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GROWTHPOINT PROPERTIES LIMITED - Announcement of dividend re-investment price and confirmation of finalisation information

Release Date: 13/09/2016 11:00
Code(s): GRT     PDF:  
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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 six months ended 30 June 2016
released on the Securities Exchange News Service (“SENS”) on Thursday, 1 September 2016 and in the press
on Friday, 2 September 2016, the price applicable to Growthpoint shareholders electing the dividend re-
investment alternative and recorded in the register on Friday, 23 September 2016 (i.e. the ‘Record Date’),
is R24.00 (“Re-investment Price”).

The Re-investment Price is based on a 3.15% discount to the 5-day volume weighted average price (ex the
dividend for the six months ended 30 June 2016 of 94.30 cents), as at the close of business on Monday, 12
September 2016.

The Re-investment Price equates to a cum price of R24.90, which is a discount of 2.97% to the 5-day volume
weighted average cum price of R25.66 and a discount of 0.99% to the closing price of R25.15 on Monday, 12
September 2016.


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
Tuesday, 6 September 2016 (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 94.30
cents per share.


Dividend Tax implications for non-resident shareholders
Dividends received from a REIT by a non-resident shareholder are 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 80.15500 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)                                          94.30000                     94.30000
  Dividend Tax per share (cents)                                     (0.00000)                   (14.14500)
  Total net dividend per share (cents)                                94.30000                     80.15500
  Re-investment Price (R)                                                24.00                        24.00
  New shares issued per 100 shares                                     3.92917                      3.33979


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 2,786,093,366 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 Friday, 23 September 2016, due to the fact that settlement of the shares will be three days
after Record Date, being Wednesday, 28 September 2016, 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, 23 September 2016.
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
13 September 2016

Financial Advisor and Sponsor to Growthpoint
Investec Bank Limited

Date: 13/09/2016 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.

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