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ADRENNA PROPERTY GROUP LIMITED - Update Announcement - Withholding of Dividend Withholding Tax from the Scheme Consideration

Release Date: 15/11/2019 11:20
Code(s): ANA     PDF:  
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Update Announcement - Withholding of Dividend Withholding Tax from the Scheme Consideration

ADRENNA PROPERTY GROUP LIMITED
Incorporated in the Republic of South Africa
(Registration Number 1998/012245/06)
Share Code: ANA ISIN: ZAE000163580
(“Adrenna” or “the Company”)


UPDATE ANNOUNCEMENT RELATING TO THE WITHHOLDING OF DIVIDEND WITHHOLDING TAX FROM THE
SCHEME CONSIDERATION


Shareholders are referred to the announcement released on SENS on 12 November 2019 relating to
the withholding of dividend withholding tax from the Scheme Consideration and are advised that the
Scheme Consideration of R1.30 per share will comprise 1 cent, being a refund of contributed tax
capital, and 129 cents, which is deemed to be a dividend distribution payment in terms of the Income
Tax Act, 58 of 1962 (“Income Tax Act”).

The dividend distribution payment element of the Scheme Consideration will be subject to a dividend
withholding tax ("DWT") at a rate of 20%, unless Shareholders are exempt from DWT in terms of section
64F of the Income Tax Act, which will result in a net dividend distribution per Share repurchased of
R1.03200.

Johannesburg
15 November 2019

Sponsor
Arbor Capital Sponsors Proprietary Limited

Date: 15/11/2019 11:20:00
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