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Announcement of dividend re-investment price and confirmation of finalisation information
Growthpoint Properties Limited
Approved as a REIT by the JSE
(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 of the declaration of the final dividend and dividend re-investment alternative
included in Growthpoint’s results (“Results Announcement”) in respect of the three month financial period
ended 30 June 2015 released on the Securities Exchange News Service (“SENS”) on Wednesday, 26 August
2015 and in the press on Thursday, 27 August 2015, the price applicable to Growthpoint shareholders electing
the dividend re-investment alternative and recorded in the register on Friday, 18 September 2015 (i.e. the
‘Record Date’), is R25.00 (“Re-investment Price”).
The Re-investment Price is based on a 1.29% discount to the 5-day volume weighted average price (ex the
dividend for the three month period ended 30 June 2015 of 44.50 cents) and represents a discount of 5.84%
to the 30-day volume weighted average price (ex the distribution for the three month period ended 30 June
2015 0f 44.50 cents), as at the close of business on Thursday, 3 September 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
Friday, 28 August 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 37.825000 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
Re-investment Price (R) 25.00 25.00
New shares issued per 100 shares 1.78000 1.51300
Due to the fact that the cash dividend or dividend re-investment 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 2 711 056 264 ordinary shares of no
par value before any election to re-invest 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, 16 September 2015, due to the fact that settlement of the shares will be three
days after Record Date, being Wednesday, 23 September 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 re-investment alternative is
12:00 (South African time) on Friday, 18 September 2015.
The salient dates, timetable and all other information relating to the cash dividend and dividend re-
investment alternative disclosed in the Results Announcement remain unchanged.
Sandton
4 September 2015
Sponsor and Investment Bank to Growthpoint
Investec Bank Limited
Date: 04/09/2015 10:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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