An anonymous director reports
BANRO PROVIDES INFORMATION FOR HOLDERS OF SERIES A PREFERENCE SHARES OF BANRO AND PREFERRED SHARES OF BANRO GROUP (BARBADOS) LIMITED
Banro Corp. is notifying holders of Series A preference shares of Banro and holders of preferred shares of Banro Group (Barbados) Ltd. of the following information necessary to calculate the amount of dividends payable on such shares in respect of the Sept. 30, 2014, dividend payment date. This information is being provided as per the requirements of the articles of Banro and Banro Group (Barbados). Defined terms in this press release which are not otherwise defined shall have the meaning given to them in such articles.
- The simple average of the reference gold price during the three-month
period ended on June 30, 2014, is $1,289 (U.S.).
- The relevant number for the purposes of the calculation of the dividend
liquidation preference is 0.017501.
- There were no dividends accrued and unpaid on the Banro Series A shares
or the Barbados preferred shares immediately prior to Sept. 30,
2014.
- The monthly production level for the second quarter of 2014 was 7,630
ounces of gold per month, such that the annual dividend yield in respect
of the Sept. 30, 2014, dividend payment date is 10.0 per cent.
It is expected that the subject accrued dividends will be paid on March 20, 2015.
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