Interim dividend conversion rates and timetable

RNS Number : 0061Z

Tharisa PLC

16 May 2019

 

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 or the Company)

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 an interim cash dividend of US$ 0.5 cent per ordinary share.  The interim dividend will be paid on Wednesday, 19 June 2019 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 14 May 2019, being the currency conversion date, are as follows:

	Exchange rate	Dividend per share in payment currency
South Africa - JSE	ZAR 14.2540/US$	7.1270 South African cents per share
United Kingdom - LSE	GBP 0.7728/US$	0.3864 pence per share

The timetable for the dividend declaration is as follows:

Declaration and currency conversion date                                                                           Tuesday, 14 May 2019

Currency conversion rates announced                                                                                Thursday, 16 May 2019

Last day to trade cum-dividend rights on the JSE                                                                 Tuesday, 4 June 2019

Last day to trade cum-dividend rights on the LSE                                                           Wednesday, 5 June 2019

Shares will trade ex-dividend rights on the JSE                                                               Wednesday, 5 June 2019

Shares will trade ex-dividend rights on the LSE                                                                   Thursday, 6 June 2019

Record date for payment on both JSE and LSE                                                                          Friday, 7 June 2019

Dividend payment date                                                                                                      Wednesday, 19 June 2019

No dematerialisation or rematerialisation of shares within Strate will be permitted between Wednesday, 5 June 2019 and Friday, 7 June 2019, both days inclusive. No transfers between registers will be permitted between Thursday, 16 May 2019 and Friday, 7 June 2019, both days inclusive.

Tax implications of the dividend

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

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 7.1270 South African cents per share. Therefore, the net dividend of 5.7016 South African cents per share will be paid after 1.4254 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 7.1270 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 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.

Additional information required by the JSE Listing Requirements

Tharisa has a total of 265 000 000 ordinary shares in issue on Wednesday, 15 May 2019, of which 263 836 192 carry voting rights and are eligible to receive dividends.

Paphos, Cyprus

16 May 2019

JSE Sponsor

Investec Bank Limited

Investor relations contact:

Tharisa plc

Daniel Thöle / Ilja Graulich

[phone] / [phone]

Financial PR contacts:

Bobby Morse / Augustine Chipungu

[phone]

[e-mail] 

Broker contacts:

Peel Hunt LLP (UK Joint Broker)

Ross Allister / James Bavister / David McKeown

[phone]

BMO Capital Markets Limited (UK Joint Broker)

Jeffrey Couch / Thomas Rider

[phone]

Berenberg (UK Joint Broker)

Matthew Armitt / Detlir Elezi

[phone]

Nedbank Limited (acting through its Corporate and Investment Banking division) (RSA Broker)

Shabbir Norath / Mlaoli Tonise

[phone] / [phone]

 

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