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Cash payment in respect of the fractional entitlement
Rockcastle Global Real Estate Company Limited
(Incorporated in the Republic of Mauritius)
(Registration number: 108869 C1/GBL)
JSE share code: ROC
SEM share code: ROCK.N0000
ISIN: MU0364N00003
(“Rockcastle” or “the company”)
CASH PAYMENT IN RESPECT OF THE FRACTIONAL ENTITLEMENT
Rockcastle shareholders are referred to the previous announcements relating to the scrip dividend, the last of which
was released on SENS and on the website of the Stock Exchange of Mauritius Ltd on Thursday, 1 September 2016.
Shareholders who elect to receive the scrip dividend instead of the cash dividend will be entitled to 1.937 new
Rockcastle shares for every 100 Rockcastle shares held by the shareholder at the record date (“scrip dividend ratio”),
being Friday, 9 September 2016.
The allocation of new Rockcastle shares will be such that shareholders who elect to receive the scrip dividend will not
be allocated a fraction of a new Rockcastle share.
For shareholders on the South African register, any entitlement to receive a fraction of a new Rockcastle share will be
rounded down to the nearest whole number, with a cash payment being made to the relevant shareholder in respect of
the fraction (“new rounding principle”).
In accordance with the requirements of the JSE Limited, the cash payment has been determined with reference to the
weighted average price of a Rockcastle share traded on the JSE on Wednesday, 7 September 2016 (being the day on
which the Rockcastle shares began trading ‘ex’ the entitlement to receive the scrip dividend or cash dividend
alternative), discounted by 10%.
The receipt of the cash payment in respect of the fractional entitlement may have tax implications for shareholders.
For those South African resident shareholders receiving the cash payment, such amount will be regarded as a foreign
dividend and may be subject to South African dividends withholding tax at a rate of 15%, unless an exemption as set
out in the South African tax legislation applies.
Shareholders are accordingly advised that the applicable gross cash payment per fractional entitlement is R32.39. The
net cash payment per fractional entitlement is R27.53150 for shareholders liable to pay dividends tax at the rate of
15%.
Example of scrip dividend entitlement:
Assuming that a shareholder holds 100 Rockcastle shares at the close of business on the record date, being Friday,
9 September 2016 and elects to receive the scrip dividend in respect of all of their shareholding, such shareholder is
entitled to receive 1.937 new Rockcastle shares based on the scrip dividend ratio above. Applying the new rounding
principle, such shareholder will receive 1 new Rockcastle share and a cash payment (after tax) in respect of the
fractional entitlement based on the R27.53150 referred to above of 0.937 x R27.53150 = R25.79702.
For shareholders on the Mauritian register, any entitlement to receive a fraction of a new Rockcastle share which:
- is less than one-half of a new Rockcastle share, will be rounded down to the nearest whole number; and
- is equal to or greater than one-half of a new Rockcastle share but less than a whole new Rockcastle share, will be
rounded up to the nearest whole number.
No fractions of new Rockcastle shares will be issued, nor will any residual entitlements be carried forward to any
future scrip dividend issues.
There is no withholding tax payable in Mauritius.
The salient dates and times announced on Friday, 19 August 2016 remain unchanged.
Rockcastle has its primary listings on both the Stock Exchange of Mauritius Ltd and the Johannesburg Stock
Exchange.
By order of the Board
For further information please contact:
Intercontinental Trust Limited
Company secretary +230 403 0800
Java Capital
JSE sponsor +27 11 277 3050
Perigeum Capital Ltd
SEM Authorised Representative and Sponsor +230 402 0890
8 September 2016
This notice is issued pursuant to JSE Listings Requirements and SEM Listing Rule 11.3 and Rule 5(1) of the Securities (Disclosure Obligations
of Reporting Issuers) Rules 2007.
The Board of Directors of Rockcastle Global Real Estate Company Limited accepts full responsibility for the accuracy of the information
contained in this announcement.
Date: 08/09/2016 11:00:00 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.
