| Fri 24 Feb 2017, 15:28 | | ARGENT INDUSTRIAL LIMITED - Change in the Dividend Withholding Tax Rate |
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ART 201702240069A
Change in the Dividend Withholding Tax Rate
Argent Industrial Limited
(Registration number 1993/002054/06)
(Incorporated in the Republic of South Africa)
Share Code: ART
ISIN: ZAE000019188
(“Argent” or “the company”)
CHANGE IN THE DIVIDEND WITHHOLDING TAX RATE
Shareholders are referred to the announcement by the Finance Minister
Pravin Gordhan on 22 February 2017 during the delivery of the 2017
Budget, that the dividend withholding tax has been increased from 15%
to 20%. The effective date of the new rate is in respect of all
dividends paid on or after 22 February 2017.
Further to the SENS announcement released by Argent on 17 November
2016, in respect of the unaudited condensed consolidated interim
financial statements for the six months period ended 31 December 2016
which included a dividend declaration, shareholders are requested to
refer to the amended dividend declaration paragraph included below:
DIVIDEND
Subsequent to 30 September 2016, an interim gross dividend of 10
cents per share was approved and declared by the Board of Directors
for the six month period ending 30 September 2016 from income
reserves.
The following dates will apply to the abovementioned interim
dividend:
Last day to trade cum dividend: Monday, 20 March 2017
Trading ex-dividend commences: Wednesday, 22 March 2017
Record date: Friday, 24 March 2017
Dividend payment date: Monday, 27 March 2017
Share certificates may not be dematerialised or rematerialised
between Wednesday, 22 March 2017, and Friday, 24 March 2017, both
days inclusive.
In determining the dividends tax (DT) of 20% to withhold in terms of
the Income Tax Act (Act No. 58 of 1962), those shareholders who are
not exempt from the DT will therefore receive a dividend of 8.00
cents per share net of DT. The company has 95 324 800 ordinary shares
in issue and its income tax reference number is 9096/002/71/3.
Ordinary shareholders who hold dematerialised shares will have their
accounts at their CSDP or broker credited/updated on Monday, 27 March
2017.
Umhlanga
24 February 2017
Sponsor: PSG Capital Proprietary Limited
Date: 24/02/2017 03:28:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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