker report.

8. Any queries relating to the remittance of broker's fees to be
directed to Computershare. If the coding as processed by Computershare is
correct (i.e. matches the form), they will not enter into any disputes that
may arise with brokers.
End CA:00270909 For:KFL    Type:GENERAL    Time:2015-09-29 09:38:46