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Finalisation announcement in respect of the dividend for the six months to 30 June 2017
ECHO POLSKA PROPERTIES N.V.
(Incorporated in The Netherlands)
(Company number 64965945)
JSE share code: EPP
ISIN: NL0011983374
(“EPP”)
FINALISATION ANNOUNCEMENT IN RESPECT OF THE DIVIDEND FOR THE SIX MONTHS TO 30 JUNE 2017
EPP shareholders are referred to the dividend declaration contained in the condensed consolidated financial
information for the six month period ended 30 June 2017 announcement published on Tuesday, 5 September 2017
and are advised that shareholders on the South African share register will receive their cash dividend in ZAR,
converted from Euro at an exchange rate of EUR1: ZAR15.39655. Accordingly, the cash dividend of 5.192 Euro
cents per share will be equal to a gross local dividend amount for shareholders on the South African register of
ZAR79.93889 cents per share.
DUTCH DIVIDEND WITHHOLDING TAX
Dutch dividend withholding tax (“DWHT”) at a rate of 15% will be withheld by EPP on the dividend distribution
and EPP will remit the DWHT due to the Dutch Tax Authorities, leaving a distribution amount per share of
ZAR67.94806 net of DWHT.
The DWHT may be reduced in terms of the Double Tax Agreement between South Africa and the Netherlands
(“DTA”) if a shareholder qualifies for an exemption from or a deduction of DWHT on the basis of Dutch domestic
law and/or the DTA and the formal requirements that apply to such exemption from or reduction of DWHT are
satisfied.
The reduced DWHT under the DTA applies if the formal requirements have been satisfied and South African
shareholders are therefore entitled to claim the excess amount due to them by following the formal requirements
as set out on EPP’s website at www.echo-pp.com.
SOUTH AFRICAN DIVIDENDS WITHHOLDING TAX
Dividends received from a foreign resident company in respect of a share that is listed on the JSE are regarded
as foreign dividends for South African income tax and dividends withholding tax purposes. The foreign dividends
are exempt from South African income tax in respect of foreign shareholders and South African shareholders.
The dividends will however be subject to South African dividends withholding tax (“SADWT”) at a rate of 20%,
unless a shareholder qualifies for an exemption from SADWT. For example, a South African company
shareholder or retirement fund will be exempt from SADWT.
However, a shareholder who receives a dividend which is subject to SADWT and who does not qualify for an
exemption, will qualify for a rebate of the foreign taxes paid in respect of such dividend. Accordingly, if 15%
DWHT is suffered in the Netherlands, dividends received in respect of a share that is listed on the JSE will be
subject to an additional 5% SADWT, resulting in shareholders on the South African register who are not exempt
from SADWT receiving a net local dividend amount of ZAR63.95111 cents per share. The regulated intermediary
will be responsible for withholding the 5% from the dividend payable to shareholders on the South African
register and paying such amounts to the South African Revenue Service, such that the total dividend withholding
tax paid by such shareholders amounts in aggregate to 20%.
The information provided above does not constitute tax advice and is only provided as a general guide on the
South African tax treatment of the cash dividend declaration by EPP to South African tax resident shareholders.
For shareholders residing outside of South Africa, the dividend may have other legal or tax implications and such
shareholders are advised to obtain appropriate advice from their professional advisers in this regard.
12 September 2017
Sponsor
Java Capital
LuxSE Listing Agent
M Partners
More information:
Magda Cieliczko, Marketing Director Echo Polska Properties
Mobile: +48 603 203 619
magda.cieliczko@echo-pp.com
Java Capital, JSE Sponsor
Phone: +27 11 722 3050
M Partners, LuxSE Listing Agent
Phone: +352 263 868 602
Jacques de Bie, South Africa, Investor Relations, Singular Systems IR
Mobile: +27 (0)82 691 5384
Date: 12/09/2017 11:55:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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