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DISCOVERY LIMITED - Amendment to rate applicable to Dividend Witholding Tax and impact on cash dividend declaration

Release Date: 24/02/2017 15:48
Code(s): DSY DSBP     PDF:  
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Amendment to rate applicable to Dividend Witholding Tax and impact on cash dividend declaration

DISCOVERY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1999/007789/06)
(Income Tax number: 9652/003/71/7)
ISIN: ZAE000022331 and ZAE000158564
Share Code: DSY and DSBP
Share Code: DSY
("the Company")

AMENDMENT TO RATE APPLICABLE TO DIVIDEND WITHOLDING TAX AND IMPACT ON CASH
DIVIDEND DECLARATION

Shareholders are referred to the announcements released on the Stock Exchange News Service
on 16 February 2017 and 23 February 2017 in which they were advised, inter alia, that the
board of directors had resolved to declare interim gross cash dividends of:
-   529.31507 cents (449.91781 cents net of dividend withholding tax) per B preference
    share for the period 1 July 2016 to 31 December 2016 to shareholders recorded in the
    register of the Company on 10 March 2017; and
-   88 cents (74.8 cents net of dividend withholding tax) per ordinary share to shareholders
    recorded in the register of the Company on 17 March 2017;
    collectively, "Announcements").

Shareholders are now advised that, consequent to the announcement by Minister Gordhan of
an increase in the dividend withholding tax ("DWT") rate from 15% to 20%, in his budget
speech of 22 February 2017, the DWT applicable to the gross cash dividends to be paid to
shareholders who are not exempt from DWT is 20%.

The net dividend amounts are accordingly:
-   423.45206 cents per B preference share and not 449.91781 cents as previously
    announced; and
-   70.4 cents per ordinary share and not 74.8 cents as previously announced.

The remainder of the Announcements are unaffected.

Sandton
24 February 2017

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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