EMIRA PROPERTY FUND LIMITED - Change to dividend withholding tax rate and net local dividend

Change to dividend withholding tax rate and net local dividend

EMIRA PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2014/130842/06)
JSE share code: EMI ISIN: ZAE000203063
(Approved as a REIT by the Johannesburg Stock Exchange)
(“Emira” or “the Company”)

CHANGE TO DIVIDEND WITHHOLDING TAX RATE AND NET LOCAL DIVIDEND

Shareholders are referred to Emira’s condensed unaudited consolidated interim financial statements
for the six months ended 31 December 2016 and the dividend tax treatment and salient dates
announcements published on SENS on 15 February 2017, wherein shareholders were advised of the
dividend of 68,93 cents per share for the six months ended 31 December 2016.

Following the Budget Speech delivered by the Minister of Finance, Pravin Gordhan, on 22 February
2017 wherein the dividends withholding tax rate was increased from 15% to 20%, the draft Rates
and Monetary Amounts and Amendment of Revenue Laws Bill has amended section 64E of the
Income Tax Act No. 58 of 1962 and the increased dividends withholding tax of 20% applies in respect
of any dividend paid on or after 22 February 2017.

Non-resident shareholders are accordingly advised that the net dividend amount due to non-
resident shareholders, 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
shareholder, is 55,1440 cents per share and not 58,5905 cents per share as previously disclosed. The
tax position in respect of the dividend received by or accrued to South African tax residents remains
unchanged.

The salient dates and times and other information provided in respect of the dividend declaration
announced on 15 February 2017 remain unchanged.



Bryanston
28 February 2017

Sponsor
RAND MERCHANT BANK (A division of First Rand Bank Limited)

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