Steamships Trading : Notice of Dividend Distribution

Notification of dividend / distribution

Update Summary

Entity name

STEAMSHIPS TRADING COMPANY LIMITED

Security on which the Distribution will be paid

SST - 50 TOEA ORDINARY FULLY PAID

Announcement Type

Update to previous announcement

Date of this announcement

Thursday March 5, 2020

Reason for the Update

Amendment made to the exchange rate at Part 2A.9c and clarification on the dividend approval in Part 5.2.

Additional Information

The final dividend declared for 2019 is Fifty Five Toea (PGK0.55) which is equivalent to $0.24 converted at approximate exchange rate of 2.22 is subject to approval of the Board of Directors at the Board Meeting on 13 March 2020. However, actual amount paid equivalent in AUD will depend on exchange rate secured on Payment Date (Monday August 3, 2020).

Refer to below for full details of the announcement

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Notification of dividend / distribution

Announcement Details

Part 1 - Entity and announcement details

1.1 Name of +Entity

STEAMSHIPS TRADING COMPANY LIMITED

1.2	Registered Number Type	Registration Number
ARBN	055836952
1.3	ASX issuer code
SST

1.4 The announcement is

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Amendment made to the exchange rate at Part 2A.9c and clarification on the dividend approval in Part 5.2.

1.4b Date of previous announcement(s) to this update

Monday March 2, 2020

1.5 Date of this announcement

Thursday March 5, 2020

1.6 ASX +Security Code

SST

ASX +Security Description

50 TOEA ORDINARY FULLY PAID

Part 2A - All dividends/distributions basic details

2A.1 Type of dividend/distribution

Ordinary

2A.2 The Dividend/distribution:

relates to a period of six months

2A.3 The dividend/distribution relates to the financial reporting or payment period ending ended/ending (date)

Tuesday December 31, 2019

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2A.4 +Record Date

Thursday April 30, 2020

2A.5 Ex Date

Wednesday April 29, 2020

2A.6 Payment Date

Monday August 3, 2020

2A.7 Are any of the below approvals required for the dividend/distribution before business day 0 of the timetable?

Security holder approval

Court approval

Lodgement of court order with +ASIC

ACCC approval

FIRB approval

Another approval/condition external to the entity required before business day 0 of the timetable for the dividend/distribution.

No

2A.8 Currency in which the dividend/distribution is made ("primary currency")

PGK - Kina

2A.9 Total dividend/distribution payment amount per +security (in primary currency) for all dividends/distributions notified in this form

$ 0.55000000

2A.9a AUD equivalent to total dividend/distribution amount per +security

$ 0.24000000

2A.9c FX rate (in format AUD 1.00 / primary currency rate): AUD

FX rate (in format AUD rate/primary currency rate) Primary Currency rate

AUD 1.00

$ 2.22000000

2A.10 Does the entity have arrangements relating to the currency in which the dividend/distribution is paid to securityholders that it wishes to disclose to the market? No

2A.11 Does the entity have a securities plan for dividends/distributions on this +security?

We do not have a securities plan for dividends/distributions on this security

2A.12 Does the +entity have tax component information apart from franking?

No

2A.13 Withholding tax rate applicable to the dividend/distribution (%)

15.000000 %

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Part 3A - Ordinary dividend/distribution
3A.1 Is the ordinary dividend/distribution estimated at	3A.1a Ordinary dividend/distribution estimated amount
this time?	per +security
No	$
3A.1b Ordinary Dividend/distribution amount per
security
$ 0.55000000
3A.2 Is the ordinary dividend/distribution franked?
No
3A.3 Percentage of ordinary dividend/distribution that is
franked

0.0000 %

3A.4 Ordinary dividend/distribution franked amount per +security

$ 0.00000000

3A.6 Ordinary dividend/distribution unfranked amount per +security excluding conduit foreign income amount

3A.5 Percentage amount of dividend which is unfranked

100.0000 %

$ 0.55000000

Part 5 - Further information

5.1 Please provide any further information applicable to this dividend/distribution

Dividend distributions in Australian Dollars to non-resident PNG shareholders on the 3rd August 2020 is dependent on the company's ability to secure foreign exchange. Currently due to Bank of Papua New Guinea exchange controls.

there is a large back log of currency purchase orders.

5.2 Additional information for inclusion in the Announcement Summary

The final dividend declared for 2019 is Fifty Five Toea (PGK0.55) which is equivalent to $0.24 converted at approximate exchange rate of 2.22 is subject to approval of the Board of Directors at the Board Meeting on 13 March 2020. However, actual amount paid equivalent in AUD will depend on exchange rate secured on Payment Date (Monday August 3, 2020).

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