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Announcement of Dividend Re-Investment Price and Confirmation of Finalisation Information
Growthpoint Properties Limited
REIT status approved
(Incorporated in the Republic of South Africa)
(Registration number 1987/004988/06)
Share code: GRT ISIN ZAE000179420
(“Growthpoint”)
ANNOUNCEMENT OF DIVIDEND RE-INVESTMENT PRICE AND CONFIRMATION OF FINALISATION
INFORMATION
Further to the announcement released on the Securities Exchange News Service (“SENS”) on Wednesday, 1
April 2015 of the declaration of the special cash dividend and dividend re-investment alternative in respect
of the three-month financial period ended 31 March 2015, the price applicable to Growthpoint shareholders
electing the dividend re-investment alternative and recorded in the register on Friday, 24 April 2015 (i.e.
the ‘Record Date’), is R27.25 (“Re-investment Price”).
The Reinvestment Price is based on a 3.64% discount to the 5-day volume weighted average price (ex the
special dividend for the three months ended 31 March 2015 of 44.50 cents), as at the close of business on
Thursday, 9 April 2015.
The Re-investment Price equates to a cum price of R27.57, which is a discount of 3.36% to the 5-day
volume weighted average cum price of R28.53 and a discount of 2.92% to the closing price of R28.40 on
Thursday, 9 April 2015.
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 Growthpoint shareholders dated
and posted on Wednesday, 1 April 2015 (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 44.50 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 37.82500 cents per share.
The impact of Dividend Tax on shareholders has been illustrated by way of the example below:
South African resident Non-resident
shareholders exempt shareholders subject to
from Dividend Tax Dividend Tax at 15%
Dividend per share (cents) 44.50000 44.50000
Dividend Tax per share (cents) (0.00000) (6.67500)
Total net dividend per share (cents) 44.50000 37.82500
Reinvestment Price (R) 27.25 27.25
New shares issued per 100 shares 1.63303 1.38807
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.
Other information:
- The number of ordinary issued shares of Growthpoint comprise 2 377 394 065 ordinary shares of no
par value before any election to reinvest the cash dividend.
- Income Tax Reference Number of Growthpoint: 9375/077/71/7.
Trading of Growthpoint shares
As published in the Results 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, 22 April 2015, due to the fact that settlement of the shares will be
three days after Record Date, being Thursday, 30 April 2015, which differs from the conventional one day
after Record Date settlement process.
Shareholders are reminded that the last day to elect to receive the dividend reinvestment alternative is
12:00 (South African time) on Friday, 24 April 2015.
The salient dates, timetable and all other information relating to the cash dividend and dividend
reinvestment alternative disclosed in the Results Announcement remain unchanged.
Sandton
10 April 2015
Sponsor and Investment Bank to Growthpoint
Investec Bank Limited
Date: 10/04/2015 11:28:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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