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Update Regarding The Interim Dividend
BALWIN PROPERTIES LIMITED
Incorporated in the Republic of South Africa
Registration number 2003/028851/06
Share code: BWN
ISIN: ZAE000209532
("Balwin" or "the Company")
UPDATE REGARDING THE INTERIM DIVIDEND
Shareholders are referred to Balwin interim results for the six months ended 31 August 2017,
announced on Monday, 20 November 2017 (“Results Announcement”). In the Results
Announcement, Balwin advised its shareholders that the board of directors of Balwin (the “Board”) was
considering a dividend re-investment alternative in which a shareholder would be entitled to elect to re-
invest the cash dividend of 10 cents per share pre withholdings tax (“Cash Dividend”), and the 2 cents
per share post withholdings tax (“Net Cash Dividend”), in return for shares in the Company ("Re-
Investment Alternative"), failing which they would receive the Net Cash Dividend in respect of all or
part of their shareholding.
Following careful consideration of current market conditions and pricing of Balwin shares, the Board
has decided not to offer the Re-Investment Alternative. Accordingly, shareholders are advised that they
will receive their dividend in cash.
The salient dates in respect of the Cash Dividend remain unchanged from those set out in the Results
Announcement.
Johannesburg
28 November 2017
Investment Bank and Sponsor
Investec Bank Limited
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