THE FOSCHINI GROUP LIMITED - Increase in Dividend Withholding Tax as announced by the South African Minister of Finance

Increase in Dividend Withholding Tax as announced by the South African Minister of Finance

The Foschini Group Limited
Registration number: 1937/009504/06
Share codes: TFGP
ISIN codes: ZAE000148516
("TFG")

Increase in Dividend Withholding Tax as announced by the South African
Minister of Finance

TFG preference shareholders are referred to the announcement by the South
African Minister of Finance on 22 February 2017 that the dividend
withholding tax rate has been increased from 15% to 20%. The JSE has
confirmed that the increase is effective for dividends declared with a
payment date on or after 22 February 2017.

Further to the above, shareholders are referred to the unaudited interim
condensed consolidated results for the half-year ended 30 September 2016
announced on SENS on 10 November 2016 wherein shareholders were advised of
the declaration of the preference dividend no.160.

In this regard, shareholders are referred      to   the   updated   preference
dividend tax information as set out below:

Dividend no. 160 of 3,25% (6,5 cents per share) (gross) in respect of the
six months ending 31 March 2017 has been declared from income reserves,
payable on Monday, 20 March 2017 to holders of 6,5% preference shares
recorded in the books of the company at the close of business on
Friday, 17 March 2017. The last day to trade (“cum” the dividend) in order
to participate in the dividend will be Tuesday, 14 March 2017. The Foschini
Group Limited preference shares will commence trading “ex” the dividend
from the commencement of business on Wednesday, 15 March 2017 and the
record date, as indicated, will be Friday, 17 March 2017.

Preference shareholders should take note that share certificates may not be
dematerialised or rematerialised during the period Wednesday, 15 March 2017
to Friday, 17 March 2017, both dates inclusive.

In terms of section 11.17 of the JSE Listings Requirements, the following
additional information is disclosed:
   1) Local dividend tax rate is 20%;
   2) The withholding tax, if applicable at the rate of 20%,will result in
      a net cash dividend per share of 5,20000 cents;
   3) The issued preference share capital of The Foschini Group Limited is
      200 000 shares at 10 November 2016; and
   4) The Foschini Group Limited’s tax reference number is 9925/133/71/3P.


02 March 2017

Sponsor:
UBS South Africa Proprietary Limited

Date: 02/03/2017 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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