4 Apr 2019 11:37
4 April 2019
ThinkSmart Limited
("ThinkSmart" or the "Company")
Return of Capital and Dividend - Australian Tax Office Class Rulings Published
ThinkSmart Limited ("ThinkSmart" or "the Company") confirms that it has now received two final and binding class rulings ("Class Ruling(s)") from the Australian Taxation Office ("ATO") regarding certain aspects of the Australian income tax treatment of the Company's distribution of $7,999,751.44 to shareholders which occurred on 29 March 2019 (the "Distribution"). As previously announced on 6 March 2019, the Distribution consists of a dividend of 3.772 cents per share or depository interest (0.440 cents of which was fully franked and 3.332 cents of which was declared as attaching conduit foreign income) and a return of share capital of 3.772 cents per share (or depository interest).
The ATO has provided one Class Ruling for shareholders who directly hold their shares in ThinkSmart ("Ordinary Shareholders"), and a separate Class Ruling for ThinkSmart's depositary interest holders. In summary, the Class Rulings confirm that for both Ordinary Shareholders and depository interest holders, no part of the return of share capital component of the Distribution is a dividend.
The Class Rulings have now been published and can be viewed on the Company's website (http://www.thinksmartworld.com/investor-centre/aim-rule-26/annual-reports-and-presentations/).
The above comments are not tax advice. If Ordinary Shareholders or depository interest holders have any queries regarding the tax treatment of the Distribution, ThinkSmart strongly advises they obtain specific tax advice on the tax treatment of the Distribution, taking into account their own specific circumstances.
For further information contact:
ThinkSmart Limited Via Instinctif Partners
Ned Montarello
finnCap Ltd (Nominated Adviser and Joint Broker) +44 (0)20 7220 0500
Jonny Franklin-Adams, Emily Watts, Anthony Adams (Corporate Finance)
Tim Redfern, Richard Chambers (Corporate Broking)
Canaccord Genuity (Joint Broker) +44 (0)20 7523 8350
Sunil Duggal
David Tyrrell
Instinctif Partners +44 (0)20 7457 2020
Catherine Wickman
Kaj Sahota