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NEW FRONTIER PROPERTIES LIMITED - Update In Respect Of The Dividend For The Period Ended 31 August 2015

Release Date: 30/10/2015 15:19
Code(s): NFP     PDF:  
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Update In Respect Of The Dividend For The Period Ended 31 August 2015

New Frontier Properties Ltd
(Incorporated in the Republic of Mauritius on 5 June 2014)                     
(Registration number 123368C1/GBL)                                              
SEM share code: NFP.N000
JSE share code: NFP
ISIN: MU0453N00004
(“New Frontier” or the “company”)


UPDATE IN RESPECT OF THE DIVIDEND FOR THE PERIOD ENDED 31 AUGUST 2015


New Frontier shareholders are referred to the dividend declaration announced on Friday, 23 October 2015 and are
advised that shareholders on the South African share register will receive their cash dividend in South African Rands,
converted from GBP at an exchange rate of GBP1.00:ZAR21.193. Accordingly, the cash dividend of 3.04932 GBP
pence per share will be equal to 64.62424 ZAR cents per share.

The salient dates and times announced on Friday, 23 October 2015 remain unchanged.

SOUTH AFRICAN TAX IMPLICATIONS

For those South African tax resident shareholders receiving the dividend, such amount will be regarded as a foreign
dividend and may be subject to South African withholding tax at a rate of 15%, unless an exemption as set out in the
South African tax legislation applies.

In terms of the JSE Listings Requirements regarding dividends withholding tax in South Africa, the following
additional information is disclosed:

    -   the dividend will be paid out of the company’s distributable profits.
    -   the gross local dividend amount is 64.62424 ZAR cents per share;
    -   the net local dividend amount for shareholders:
        - exempt from the payment of dividends tax is 64.62424 ZAR cents per share; and
        - liable to pay dividends tax is 54.93060 ZAR cents per share;
    -   As at the date of this announcement, the company had 152 774 750 ordinary shares in issue;
    -   New Frontier’s tax reference number in Mauritius is: 27284422; and
    -   There is no withholding tax payable in Mauritius.

New Frontier has its primary listing on the SEM and a secondary listing on the Alternative Exchange of the JSE.

By order of the board


30 October 2015

This notice is issued pursuant to SEM Listing Rule 11.3 and Rule 5(1) of the Securities (Disclosure Obligations of
Reporting Issuers) Rules 2007. The Board of New Frontier Properties Ltd accepts full responsibility for the accuracy
of the information in this notice

For further information please contact:

JSE sponsor
Java Capital                                       +27 11 722 3050

Company secretary
Osiris Corporate Solutions (Mauritius) Ltd         +230 650 4030

Date: 30/10/2015 03:19:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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