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EPP N.V. - Finalisation announcement in respect of the cash dividend for the six months ended 31 December 2018

Release Date: 26/03/2019 11:20
Code(s): EPP     PDF:  
Wrap Text
Finalisation announcement in respect of the cash dividend for the six months ended 31 December 2018

EPP N.V.
(previously Echo Polska Properties N.V.)
(Incorporated in The Netherlands)
(Company number 64965945)
JSE share code: EPP
ISIN: NL0011983374
LEI Code: 7245003P7O9N5BN8C098
("EPP" or "the company")


FINALISATION ANNOUNCEMENT IN RESPECT OF THE CASH DIVIDEND FOR THE SIX MONTHS ENDED 31 DECEMBER 2018


Shareholders are referred to the dividend declaration announcement released on SENS and published on the
LuxSE website on 7 March 2019 (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:ZAR16.26608. Accordingly, the cash dividend of 5.78000 euro cents per share will be equal to a gross
local dividend amount for shareholders on the South African register of ZAR94.01794 cents per share. The
currency exchange is based on an average rate achieved by means of a series of hedges, with a settlement date of
5 April 2019. The exchange rate was derived from the intraday spot as reflected by Reuters D3 for each
particular hedge.

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 ZAR79.91525 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).

EPP will initially withhold 15% on ALL dividends distributed on Monday, 8 April 2019.

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
ZAR75.21435 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.

26 March 2019


JSE Sponsor
Java Capital

Luxembourg Stock Exchange Listing Agent
M Partners

For more information:

Curwin Rittles, Investor Relations, EPP
Mobile: +48 885 982 310
Curwin.rittles@epp-poland.com

Java Capital, JSE Sponsor
Phone: +27 11 722 3050

M Partners, Luxembourg Stock Exchange Listing Agent
Phone: +352 263 868 602

Singular Systems IR
Michèle Mackey / Jacques de Bie
+27 (0)10 003 0700/+27 (0)82 497 9827
michele@singular.co.za / Jdebie@singular.co.za

Date: 26/03/2019 11:20:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

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