Last checked at 28 Feb 2017 07:00
LONDON FINANCE & INVESTMENT GROUP PLC - Increase in South African Dividend Withholding TaxLONDON FINANCE & INVESTMENT GROUP PLC - Increase in South African Dividend Withholding Tax
PR Newswire
London, February 27
London Finance and Investment Group P.L.C.
(Incorporated in England with registered number 201151)
LSE code: LFI
JSE code: LNF
ISIN: GB0002994001
(“the Company”)
South African Register: Increase in Dividend Withholding Tax by the South African Minister of Finance
The Finance Minister Pravin Gordhan announced on 22 February 2017 during the delivery of the 2017 Budget an increase in the Dividend Withholding Tax from 15% to 20%. The JSE has consulted with the South African Revenue Service and National Treasury and we have been advised that the effective date of the new rate is in respect of all dividends paid on or after 22 February 2017.
Further to the above, and with reference to the Company’s unaudited interim results for the six months ended 31 December 2016 and dividend declaration, published on SENS on 22 February 2017, shareholders on the South African register are advised to refer to the updated dividend tax information paragraph set out below:
South Africa Register: Dividend tax Information
South African Dividend Withholding Tax, at a rate of 20%, will be withheld from the gross interim dividend of 9.09791 ZAR cents to be paid to shareholders on the South African register, unless a shareholder qualifies for an exemption. After Dividend Withholding Tax has been withheld, the net dividend will be 7.27833 ZAR cents per ordinary share.
The interim dividend is regarded as a ‘foreign dividend’ for the purposes of the South African Dividend Withholding Tax.
The Company’s UK Income Tax reference number is 948/L32120.
For the avoidance of doubt, Dividend Withholding Tax and the information provided above applies only to shareholders on the South African register. Shareholders on the South African register should direct any questions regarding the application of Dividend Withholding Tax to Computershare Investor Services Proprietary Limited, contact details for which are given below:
Computershare Investor Services Proprietary Limited
PO Box 61051, Marshalltown 2107, South Africa
Tel: 0861 100 634; +27 11 870 8216
Email enquiries: web.queries@computershare.co.za
The salient dates and other information provided in respect of the dividend recommendation announced on 22 February 2017 remain unchanged.
United Kingdom
28 February 2017
Sponsor: Sasfin Capital (a division of Sasfin Bank Limited)