REMGRO LIMITED - Update on disputes with the South African Revenue Service (SARS)
REM 201306280032A
Update on disputes with the South African Revenue Service (“SARS”)
Remgro Limited
(Incorporated in the Republic of South Africa)
(Registration number 1968/006415/06)
ISIN: ZAE000026480
Share code: REM
(“Remgro” or “the Company”)
UPDATE ON DISPUTES WITH THE SOUTH AFRICAN REVENUE SERVICE (“SARS”)
Shareholders are referred to Remgro’s profit announcement for the six months ended
31 December 2012 wherein they were updated on the status of three material unresolved tax
disputes with SARS. Two of these disputes (amounting to R1 158 million) involved potential
secondary tax on companies arising from the buy-back and cancellation of treasury shares, while
the third dispute (amounting to R755 million) related to the disposal of investments. Both of these
amounts included interest up to 31 December 2012.
The Board wishes to inform Remgro shareholders that all three disputes have now been resolved in
the Company’s favour. The assessments giving rise to these disputes will accordingly be reversed.
Remgro’s results for the year ending 30 June 2013 is due to be released on SENS on or about
18 September 2013. It should be noted that the resolution of the tax disputes referred to above will
have no effect on Remgro’s reported headline earnings.
Stellenbosch
28 June 2013
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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