ABL/ABLP - African Bank Investments Limited - Clarification statement regarding
ABL ABLP
ABL
ABL/ABLP - African Bank Investments Limited - Clarification statement regarding
the impact of withholding tax
AFRICAN BANK INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registered bank controlling company)
(Registration number 1946/021193/06)
Ordinary share code: ABL ISIN: ZAE000030060
Preference share code: ABLP ISIN: ZAE000065215
("ABIL")
CLARIFICATION STATEMENT REGARDING THE IMPACT OF WITHHOLDING TAX
We refer to the recent budget speech by the Minister of Finance, Mr Pravin
Gordhan, and the announcement of the implementation in April 2012 of the
withholding tax on dividends. ABIL wishes to confirm that its articles of
association were amended in March 2010 to ensure that dividends payable to
preference shareholders will be increased ("grossed-up") after the dividend tax
law change becomes effective. This increase will be equal to the entire
secondary taxation on companies ("STC") saving that the company receives per
preference share as a result of the dividend tax law change becoming effective.
Midrand
14 March 2011
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 14/03/2011 11:39:01 Produced by the JSE SENS Department.
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