Interim dividend conversion rates and timetable
(Incorporated in the Republic of Cyprus with limited liability)
(Registration number HE223412)
JSE share code: THA
LSE share code: THS
(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:
Dividend per share in payment currency
South Africa - JSE
7.1270 South African cents per share
United Kingdom - LSE
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.
16 May 2019
Investec Bank Limited
Investor relations contact:
Daniel Thöle / Ilja Graulich
+27 61 400 2939 / +27 83 604 0820
Financial PR contacts:
Bobby Morse / Augustine Chipungu
+44 020 7466 5000
Peel Hunt LLP (UK Joint Broker)
Ross Allister / James Bavister / David McKeown
+44 207 7418 8900
BMO Capital Markets Limited (UK Joint Broker)
Jeffrey Couch / Thomas Rider
+44 020 7236 1010
Berenberg (UK Joint Broker)
Matthew Armitt / Detlir Elezi
+44 20 3207 7800
Nedbank Limited (acting through its Corporate and Investment Banking division) (RSA Broker)
Shabbir Norath / Mlaoli Tonise
+27 11 294 3537 / +27 11 294 5382
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
Quick facts: Tharisa PLC
Market Cap: £299.65 m
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