2023 Interim Dividend - Exchange Rate

Shaftesbury Capital PLC

15 August 2023

 

SHAFTESBURY CAPITAL PLC (the "Company" or "Shaftesbury Capital")

2023 INTERIM CASH DIVIDEND - EXCHANGE RATE

This announcement sets out additional information relating to the 2023 interim cash dividend of 1.5 pence per ordinary share (to be paid wholly as an ordinary dividend), which is to be paid on Monday 18 September 2023 to all shareholders registered on Friday 25 August 2023.

Exchange Rate for 2023 Interim Cash Dividend:

The Company confirms that the ZAR exchange rate for the 2023 interim cash dividend will be 24.07150 ZAR to 1 GBP, which is the rate determined on 14 August 2023.

On this basis, shareholders who hold their shares via the South African register will receive a cash dividend of 36.10725 ZAR cents per ordinary share. 

SA DIVIDENDS TAX

The 2023 interim cash dividend will be treated as an ordinary UK company dividend. SA Dividends Tax will also apply, where applicable. Details of the withholding tax (per ordinary share) are set out below:

	UK (p)	SA (ZAR cents)
Total (gross)	1.5	36.10725
Less SA dividends tax (20%)	-	7.22145
Net ordinary dividend (Non-PID) payable	1.5	28.88580

Information for shareholders:

The information below is included only as a general guide to taxation for shareholders based on the Company's understanding of the law and the practice currently in force. Any shareholder who is in any doubt as to their tax position should seek independent professional advice.

UK shareholders

There is no PID element of the interim cash dividend. The entire interim cash dividend will be paid as an ordinary dividend (Non-PID) and therefore treated as an ordinary UK company dividend.

South African shareholders

The 2023 interim cash dividend declared by the Company is a foreign payment and the funds are sourced from the UK.

PIDs: There is no PID element of the 2023 interim cash dividend.

Non PID: The entire 2023 interim cash dividend will be paid as an ordinary UK dividend (Non-PID), and as such the 2023 interim cash dividend will be exempt from income tax but will constitute a dividend for SA Dividends Tax purposes, as it will be declared in respect of a share listed on the exchange operated by the JSE. SA Dividends Tax will therefore be withheld from the 2023 interim cash dividend at a rate of 20 per cent, unless a shareholder qualifies for an exemption and the prescribed requirements for effecting the exemption are in place by the requisite date.

The salient dates in the dividend timetable published in the announcement published on 3 August 2023 remain unchanged.

Enquiries

Ruth Pavey

Company Secretary

Shaftesbury Capital PLC

+ 44 (0) 20 3214 9170

15 August 2023

 

END