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REINET INVESTMENTS S.C.A - Reinet Securities SA dividend dates in respect of South African depository receipts ('REI DR')

Release Date: 23/05/2017 17:35
Code(s): REI     PDF:  
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Reinet Securities SA – dividend dates in respect of South African depository receipts ('REI DR')

Reinet Investments S.C.A.
Depositary Receipts issued by Reinet Securities SA
(Incorporated in Switzerland)
ISIN: CH0045793657
Depositary Receipt Code: REI

REINET SECURITIES SA – DIVIDEND DATES IN RESPECT OF SOUTH AFRICAN DEPOSITORY RECEIPTS ('REI DR')

The dividend payable to holders of depository receipts issued by Reinet Securities SA ('Reinet DRs') is derived from the dividend to be paid by Reinet Investments S.C.A., Luxembourg ('Reinet') in respect of the Reinet shares.

The Reinet DR dividend payable to South African Common Monetary Area residents is payable in rand and will be effected via central security depository participants in Strate for all dematerialised Reinet DR holdings and Computershare Investor Services Proprietary Limited for Reinet DR holdings on the certificated register.

Reinet has recommended a total dividend of EUR 0.165 per share from income reserves. It is anticipated that this dividend will be approved by shareholders of Reinet at the annual general meeting to be held on Tuesday, 29 August 2017 in Luxembourg.

There is no Luxembourg withholding tax payable on dividends which may be declared by Reinet.

In 2013 Reinet sought clarification from the South African Revenue Service ('SARS') as to the treatment of any dividends to be declared by Reinet and paid to holders of Reinet DRs. SARS confirmed to Reinet that any such dividends would be treated as 'foreign dividends' as defined in the Income Tax Act No. 58 of 1962. Accordingly, any such dividends would be subject to South African dividends withholding tax at 20 per cent in the hands of Reinet DR holders unless those Reinet DR holders are otherwise exempt from the tax. Non-resident holders of Reinet DRs are required to fill in the appropriate SARS declaration form, if they wish to be exempted from the tax.

As Reinet DRs trade in the ratio of 10 Reinet DRs to each Reinet ordinary share, the dividend entitlement per Reinet DR is as follows:

               Gross dividend    South African     Net dividend
               per Reinet DR     dividend Tax      per Reinet DR
               in euros          at 20%            in euros

               0.016500          (0.003300)        0.013200

The exchange rate applicable for the conversion of euro to rand for payment of the Reinet DR dividend will be confirmed in a separate announcement to be released on SENS on Tuesday, 29 August 2017.

The payment dates for the dividend in respect of the South African Reinet DRs are anticipated to be as follows:

Last date to trade "cum dividend"      Tuesday, 5 September 2017

Trading commences "ex-dividend" from
the commencement of business on        Wednesday, 6 September 2017

Reinet DR dividend record date         Friday, 8 September 2017

Reinet DR dividend payment date        Friday, 15 September 2017

Reinet DR holders may not dematerialise or rematerialise their holding of Reinet DRs between Wednesday, 6 September 2017 and Friday, 8 September 2017, both days inclusive.

Reinet DRs are issued subject to the terms of the Deposit Agreement entered into on 17 October 2008, most recently amended on 15 December 2010. By holding Reinet DRs, investors acknowledge that they are bound by the terms of the Deposit Agreement. Copies of the Deposit Agreement may be obtained by investors from Reinet Securities SA or Computershare Investor Services Proprietary Limited.

Reinet Securities SA may appoint a depository agent or other parties to assist in the administration of the Reinet DR programme and may provide to such agents such information as it deems to be appropriate, including information relating to the identity of holders of Reinet DRs.

23 May 2017

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

Date: 23/05/2017 05:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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