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RESULTS OF SHAREHOLDERS’ MEETING AND DIVIDEND TAX INFORMATION
BUILDMAX LIMITED
Incorporated in the Republic of South Africa
(Registration No. 1995/012209/06)
Share Code: BDM
ISIN Code: ZAE000011250
("Buildmax" or the Company)
RESULTS OF SHAREHOLDERS MEETING AND DIVIDEND TAX INFORMATION
1. Results of shareholders meeting
Shareholders of Buildmax (Shareholders) are advised that, at the Companys shareholders meeting
held on Tuesday, 16 October 2012, all the ordinary and special resolutions were approved by 100% of
the Shareholders present or represented.
2. Dividend tax
As a result of the approval of an odd-lot offer and specific offer to certain Shareholders, full
details of which were set out in an announcement dated 25 September 2012 (the Offers), Shareholders
are advised that the repurchase of shares in terms of the Offers will be funded out of existing reserves
of Buildmax. As a result, and due to the fact that the Offers will not constitute a general repurchase
of securities as contemplated in subparagraph (b) of paragraph 5.67(B) of section 5 of the Listings
Requirements, the purchase consideration payable to Shareholders will constitute a dividend
as defined in section 1 of the Income Tax Act, No. 58 of 1962. The effect thereof for Shareholders
is that dividend tax at the rate of 15% will be required to be withheld from the repurchase consideration
in accordance with the requirements of sections 64E and 64H of the Income Tax Act, No. 58 of 1962.
No STC credits will be utilised.
Based on the offer price of 14.14 cents per share pertaining to the Offers, the:
- gross local dividend will amount to 14.14 cents per share for Shareholders exempt from the dividend tax;
- net local dividend will amount is 12.019 cents per share for Shareholders liable to pay the dividend tax; and
- local dividend withholding tax will amount to 2.121 cents per share for Shareholders liable to pay
the dividend withholding tax.
Buildmax currently has 3 444 715 942 ordinary shares in issue and its income tax reference number is 9409789840.
Benoni
17 October 2012
Sponsor
QuestCo (Pty) Limited
Date: 17/10/2012 05:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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