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Correction of Typographical Error in Long Form Summarised Audited Annual Results for the Year Ended 31 March 2023
PBT Group Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1936/008278/06)
JSE Share code: PBG ISIN: ZAE000256319
("PBT Group")
CORRECTION OF TYPOGRAPHICAL ERROR IN DISTRIBUTION DECLARATION IN SUMMARISED AUDITED
CONSOLIDATED ANNUAL FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
(“SUMMARISED RESULTS”)
Please note that this announcement is published to correct a typographical error that occurs in the distribution
declaration in the long form Summarised Results for the year ended 31 March 2023 of the Company, which were
published on the JSE website on 30 June 2023, and contains no other amendments.
Shareholders are advised that the distribution declaration contained in the Summarised Results, that were published
on the JSE website on 30 June 2023, contains a typographical error in that the word “election” appears on pages 6
and 47 thereof. Shareholders may be aware that while the election to receive a distribution either as a dividend or as
a capital distribution was offered to shareholders by PBT Group in the past, such elections are no longer possible, due
to recent amendments to South African income tax legislation. For the avoidance of doubt PBT Group confirms that
no election is being offered and shareholders will receive both a dividend and a capital distribution.
The typographical error also occurs in the Integrated Annual Report, which is scheduled for publication on 7 July 2023.
The correct distribution declaration, which appears in the short form announcement of the Summarised Results, which
was published on SENS on 30 June 2023, is as follows:
DISTRIBUTION DECLARATION
The company's distribution policy is to consider an interim and a final distribution in respect of each financial year. At
its discretion, the board of directors may consider a special or ad hoc distribution, where appropriate. Depending on
the perceived need to retain funds for expansion or operating purposes, the board of directors may also elect not to
pay distributions.
On Friday, 23 June 2023, the Board of Directors resolved to declare a capital reduction distribution of 16.50 cents per
PBT ordinary share and a dividend distribution of 16.50 cents per PBT ordinary share (collectively ‘the Distribution”).
The total Distribution will equate to R34.5 million.
The implications of the Distribution on shareholders are as follows:
• The gross dividend of 16.50 cents per PBT ordinary share from income reserves will be subject to dividend
withholding tax at a rate of 20%. Consequently, a net final dividend of 13.20 cents per share will be distributed to
those shareholders who are not exempt from paying dividend tax. In terms of dividend tax legislation, the dividend
tax amount due will be withheld and paid over to the South African Revenue Services by a nominee company,
stockbroker or Central Securities Depository Participant (“CSDP”) (collectively ‘regulated intermediary’) on behalf
of the shareholders. However, all shareholders choosing this option should declare their status to their regulated
intermediary, as they may qualify for a reduced dividend tax rate or exemption.
• The capital reduction distribution of 16.50 cents per PBT ordinary share is not subject to dividend withholding tax
as it is paid out of capital reserves. As the capital reduction distribution will be regarded as a return of capital and
may therefore have potential capital gains tax consequences, shareholders are advised to consult their tax
advisers regarding the impact of the capital reduction distribution.
As at the date of declaration of the Distribution there were 104 590 000 PBT ordinary shares in issue. The company’s
income tax reference number is 9725148713.
In compliance with the Companies Act, the Directors confirm and have resolved that the Company will satisfy the
solvency and liquidity test immediately after the payment of the Distribution.
In accordance with the provisions of Strate Proprietary Limited, the electronic settlement and custody system used by
the JSE Limited, the relevant dates for the Distribution are as follows:
Last day to trade “cum Distribution” Tuesday, 18 July 2023
First trading day “ex Distribution” Wednesday, 19 July 2023
Record date Friday, 21 July 2023
Payment date Monday, 24 July 2023
No share certificates may be dematerialised or rematerialised between Wednesday, 19 July 2023, and Friday, 21 July
2023, both days inclusive. Only the shareholders recorded in the Company’s share register as at record date are
entitled to receive the Distribution declared.
Payments for certificated shareholders will be transferred electronically to their bank accounts on the payment date.
Shareholders who hold dematerialised shares will have their accounts at their CSDP or stockbroker credited on
Monday, 24 July 2023.
30 June 2023
Cape Town
Sponsor
Questco Corporate Advisory Proprietary Limited
Date: 30-06-2023 04:38:00
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