AIP
AIP
AIP - Adcock Ingram - Strategic Industrial Project programme
Adcock Ingram Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 2007/016236/06
Share code: AIP
ISIN: ZAE000123436
("Adcock Ingram" or "the company")
Strategic Industrial Project programme
Further to the release of the results of Adcock Ingram for the 6-month period
ended 31 March 2009, wherein Adcock Ingram advised that it received approval
from the Department of Trade and Industry for a capital expenditure project in
the Pharmaceutical division to qualify as a strategic industrial project. The
Strategic Industrial Project ("SIP") programme is an incentive programme which
was designed to encourage investments into South African industry operations
from both local and foreign investors. Its primary aim is to significantly
contribute to growth, development and competitiveness of specific industry
sectors by providing industrial investment allowances, in the form of tax
relief, to qualifying industrial projects.
The SIP programme is governed by section 12G of the Income Tax Act No 58 of
1962 (as amended). The company will qualify for a special tax allowance of
R458 million, equating to a tax saving, at current tax rates, of R128 million
over a period of four years.
Adcock Ingram has embarked on the approved capital project and will make its
first tax claim under this special dispensation for the tax year ended 30
September 2009. Adcock Ingram expects to fully utilise the special allowance
within three years, thereby resulting in an accelerated tax saving.
3 July 2009
Midrand
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 03/07/2009 08:43:03 Produced by the JSE SENS Department.
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