NEW FRONTIER PROPERTIES LIMITED - Finalisation announcement in respect of the final dividend for the year ended 31 August 2016

Finalisation announcement in respect of the final dividend for the year ended 31 August 2016

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”)


FINALISATION ANNOUNCEMENT IN RESPECT OF THE FINAL DIVIDEND FOR THE YEAR ENDED 31 AUGUST 2016


New Frontier has a dual primary listing on the Stock Exchange of Mauritius Ltd (“SEM”) and the Alternative
Exchange of the JSE (“JSE”).

Shareholders are referred to the announcement released on 17 October 2016, wherein they were advised that the Board
of directors of the Company had declared a final dividend of 4.00000 GBP pence per share for the year ended
31 August 2016. This dividend will be paid entirely as a property income distribution (“PID”) and accordingly the
dividend will be subject to the deduction of 20% United Kingdom (“UK”) withholding tax, unless exemptions apply*.

JSE shareholders are advised that the exchange rate used for the dividend will be 16.8145 ZAR to 1 GBP, resulting in
a gross dividend amount of 67.25800 ZAR cents per share.

Therefore, shareholders will be paid a dividend per share as follows:
                                             Shareholders on the Mauritius           Shareholders on the SA share
                                                 share register (GBP pence)                  register (ZAR cents)
PID element (gross)                                                4.00000                              67.25800
*Less 20% withholding tax                                          0.80000                              13.45160
PID element (net)                                                  3.20000                              53.80640
* Certain categories of shareholders may apply for exemption, in which case the PID element will be paid gross.

The salient dates for the dividend are set out below:
                                                                                                               2016
Last day to trade cum dividend                                                                  Tuesday, 8 November
Shares trade ex dividend                                                                      Wednesday, 9 November
Record date                                                                                     Friday, 11 November
Payment date                                                                                 Wednesday, 16 November

No dematerialisation or rematerialisation of share certificates, nor transfer of shares between sub-registers in Mauritius
and South Africa will take place between, and including, Tuesday, 8 November 2016 and Friday, 11 November 2016.

NOTES FOR JSE SHAREHOLDERS

On application by JSE shareholders, 5% of the 20% UK withholding tax deducted is claimable from the UK’s HM
Revenue & Customs (“HMRC”), resulting in an effective UK withholding tax rate of 15%. The Company will
account to HMRC in GBP for the total UK withholding tax deducted. Settlement of any claims for refund will be
calculated and settled in GBP by HMRC.

The information given above, as applicable, will assist with applications for refunds.

SOUTH AFRICAN (“SA”) TAXATION SUMMARY

The dividend should constitute a foreign dividend for SA tax purposes and so will be exempt from SA income tax, but
subject to deduction of SA dividends tax of 15% unless an exemption or rebate applies. For PIDs, the liability to
dividends tax will be offset by the net UK withholding tax of 15%, resulting in no dividends tax being deducted.
The above information and the guidelines on the taxation of dividends are provided as a general guide based on the
Company’s understanding of the law and practice currently in force. Any shareholder who is in any doubt as to their
tax position should seek independent professional advice.

SHAREHOLDERS RESIDING OUTSIDE OF SA

The receipt of the cash dividend may have tax implications for shareholders who are resident in Mauritius or other
countries and such shareholders are advised to obtain appropriate advice from their professional advisors in this
regard.

The number of shares in issue as at the declaration date was 152 774 750.

By order of the board


31 October 2016

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: 31/10/2016 02:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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