Wrap Text
Interest distributions for the quarter ended 31 December 2013 - Salient Dates
ARROWHEAD PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2011/000308/06)
JSE share code: AWA ISIN: ZAE000158101
JSE share code: AWB ISIN: ZAE000158119
(Approved as a REIT by the JSE)
(“Arrowhead” or the “company”)
INTEREST DISTRIBUTIONS FOR THE QUARTER ENDED 31 DECEMBER 2013 – SALIENT DATES
The board of directors has approved and notice is hereby given of cash interest distributions (distribution number 9) of 15.10 cents per
A-linked unit and 15.10 cents per B-linked unit for the quarter ended 31 December 2013 in accordance with the salient dates set out
below:
2014
Last date to trade cum distribution Friday, 28 February
Linked units trade ex distribution Monday, 3 March
Record date Friday, 7 March
Payment date Monday, 10 March
Linked unit certificates may not be dematerialised or rematerialised between Monday, 3 March 2014 and Friday, 7 March 2014, both days
inclusive.
The combined distribution per A and B-linked unit is 30.20 cents, 11,4% higher than the combined distribution of 27.10 cents for the
comparative quarter ended 31 December 2012. This quarter also marks the first quarter in which the A-linked units participate in the
distribution growth as the distribution exceeds 15 cents per A-linked unit, far sooner than anticipated by the market.
As Arrowhead has Real Estate Investment Trust (“REIT”) status with the JSE Limited (“JSE”), linked unitholders are advised that the
distributions meet the requirements of a “qualifying distribution” for the purposes of section 25BB of the Income Tax Act, No. 58 of 1962
(“Income Tax Act”). The distributions on the linked units will be deemed to be dividends, for South African tax purposes, in terms of
section 25BB of the Income Tax Act.
The distributions received by or accrued to South African tax residents must be included in the gross income of such linked unitholders
and will not be exempt from income tax (in terms of the exclusion to the general dividend exemption, contained in paragraph (aa) of
section 10(1)(k)(i) of the Income Tax Act) because they are dividends distributed by a REIT. These distributions are, however, exempt
from dividend withholding tax in the hands of South African tax resident linked unitholders, provided that the South African resident
linked unitholders provided the following forms to the Central Securities Depository Participant (“CSDP”) or broker, as the case may be,
in respect of uncertificated linked units, or the company, in respect of certificated linked units:
a) a declaration that the distribution is exempt from dividends tax; and
b) a written undertaking to inform the CSDP, broker or the company, as the case may be, should the circumstances affecting the
exemption change or the beneficial owner cease to be the beneficial owner,
both in the form prescribed by the Commissioner for the South African Revenue Service. Linked unitholders are advised to contact the
CSDP, broker or the company, as the case may be, to arrange for the abovementioned documents to be submitted prior to payment of the
distribution, if such documents have not already been submitted.
Distributions received by non-resident linked unitholders will not be taxable as income and instead will be treated as ordinary dividends
which are exempt from income tax in terms of the general dividend exemption in section 10(1)(k)(i) of the Income Tax Act. It should be
noted that up to 31 December 2013 distributions received by non-residents from a REIT were not subject to dividend withholding tax.
From 1 January 2014, any distribution received by a non-resident from a REIT will be subject to dividend withholding tax at 15%, unless
the rate is reduced in terms of any applicable agreement for the avoidance of double taxation (“DTA”) between South Africa and the
country of residence of the linked unitholder. Assuming dividend withholding tax will be withheld at a rate of 15%, the net dividend
amount due to non-resident linked unitholders is 12.835 cents per A-linked unit and 12.835 cents per B-linked unit. A reduced dividend
withholding rate in terms of the applicable DTA, may only be relied on if the non-resident linked unitholder has provided the following
forms to the CSDP or broker, as the case may be, in respect of uncertificated linked units, or the company, in respect of certificated linked
units:
a) a declaration that the dividend is subject to a reduced rate as a result of the application of a DTA; and
b) a written undertaking to inform the CSDP, broker or the company, as the case may be, should the circumstances affecting the
reduced rate change or the beneficial owner cease to be the beneficial owner,
both in the form prescribed by the Commissioner for the South African Revenue Service. Non-resident linked unitholders are advised to
contact the CSDP, broker or the company, as the case may be, to arrange for the abovementioned documents to be submitted prior to
payment of the distribution if such documents have not already been submitted, if applicable.
Linked unitholders are encouraged to consult their professional advisors should they be in any doubt as to the appropriate action to take.
A-linked units in issue at the date of declaration of interim distribution: 289 953 385
B-linked units in issue at the date of declaration of interim distribution: 289 953 385
Arrowhead income tax reference number: 9779439158
12 February 2014
Sponsor
Java Capital
Date: 12/02/2014 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
