SPUR CORPORATION LIMITED - Cash dividend declaration Increase in dividend withholding tax

Cash dividend declaration Increase in dividend withholding tax

SPUR CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/000828/06)
Share Code: SUR & ISIN: ZAE000022653
("Spur" or "the company")

CASH   DIVIDEND   DECLARATION   –   INCREASE     IN   DIVIDEND
WITHHOLDING TAX TO 20%

With reference to the announcement of the company’s
unaudited condensed consolidated financial statements and
cash dividend declaration for the six months ended 31
December 2016 published on SENS on 23 February 2017,
shareholders are advised that the South African Finance
Minister, Pravin Gordhan, announced an increase in the
dividend withholding tax rate from 15% to 20% on 22
February 2017 during the delivery of the 2017 Budget. The
South African Revenue Service and National Treasury have
advised that the effective date of the new rate is in
respect of all dividends paid on or after 22 February 2017.

Shareholders are therefore advised that the interim gross
cash dividend payable on 3 April 2017, which was declared
by the board of directors of the company on 22 February
2017 and announced on 23 February 2017, of R77.021 million,
equating to 71.0 cents per share for each of the 108 480
926 shares in issue,       will be    subject to    dividend
withholding tax at a rate of 20%, and not 15% as indicated
in the above-mentioned announcement, where applicable.

The net dividend, after taking into account dividend
withholding tax at a rate of 20%, is 56.8 cents per share
for shareholders liable to pay dividend withholding tax.

Cape Town
24 February 2017

Sponsor
SASFIN CAPITAL
A division of Sasfin Bank Limited

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