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Notice to MAS shareholders in respect of the dividend for the ten months ended 31 December 2013
MAS Real Estate Inc.
Registered in the British Virgin Islands
Registration number 1750199
Registered as an external company in the Republic of South Africa
Registration number 2010/000338/10
SEDOL (XLUX): B96VLJ5
SEDOL (ALTX): B96TSD2
JSE share code: MSP
ISIN: VGG5884M1041
(“MAS” or the “Company”)
NOTICE TO MAS SHAREHOLDERS IN RESPECT OF THE DIVIDEND FOR THE TEN MONTHS ENDED 31 DECEMBER 2013
Introduction
As announced on 27 January 2014, a total dividend of €1 680 229 was proposed. Shareholders are now advised that the board of the Company has
approved a dividend of €0.60 euro cents per share for the ten months ended 31 December 2013 (the “Dividend”). The Dividend will be paid to those
entitled to it by way of an issue of new ordinary shares of no par value in MAS (“New Shares”) credited as fully paid, except for those shareholders
who elect to receive the Dividend by way of a cash payment in lieu of New Shares (the “Cash Dividend”). The New Shares will be issued at €1.20
per share and will rank pari passu in all respects with the existing shares in the Company.
The rationale for the issue of New Shares is to afford shareholders the opportunity to increase their shareholding in the Com pany and retain the
Company’s flexibility on cash resources. In line with the Company’s policy, the Dividend is funded out of adjusted core income.
As at the date of this announcement, the Company had 278 146 053 ordinary, no par value shares in issue.
Salient dates and times
The salient dates and times of the Dividend for shareholders on the European share register and shareholders on the South African share register
are set out below.
2014
Announcement of euro to rand conversion rate (relevant to shareholders on the South African share register only) on Friday, 23 May
Last day to trade on the Luxembourg Stock Exchange and the JSE in order to be eligible for receipt of the Dividend on Friday, 30 May
Trading commences ex-dividend on the Luxembourg Stock Exchange and the JSE on Monday, 2 June
Record date for shareholders recorded on the European And South African share registers on Friday, 6 June
Closing date for receipt of completed Cash Dividend election forms by no later than 12:00 CET on Friday, 6 June
Share certificates and dividend cheques posted, CREST/CSDP/participant/broker accounts credited/updated, payment of the
Cash Dividend/ issuance and listing of New Shares on the Luxembourg Stock Exchange and JSE on Friday, 13 June
Announcement on the Luxembourg Stock Exchange website and SENS of the number of New Shares issued and listed on Friday, 13 June
Share certificates may not be dematerialised or rematerialised between Monday, 2 June 2014 and Friday, 6 June 2014, both days included and
transfers between the European and South African share registers may not take place during that period.
Dematerialised shareholders should not trade their share entitlements until the shares have been updated to their account with their CSDP or
broker.
Shareholders who do not send a duly-completed Cash Dividend election form to the Company for receipt by it before 12:00 CET on Friday, 6 June
2014 will receive their entitlement in New Shares.
Tax considerations
There is no withholding tax payable in the British Virgin Islands.
South African resident shareholders:
As the Company is not a South African registered company, it does not have any STC credits.
The issue of New Shares or the Cash Dividend may have tax implications for shareholders.
The receipt of New Shares by South African resident shareholders should not be classified as a dividend or a foreign dividend for South African tax
purposes and accordingly South African dividends tax should not be levied on the New Shares. However, the legislation in this regard is complex
and its implementation is currently uncertain. Accordingly, shareholders should seek independent professional tax advice. For those South African
resident shareholders receiving the Cash Dividend, such amount will be regarded as a foreign dividend but may be subject to South African
dividends tax at a rate of 15%, unless an exemption as set out in the South African Income Tax legislation applies.
A notice to MAS shareholders in respect of the Dividend together with accompanying election forms, have been posted to shareholders today,
Thursday, 15 May 2014.
Shareholders residing outside South Africa
The issue of New Shares or the Cash Dividend may have legal or tax implications for shareholders residing outside of South Africa and such
shareholders are advised to obtain appropriate advice from their professional advisers in this regard.
MAS has its primary listing on the Euro MTF Market of the Luxembourg Stock Exchange and a secondary listing on the Alternative Exchange of the
JSE.
15 May 2014
For further information please contact:
Helen Cullen, Company Secretary, MAS Real Estate Inc. +44 1624 625000
Java Capital, South African corporate advisor and JSE Sponsor +27 11 2830042
Charl Brand, M Partners, Luxembourg +352 263 868 602
Date: 15/05/2014 05:15:00 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.
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