REINET INVESTMENTS S.C.A - Reinet Securities SA Dividend dates in respect of South African depository receipts ('REI DR')

Reinet Securities SA – Dividend dates in respect of South African depository receipts ('REI DR')

Reinet Investments S.C.A. Depositary Receipts
issued by Reinet Securities SA
(Incorporated in Switzerland)
ISIN: CH0045793657
Depositary Receipt Code: REI

REINET SECURITIES SA – DIVIDEND DATES IN RESPECT OF SOUTH AFRICAN DEPOSITORY RECEIPTS ('REI DR')

The dividend payable to holders of Reinet Securities' DRs is derived from the dividend paid by Reinet Investments SCA, Luxembourg ('Reinet') to holders of Reinet shares.

The Reinet DR dividend payable to South African Common Monetary Area residents is payable in rand and will be effected via central security depository participants in Strate for all dematerialised holdings and Computershare Investor Services Proprietary Limited for those on the certificated register.

The Board has recommended a total dividend of EUR 0.157 per share from income reserves. It is anticipated that this dividend will be approved by shareholders of Reinet at the annual general meeting to be held on Tuesday 25 August 2015 in Luxembourg.

There is no Luxembourg withholding tax payable on dividends which may be declared by the Company.

In 2013 Reinet sought clarification from the South African Revenue Service ('SARS') as to the treatment of any dividends to be declared by the Company and paid to holders of Reinet Depository Receipts ('DRs'). SARS confirmed to Reinet that any such dividends would be treated as 'foreign dividends' as defined in the Income Tax Act No. 58 of 1962. Accordingly, any such dividends would be subject to South African dividends withholding tax at 15 per cent in the hands of DR holders unless those holders are otherwise exempt from the tax. Non-resident holders of DRs are required to fill in the appropriate SARS declaration form, if they wish to be exempted from the tax. 

As Reinet DR's trade in the ratio of 10 DRs to each Reinet share, the dividend entitlement per Reinet DR is as follows:

               Gross dividend    South African     Net dividend in
               per Reinet DR     dividend Tax      euros
               in euros          at 15%

               0.015700           (0.002355)         0.013345

The exchange rate applicable for the conversion of euro to rand for payment of the dividend will be confirmed in a separate announcement to be released on SENS on Friday, 21 August 2015.

The payment dates for the dividend in respect of the South African Reinet DRs are anticipated to be as follows:

Last date to trade ”cum dividend”      Friday, 28 August 2015

Trading commences ”ex-dividend” from
the commencement of business on        Monday, 31 August 2015

Reinet DR dividend record date         Friday, 4 September 2015

Reinet DR dividend payment date        Friday, 11 September 2015

Reinet DR holders may not dematerialise or rematerialise their holding of Reinet DRs between Monday, 31 August 2015 and Friday, 4 September 2015, both days inclusive.

Reinet Securities SA Depository Receipts are issued subject to the terms of the Deposit Agreement entered into on 17 October 2008, most recently amended on 15 December 2010. By holding Depository Receipts, investors acknowledge that they are bound by the terms of the Deposit Agreement. Copies of the Deposit Agreement may be obtained by investors from Reinet Securities SA or Computershare Investor Services Proprietary Limited.

Reinet Securities may appoint a depository agent or other parties to assist in the administration of the depository receipt programme and may provide to such agents such information as it deems to be appropriate, including information relating to the identity of holders of depository receipts.

28 May 2015

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 28/05/2015 07:32:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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