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ECHO POLSKA PROPERTIES N.V. - Finalisation announcement in respect of the cash dividend for the six months ended 31 December 2017

Release Date: 03/04/2018 11:17
Code(s): EPP     PDF:  
Wrap Text
Finalisation announcement in respect of the cash dividend for the six months ended 31 December 2017

ECHO POLSKA PROPERTIES N.V.
(Incorporated in The Netherlands)
(Company number 64965945)
JSE share code: EPP
ISIN: NL0011983374
LEI Code: 7245003P7O9N5BN8C098
(“EPP”)


FINALISATION ANNOUNCEMENT IN RESPECT OF THE CASH DIVIDEND FOR THE SIX MONTHS ENDED 31 DECEMBER 2017


Shareholders are referred to the dividend declaration announcement released on SENS and published on the LuxSE
website on 12 March 2018 (the “declaration announcement”) 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 EUR1.00 :
ZAR14.66298. Accordingly, the cash dividend of 5.678 euro cents per share will be equal to a gross local dividend
amount for shareholders on the South African register of ZAR83.25640 cents per share.

Shareholders are referred to the Dutch and South African tax implications in respect of receipt of the cash dividend by
EPP shareholders set out in the declaration announcement and are requested to submit the required documentation to EPP
and/or their CSDP within the prescribed time periods in order to take advantage of any reduction, rebate or exemption
from dividends withholding tax for which they qualify.

As a general rule, 15% Dutch dividend withholding tax (“DWHT”) will be withheld by EPP on the cash dividend,
leaving a distribution amount per share net of Dutch DWHT of ZAR70.76794 cents per share. This could be different if:

-     a shareholder qualifies for an exemption from or a reduction of Dutch DWHT on the basis of Dutch domestic law
      and/or a tax treaty concluded by the Netherlands; and
-     the formal requirements to apply such exemption from or reduction of Dutch DWHT are satisfied (insofar
      applicable).

Cash dividends received from a foreign (non-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.

As a general rule, 20% South African dividends withholding tax (“SADWT”) will be withheld by the regulated
intermediary in South Africa (CSDP) on the cash dividend, leaving a distribution amount per share net of SADWT. This
could be different if:

-     a shareholder qualifies for an exemption from SADWT on the basis of South African domestic law; and
-     the formal requirements to apply such exemption from SADWT are satisfied (insofar applicable).

Where a CSDP is satisfied that a particular shareholder has correctly suffered 15% DWHT which is not recoverable by
that shareholder from the Dutch tax authority, such CSDP should withhold 5% SADWT (being the 20% SADWT less
15% DWHT) (leaving a distribution amount per share net of DWHT and SADWT of ZAR66.60512 cents per share),
unless a specific South African domestic exemption applies and the required documentation has been provided to the
CSDP.

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.

3 April 2018


JSE 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: 03/04/2018 11:17:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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