NEW FRONTIER PROPERTIES LIMITED - Finalisation announcement in respect of the interim dividend for the six months ended 28 February 2017

Finalisation announcement in respect of the interim dividend for the six months ended 28 February 2017

New Frontier Properties Ltd
(Incorporated in the Republic of Mauritius on 5 June 2014)
(Registration number 123368C1/GBL)
SEM share code: NFP.N000
JSE share code: NFP
ISIN: MU0453N00004
(“New Frontier” or “the Company”)


FINALISATION ANNOUNCEMENT IN RESPECT OF THE INTERIM DIVIDEND FOR THE SIX MONTHS ENDED 28 FEBRUARY 2017


Shareholders are referred to the Company’s results for the six months ended 28 February 2017, released on
13 April 2017, wherein they were advised that the board of directors of the Company had proposed an interim
dividend of 3.60000 GBP pence per share in respect of the six months ended 28 February 2017. This dividend will be
paid entirely as a property income distribution (“PID”) and accordingly the dividend will be subject to the deduction
of 20% United Kingdom (“UK”) withholding tax, unless exemptions apply*.

Shareholders on the South African (“SA”) share register are advised that the South African Rand exchange rate for the
dividend will be 17.1633 ZAR to 1 GBP, resulting in a gross local dividend amount of 61.78788 ZAR cents per share.

Accordingly shareholders will be paid a dividend per share as follows;

                                                     Shareholders on the                      Shareholders on the
                                                Mauritian share register             South African share register
 PID element (gross)                                   3.60000 GBP pence                       61.78788 ZAR cents
 *Less 20% withholding tax                             0.72000 GBP pence                       12.35758 ZAR cents
 PID element (net)                                     2.88000 GBP pence                       49.43030 ZAR cents
*Certain categories of shareholders may apply for exemption, in which case the PID element will be paid gross.

The salient dates for the dividend are set out below:

                                                                                                            2017
 Last day to trade cum dividend                                                                   Tuesday, 9 May
 Securities trade ex dividend                                                                  Wednesday, 10 May
 Record date                                                                                      Friday, 12 May
 Payment date on or after                                                                         Monday, 15 May

No dematerialisation or rematerialisation of share certificates may take place between Wednesday, 10 May 2017 and
Friday, 12 May 2017, both dates inclusive. No transfer of shares between sub-registers in Mauritius and South Africa
may take place between Tuesday, 2 May 2017 and Friday, 12 May 2017, both dates inclusive. In respect of
dematerialised shares, the dividend will be transferred to the CSDP/broker accounts on Monday, 15 May 2017.
Certificated shareholder’s divided payment will be deposited on or about Monday, 15 May 2017.

NOTES FOR SHAREHOLDERS ON THE SA SHARE REGISTER

South African shareholders are advised that the dividend will be regarded as a foreign dividend and may be subject to
South African dividends withholding tax. On 22 February 2017, the South African dividend withholding tax rate was
increased from 15% to 20% and accordingly South African shareholders may be subject to a dividend withholding tax
rate of 20%, unless an exemption, as set out in the South African tax legislation, applies.

On application by SA shareholders, 5% of the 20% UK withholding tax deducted is claimable from the UK’s HM
Revenue & Customs (“HMRC”), resulting in an effective UK withholding tax rate of 15%. The Company will
account to HMRC in GBP for the total UK withholding tax deducted. Settlement of any claims for refund will be
calculated and settled in GBP by HMRC.

SHAREHOLDERS RESIDING OUTSIDE OF SA

The receipt of the cash dividend may have tax implications for shareholders who are resident in Mauritius or other
countries and such shareholders are advised to obtain appropriate advice from their professional advisors in this
regard.

The above information and the guidelines on the taxation of dividends are provided as a general guide based on the
Company’s understanding of the law and practice currently in force. Any shareholder who is in any doubt as to their
tax position should seek independent professional advice.

New Frontier has a dual primary listing on the Stock Exchange of Mauritius Ltd (“SEM”) and the Alternative
Exchange of the JSE.

By order of the board


2 May 2017

This notice is issued pursuant to SEM Listing Rule 11.3 and Rule 5(1) of the Securities (Disclosure Obligations of
Reporting Issuers) Rules 2007. The board of directors of New Frontier Properties Ltd accepts full responsibility for
the accuracy of the information in this notice

For further information please contact:

JSE sponsor
Java Capital                                       +27 11 722 3050

Company secretary
Osiris Corporate Solutions (Mauritius) Ltd         +230 650 4030

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