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ROLFES HOLDINGS LIMITED - Updated cash dividend declaration and finalisation announcement

Release Date: 24/02/2017 15:17:00      Code(s): RLF     
(Registration number 2000/002715/06)
Incorporated in South Africa
Share Code: RLF
ISIN: ZAE000159836
(?Rolfes? or ?the Group?)


Shareholders are referred to the unaudited condensed consolidated interim results for the period ended 31
December 2016, which was released on SENS on 20 February 2017, and are advised that the local dividend tax
rate was increased to 20% with an effective date of 22 February 2017. The cash dividend declaration data has
therefore been updated accordingly, as indicated below.

In accordance with Board policy to review dividend payments to shareholders at the end of each reporting period,
notice is hereby given that the Board declared a final gross cash dividend of 4 cents per ordinary share for the 6
months ended 31 December 2016 ("interim dividend"). The interim dividend will be payable to shareholders
recorded in the register of the Company at the close of business on the record date appearing below.

The number of ordinary shares in issue at the date of this declaration is 161 942 800.
The salient dates applicable to the interim dividend are as follows:

Declaration date:                          Monday, 20 February 2017
Last date to trade cum dividend:           Tuesday, 28 March 2017
Shares commence trading ex-dividend:       Wednesday, 29 March 2017
Record date:                               Friday, 31 March 2017
Payment Date:                              Monday, 3 April 2017

In accordance with paragraphs 11.17(c) (i) to (x) and 11.17(c) of the JSE Listings Requirements, the following
additional information is disclosed:

    -   The local dividends tax rate is 20%;
    -   The dividends will be paid from income reserves;
    -   The gross dividend to be used in determining the dividends tax is 4 cents per ordinary share;
    -   The dividend tax to be withheld by the Company is equal to 0.80000 cents per ordinary share;
    -   The gross dividend amount is 4 cents per ordinary share for shareholders exempt from dividends tax;
    -   The net dividend amount is 3.20000 cents per ordinary share for shareholders not exempt from dividends
    -   Rolfes Holdings Limited has 161 942 800 ordinary shares in issue (which includes 641 332 treasury
        shares); and
    -   Rolfes Holdings Limited?s income tax reference number is 9492/089/14/0.

Where applicable, payment in respect of certificated shareholders will be transferred electronically to
shareholders? bank accounts on the payment date. In the absence of specific mandates, payment cheques will be
posted to certificated shareholders at their risk on the payment date. Shareholders who have dematerialised their
shares will have their accounts at their Central Securities Depository Participant or broker credited on the
payment date.

No share certificates may be dematerialised between Wednesday, 29 March 2017 and Friday, 31 March 2017
both days inclusive.

24 February 2017
Grindrod Bank Limited

Date: 24/02/2017 03:17:00 Supplied by www.sharenet.co.za                     
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