GLOBE TRADE CENTRE S.A. - Notice to GTC shareholders in respect of the tax implications for the cash dividend

Notice to GTC shareholders in respect of the tax implications for the cash dividend

GLOBE TRADE CENTRE S.A.
(Incorporated and registered in Poland with KRS No. 61500)
(Share code on the WSE: GTC)
(Share code on the JSE: GTC ISIN: PLGTC0000037)
(“GTC” or “the Company”)

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES
OF AMERICA, CANADA, JAPAN OR AUSTRALIA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DO SO

NOTICE TO GTC SHAREHOLDERS IN RESPECT OF THE TAX IMPLICATIONS FOR THE CASH DIVIDEND

Further to the announcements made on 18 May and 22 May 2017, shareholders are now advised that:

    -    The gross amount of the dividend will be subject to a Polish dividend withholding tax (“PWHT”) of
         19%. Such withholding tax may be reduced to 15% in terms of the double tax treaty in force between
         Poland and South Africa. Application of the reduced 15% PWHT requires from shareholders the
         submission of an up-to-date South African certificate of their tax residence to the Company prior to
         the payment of the dividend.

    -    The Dividend will also be subject to South African Dividends Tax (“SADWT”) at the rate of 20%, unless
         a shareholder qualifies for an exemption. Any shareholder who receives a Dividend which is subject to
         SADWT (i.e. where no exemption is available) will qualify for a 15% reduction in dividends tax. The
         ultimate result in such a case is that the Dividend will be subject to a reduced PWHT of 15% and
         subject to South African Dividends Tax at a rate of 5%.

The information provided above does not constitute tax advice and is only provided as a general guide on the
Polish and South African tax treatment of the cash dividend declaration by GTC to South African tax resident
shareholders. For shareholders residing outside of South Africa, the dividend may have other legal or tax
implications and such shareholders are advised to obtain appropriate advice from their professional advisers in
this regard. Tax matters are complex, and the tax consequences to a particular shareholder will depend in part
on such shareholder's circumstances. Accordingly, a shareholder is urged to consult his own tax advisor for a
full understanding of the tax consequences to him, including the applicability and effect of Polish tax laws.



Date: 2 June 2017

Warsaw, Poland
Sponsor: Investec Bank Limited

Legal disclaimer

The material set forth herein constitutes the fulfilment of the applicable disclosure obligations of the Company.
The publication of this communication is for information purposes only and does not constitute the making
available of information to promote the purchase or acquisition of securities or an inducement of their
purchase or acquisition, including within the meaning of Article 53 section 1 of Polish Act of 29 July 2005 on
Public Offering, the Conditions Governing the Introduction of Financial Instruments to Organised Trading, and
Public Companies, as amended, and does not constitute a promotional campaign within the meaning of Article
53 section 2 of such act.

The Company’s securities have not been and will not be registered under the U.S. Securities Act of 1933, as
amended (the “Securities Act”), or the laws of any state, and may only be offered or sold within the United
States under an exemption from, or in a transaction not subject to, the registration requirements of the
Securities Act and applicable state laws. No public offering of the Company’s securities will be made in the
United States.
It may be unlawful to distribute this document in certain jurisdictions. In particular this document is not for
distribution in the United States, Canada, Japan or Australia.

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