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THE STANDARD BANK OF SOUTH AFRICA LIMITED - SCIB: The Standard Bank Of South Africa- RDF Share Instalment Dividend Announcement.

Release Date: 19/11/2021 16:25
Code(s): RDFSTM     PDF:  
Wrap Text
SCIB: The Standard Bank Of South Africa- RDF Share Instalment Dividend Announcement.

SCIB: The Standard Bank Of South Africa Limited – REIT Distribution announcement in relation to
the RDF share
The Standard Bank of South Africa Limited
Share Code: RDFSTM
ISIN Code: ZAE000297412

19/11/2021

REIT DISTRIBUTION ANNOUNCEMENT IN RELATION TO THE RDF              SHARE INSTALMENT

Notice is hereby given that as a result of the REIT distribution declaration
relating to
REDEFINE PROPERTIES LIMITED (RDF) shares, the holders of RDFSTM share
instalments will receive a REDEFINE PROPERTIES LIMITED (RDF) REIT distribution
of cents 60.11921 (gross) per Instalment.

Last date to trade cum REIT distribution Tuesday, 30/11/2021
Ex- REIT distribution Date Wednesday, 01/12/2021
Record Date Friday, 03/12/2021
Payment Date Monday, 06/12/2021

TAX IMPLICATIONS

Redefine was granted REIT status by the JSE Limited with effect from 1
September 2013 in line with the REIT structure as provided for in the Income
Tax Act, No. 58 of 1962, as amended (theIncome Tax Act?) and section 13 of
the JSE Listings Requirements.

The REIT structure is a tax regime that allows a REIT to deduct qualifying
distributions paid to investors, in determining its taxable income.

The cash dividend of 60.11921 cents per share meets the requirements of a
qualifying distribution? for the purposes of section 25BB of the Income Tax
Act (a ?qualifying distribution?) with the result
that:

qualifying distributions received or accrued to SA tax resident Redefine
shareholders must be included in the gross income of such shareholders (as a
non-exempt dividend in terms of section 10(1)(k)(aa) of the Income Tax Act),
with the effect that the qualifying distribution is taxable as income in the
hands of the Redefine shareholder. These qualifying distributions are
however exempt from dividends withholding tax, provided that the SA tax
resident Redefine shareholders provided the following forms to their CSDP or
broker, as the case may be, in respect of uncertificated shares, or the
company, in respect of certificated shares:

a declaration that the dividend is exempt from dividends tax; and

a written undertaking to inform the CSDP, broker or the company, as the case
may be,should the circumstances affecting the exemption change or the
beneficial owner ceaseto be the beneficial owner,

both in the form prescribed by the Commissioner for the South African
Revenue Service.Shareholders are advised to contact their CSDP, broker or
the company, as the case may be,to arrange for the abovementioned documents
to be submitted prior to payment of the dividend, if such documents have not
already been submitted.
qualifying distributions received by non-resident Redefine shareholders will
not be taxable as income and instead will be treated as ordinary dividends
but which are exempt in terms of the usual dividend exemptions per section
10(1)(k) of the Income Tax Act. Any qualifying distributions are subject to
dividends withholding tax at 20%, unless the rate is reduced in terms of any
applicable agreement for the avoidance of double taxation (?DTA?) between
South Africa and the country of residence of the shareholder. Assuming
dividends withholding tax will be withheld at a rate of 20%, the net
dividend amount due to non-resident shareholders is 48.09537 cents per
share. A reduced dividend withholding rate in terms of the applicable DTA
may only be relied upon if the non-resident shareholder has provided the
following forms to their CSDP or broker, as the case may be, in respect of
uncertificated shares, or the company,in respect of certificated shares:

 -    a declaration that the dividend is subject to a reduced rate as a
result of the application of a DTA; and

 -    a written undertaking to inform their CSDP, broker or the company, as
the case may be, should the circumstances affecting the reduced rate change
or the beneficial owner cease to be the beneficial owner,

both in the form prescribed by the Commissioner for the South African
Revenue Service. Non- resident shareholders are advised to contact their
CSDP, broker or the company, as the case may be, to arrange for the
abovementioned documents to be submitted prior to payment of the dividend if
such documents have not already been submitted, if applicable. Shareholders
are advised that in electing to participate in the share re-investment
alternative, pre-taxation funds are utilised for the purposes and that
taxation will be due on the total cash dividend amount of 60.11921 cents per
share.

For more details relating to this REIT distribution please refer to the SENS
announcement issued by REDEFINE PROPERTIES LIMITED on 15/11/2021

For further information contact:
Standard Bank Warrants
Tel 0800 111 780
Email: derivatives@standardbank.co.za
Issuer: The Standard Bank of South Africa Limited
Sponsor: SBG Securities (Pty) Limited

This notice should be read together with the Common Terms Document, Conditions
Annexure and relevant Supplement which collectively record the terms and
conditions of the agreement between the Issuer and Warrant holders.

Date: 19-11-2021 04:25:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

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