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REDEFINE PROPERTIES LIMITED - Announcement of dividend reinvestment price and confirmation of finalisation information

Release Date: 14/11/2014 14:28
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Announcement of dividend reinvestment price and confirmation of finalisation information

REDEFINE PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1999/018591/06)
JSE share code: RDF ISIN: ZAE000190252
(Approved as a REIT by the JSE)
(“Redefine” or the “company”)


ANNOUNCEMENT OF DIVIDEND REINVESTMENT PRICE AND CONFIRMATION OF FINALISATION INFORMATION


Further to the declaration of a cash dividend of 38.14000 cents per share (the “cash dividend”) with an election to
reinvest the cash dividend in return for Redefine shares (the “share alternative”) announced on SENS on 6 November
2014 (the “declaration announcement”), the price per share, as determined on 14 November 2014, applicable to
Redefine shareholders electing the share alternative and recorded in the register on Friday, 28 November 2014 (i.e. the
“record date”’), is R9.50 per share (the “reinvestment price”). The reinvestment price is a 1.25% discount to the
five-day volume weighted average traded price (less the cash dividend) and a 1.67% discount to the closing spot price
(less the cash dividend) of Redefine shares on the JSE prior to the finalisation date.

The ratio in respect of the share alternative is 4.01474 shares : 100 shares held on the record date. Accordingly, the
number of new shares to be issued per 100 shares held on the record date is 4.01474 shares. Fractions will be rounded
up to the nearest whole number where the fraction is greater than or equal to 0.5 and rounded down to the nearest
whole number where the fraction is less than 0.5.

Dividend withholding tax (“dividend tax”) implications

Dividend Tax implications for South African resident shareholders

Dividends received from a Real Estate Investment Trust (“REIT”) are exempt from dividend tax in the hands of South
African resident shareholders provided that the shareholders have provided the requisite declaration as to residence as
detailed in paragraph 5 of the circular to Redefine shareholders dated and posted on Friday, 7 November 2014 (the
“circular”). South African resident shareholders, who have submitted the requisite documentation and are exempt
from dividend tax, will accordingly receive a net dividend of 38.14000 cents per share.

Dividend Tax implications for non-resident shareholders

Dividends received from a REIT by a non-resident shareholder will be subject to dividend 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 non-resident shareholder. A reduced dividend withholding rate in terms of the
applicable DTA may only be relied upon if the non-resident shareholder has provided the requisite documentation as
detailed in paragraph 5 of the circular. Non-resident shareholders who have submitted the requisite documentation and
assuming that a Dividend Tax rate of 15% is applicable, will accordingly receive a net dividend of 32.41900 cents per
share.

The impact of dividend tax on shareholders has been illustrated by way of the example below:

                                                     South Africa resident       Non-resident shareholders subject
                                                  shareholders exempt from                  to dividend tax at 15%
                                                              dividend tax
Dividend per share (cents)                                        38.14000                                38.14000
Dividend tax per share (cents)                                   (0.00000)                               (5.72100)
Total net dividend per share                                      38.14000                                32.41900
Reinvestment price (R)                                                9.50                                    9.50
New shares issued per 100 shares                                   4.01474                                 3.38411

Due to the fact that the cash dividend or dividend reinvestment alternative may have tax implications for resident and
non-resident shareholders, shareholders are encouraged to consult their professional advisors should they be in any
doubt as to the appropriate action to take.
Trading of Redefine shares

Shareholders are advised that, as per the published timetable, the last date to trade is Friday, 21 November 2014 and
the shares will trade ex-dividend on Monday, 24 November 2014.

As published in the declaration announcement, shareholders electing the share alternative are once again alerted to the
fact that the new shares will be listed on LDT + 3 and that these new shares can only be traded on LDT + 3 being
Wednesday, 26 November 2014, due to the fact that settlement of the shares will be three days after the record date,
being Wednesday, 3 December 2014, which differs from the conventional one day after record date settlement
process.

Shareholders are reminded that the last day to elect to receive the share alternative is 12:00 (South African time) on
Friday, 28 November 2014. No action is required if you wish to receive the cash dividend.

The salient dates, timetable and all other information relating to the dividend (including the tax implications) and
share alternative disclosed in the declaration announcement remain unchanged.

14 November 2014


Sponsor

Java Capital

Date: 14/11/2014 02:28:00 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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