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CORONATION FUND MANAGERS LIMITED - Constitutional Court judgment and withdrawal of cautionary announcement

Release Date: 21/06/2024 10:55
Code(s): CML     PDF:  
Wrap Text
Constitutional Court judgment and withdrawal of cautionary announcement

(Incorporated in the Republic of South Africa)
(Registration number: 1973/009318/06)
Share code: CML
ISIN: ZAE000047353
LEI: 3789001BC9A294E6FF77
("Coronation" or "the Company")


Shareholders are referred to the various announcements released on the Stock Exchange
News Service ("SENS") regarding the tax litigation relating to the Coronation Group's
international operations (the "Tax Matter") and, more particularly, to the cautionary
announcement released on SENS yesterday, 20 June 2024, confirming that the Constitutional
Court would deliver its judgement in the Tax Matter on 21 June 2024 ("Cautionary

Shareholders are hereby advised that the Constitutional Court has delivered its judgment on
the Tax Matter, ruling in favour of Coronation Investment Management SA (Pty) Ltd ("CIMSA")
and setting aside the orders of the Supreme Court of Appeal.

Coronation welcomes the judgement of the Constitutional Court, which confirms that CIMSA's
interpretation and application of the relevant tax legislation has been correct and appropriate.

The full impact of the Tax Matter as at 31 March 2024 amounted to R794m and had been
provided for in Coronation's financial accounts.

Given that the judgement has been delivered, the Cautionary Announcement is withdrawn
and shareholders are advised that caution is no longer required to be exercised when dealing
in the Company's securities.

Cape Town
21 June 2024

Valeo Capital (Pty) Ltd

Date: 21-06-2024 10:55:00
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