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SCIB: REIT Distribution announcement in relation to the RDF share RDFSTE
The Standard Bank Of South Africa Limited
REIT Distribution announcement in relation to the RDF share
Share Code: RDFSTE
ISIN Code: ZAE000196234
12/11/2014
REIT DISTRIBUTION ANNOUNCEMENT IN RELATION TO THE RDF SHARE INSTALMENT
Notice is hereby given that as a result of the REIT Distribution declaration
relating to REDEFINE PROPERTIES LIMITED (RDF) shares, the holders of RDFSTE
share instalments will receive a REDEFINE PROPERTIES LIMITED (RDF) REIT
Distribution of 38.14 cents per Instalment.
As per the Redefine SENS announcement issued on 06/11/2014:
Redefine was granted REIT status by the JSE Limited with effect from 1 September
2013 in line with the REIT structure as provided for in the Income Tax Act, No.
58 of 1962, as amended (the Income Tax Act) and section 13 of the JSE Listings
Requirements.
The REIT structure is a tax regime that allows a REIT to deduct qualifying
distributions paid to investors, in determining its taxable income:
The cash dividend of 38,14000 cents per share meets the requirements of a
qualifying distribution for the purposes of section 25BB of the Income Tax Act
(a qualifying distribution) with the result that:
- qualifying distributions received by resident Redefine shareholders must be
included in the gross income of such shareholders (as a non-exempt dividend in
terms of section 10(1)(k)(aa) of the Income Tax Act), with the effect that the
qualifying distribution is taxable as income in the hands of the Redefine
shareholder. These qualifying distributions are however exempt from dividends
withholding tax, provided that the South African resident shareholders provided
the following forms to their CSDP or broker, as the case may be, in respect of
uncertificated shares, or the company, in respect
of certificated shares:
- a declaration that the dividends are exempt from dividends tax; and
- 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. Shareholders are advised
to contact their 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.
- qualifying distributions received by non-resident Redefine shareholders will
not be taxable as income and instead will be treated as ordinary dividends but
which are exempt in terms of the usual dividend exemptions per section 10(1)(k)
of the Income Tax Act. It should be noted that until 31 December 2013 qualifying
distributions received by non-residents were not subject to dividends
withholding tax. From 1 January 2014, any qualifying distribution will be
subject to dividends 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 unitholder. Assuming dividends
withholding tax will be withheld at a rate of 15%, the net dividend amount due
to non-resident shareholders is 32,41900 cents per share. A reduced dividend
withholding rate in terms of the applicable DTA, may only be relied upon if the
non-resident shareholder has provided the following forms to their CSDP or
broker, as the case may be, in respect of uncertificated shares, or the company,
in respect of certificated shares:
- a declaration that the dividend is subject to a reduced rate as a result of
the application of a DTA; and
- a written undertaking to inform their 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
shareholders are advised to contact their CSDP, broker or the company, as the
case may be, to arrange for the abovementioned documents to be submitted prior
to payment of the dividend if such documents have not already been submitted, if
applicable.
Last date to trade cum REIT Distribution Friday, 21/11/2014
Ex-REIT Distribution Date Monday, 24/11/2014
Record Date, Friday, 28/11/2014
Payment Date, Monday, 1/12/2014
For more details relating to this REIT payment please refer to the SENS
announcement issued by REDEFINE PROPERTIES LIMITED on 06/11/2014
For further information contact:
Standard Bank Warrants
Tel 0800 111 780
Email: derivatives@standardbank.co.za
Issuer: The Standard Bank of South Africa Limited
Sponsor: SBG Securities (Pty) Limited
This notice should be read together with the Common Terms Document, Conditions
Annexure and relevant Supplement which collectively record the terms and
conditions of the agreement between the Issuer and Warrant holders.
Date: 12/05/2015 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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