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SCHRODER EUROPEAN REAL ESTATE INV TRUST PLC - Change In South African Dividend Witholding Tax Rate

Release Date: 28/02/2017 16:00
Code(s): SCD     PDF:  
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Change In South African Dividend Witholding Tax Rate

Schroder European Real Estate Investment Trust PLC
(Incorporated in England and Wales)
Registration number: 09382477
JSE Share Code: SCD
LSE Ticker: SERE
ISIN number: GB00BY7R8K77

                                                                                     28 February 2017

                     CHANGE IN SOUTH AFRICAN DIVIDEND WITHHOLDING TAX RATE

The Board of Schroder European Real Estate Investment Company plc (the “Company”) notes the
announcement by the South African Minister of Finance on 22 February 2017, advising that the South
African dividend withholding tax rate has been increased from 15 per cent to 20 per cent, effective for
South African dividends declared with a payment date on or after 22 February 2017.

On 9 February 2017, the Company announced its first interim dividend for the period to 30 September
2017 of 1.0 euro cents per share. While the dividend declaration timetable will remain unchanged,
South African shareholders are hereby advised that the net dividend amount announced on 21
February 2017 has now been adjusted to take account of the increased withholding tax rate, as set
out below.


   Declared dividend            Exchange rate       Dividend in South African cents per share


   1.0 euro cents per share         13.85250                           13.85250


Dividend tax will be withheld from the amount of the gross dividend of 13.85250 South African cents
per share paid to shareholders on the South African register at the rate of 20 per cent unless a
shareholder qualifies for exemption.

After the dividend tax has been withheld, the net dividend will be 11.08200 South African cents per
share.

For the avoidance of doubt, dividend tax, and therefore the information provided in this
announcement, is only of direct application to shareholders on the South African register.


Enquiries:

Duncan Owen/Tony Smedley
Schroder Real Estate Investment Management Limited                Tel: 020 7658 6000

Ria Vavakis
Schroder Investment Management Limited                           Tel: 020 7658 2371

Dido Laurimore
FTI Consulting                                                   Tel: 020 3727 1000
Shareholders on the South African branch register should direct any questions regarding the
application of the dividend tax to the Company's Transfer Secretary:

Computershare Investor Services (Pty) Limited
Rosebank Towers, 15 Biermann Avenue
Rosebank, 2196, South Africa
Postal Address - PO Box 61051
Marshalltown 2107
Telephone +27 11 373 0033
Facsimile +27 11 688 5218
Email enquiries: web.queries@computershare.co.za

JSE Sponsor: PSG Capital Proprietary Limited

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