Dividend conversion rates and timetable

RNS Number : 2476O

Tharisa PLC

17 May 2018

 

Tharisa plc

(Incorporated in the Republic of Cyprus with limited liability)

(Registration number HE223412)

JSE share code: THA

LSE share code: THS

ISIN: CY0103562118

('Tharisa')

Interim dividend conversion rates and timetable

In accordance with its dividend policy of distributing at least 15% of annual net profit after tax and following the introduction of an interim dividend, the board has declared its first interim cash dividend of US$ 2 cents per ordinary share.  The interim dividend will be paid on Wednesday,
20 June 2018 and will be paid from income reserves.

Shareholders on the principal Cyprus register will be paid in US$, shareholders whose shares are held through Central Securities Depositary Participants (CSDPs) and brokers and are traded on the JSE will be paid in South African Rand (ZAR) and holders of Depositary Interests traded on the LSE will be paid in Sterling (GBP). The currency equivalents of the dividend, based on the weighted average of the South African Reserve Bank's daily rate at approximately 10:30 (UTC +2) on 15 May 2018, being the currency conversion date, are as follows:

	Exchange rate	Dividend per share in payment currency
South Africa - JSE	ZAR 12.4074/US$	24.8148 South African cents per share
United Kingdom - LSE	GBP 0.7391/US$	1.4782 pence per share

The timetable for payment of the dividend is as follows:

Declaration and currency conversion date	Tuesday, 15 May 2018
Currency conversion rates announced	Thursday, 17 May 2018
Last day to trade cum-dividend rights on the JSE	Tuesday, 5 June 2018
Last day to trade cum-dividend rights on the LSE	Wednesday, 6 June 2018
Shares will trade ex-dividend rights on the JSE from	Wednesday, 6 June 2018
Shares will trade ex-dividend rights on the LSE from	Thursday, 7 June 2018
Record date for payment on both JSE and LSE	Friday, 8 June 2018
Dividend payment date	Wednesday, 20 June 2018

No dematerialisation or rematerialisation of shares within Strate will be permitted between Wednesday, 6 June 2018 and Friday, 8 June 2018, both days inclusive. No transfers between registers will be permitted between Thursday, 17 May 2018 and Friday, 8 June 2018, both days inclusive.

Tax implications of the dividend

Shareholders are advised that the dividend declared will be paid out of income reserves and may therefore be subject to dividend withholding tax depending on the tax residency of the shareholder.

South African tax residents

South African shareholders are advised that the dividend constitutes a foreign dividend. For individual South African tax resident shareholders, dividend withholding tax of 20% will be applied to the gross dividend of 24.8148 South African cents per share. Therefore, the net dividend of 19.85184 South African cents per share will be paid after 4.96296 South African cents in terms of dividend withholding tax has been applied. Shareholders who are South African tax resident companies are exempt from dividend tax and will receive the dividend of 24.8148 South African cents per share. This does not constitute legal or tax advice and is based on taxation law and practice in South Africa. Shareholders should consult their brokers, financial and/or tax advisors with regard to how they will be impacted by the payment of the dividend.

UK tax residents

UK tax residents are advised that the dividend constitutes a foreign dividend and that they should consult their brokers, financial and/or tax advisors with regard to how they will be impacted by the payment of the dividend.

Cyprus tax residents

Individual Cyprus tax residents are advised that the dividend constitutes a local dividend and that they should consult their brokers, financial and/or tax advisors with regard to how they will be impacted by the payment of the dividend.

Shareholders and Depositary Interest holders should note that information provided should not be regarded as tax advice.

Additional information required by the JSE Listing Requirements

Tharisa has a total of 261 000 000 ordinary shares in issue on Wednesday, 16 May 2018, of which 260 212 460 carry voting rights and are eligible to receive dividends.

Paphos, Cyprus

17 May 2018

JSE Sponsor

Investec Bank Limited

Investor Relations contact:

Tharisa plc

Sherilee Lakmidas

[phone]

[phone]

[e-mail]

Broker contacts:

Peel Hunt LLP (Joint Broker)

Ross Allister / James Bavister / David McKeown

[phone]

BMO Capital Markets Limited (Joint Broker)

Jeffrey Couch / Neil Haycock / Thomas Rider

[phone]

Financial PR contacts:

Bobby Morse / Anna Michniewicz

[phone]

[e-mail]

 

END

 

 

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