Stenprop Limited -Dividend Declaration

Hamilton, Bermuda: 22 November 2017 – In a filing with the Bermuda Stock Exchange (“BSX”), Stenprop Limited (the “Company” or “Stenprop”; Ticker: STP.BH) declared a final cash dividend. The full filing stated:

DIVIDEND DECLARATION

Shareholders are advised that the board of directors has declared a final cash dividend of 4.0 pence per ordinary share for the six months ended 30 September 2017 (the “dividend”).

Shareholders on the South African register will receive the dividend in South African Rand, based on the exchange rate to be obtained by the company on or before Tuesday, 9 January 2018. A further announcement in this regard will be made on Tuesday, 9 January 2018.

Shareholders on the Bermudian register will receive the dividend in Sterling.  

The salient dates for this dividend payment are as follows:

Share certificates may not be dematerialised or rematerialised between Wednesday, 17 January 2018 and Friday, 19 January 2018, both days inclusive. Transfers of shares between sub-registers in South Africa and Bermuda may not take place between Tuesday, 9January 2018 and Friday, 19 January 2018. The dividend will be transferred to dematerialised shareholders’ CSDP/broker accounts on Friday, 26 January 2018. Certificated shareholders’ dividend payments will be posted on or paid to certificated shareholders’ bank accounts on or about Friday, 26 January 2018.

South African shareholders are advised that this dividend will be regarded as a foreign dividend and may be subject to South African dividends withholding tax. With effect from 22 February 2017, the local dividends withholding tax rate increased from 15% to 20%, unless an exemption as set out in the South African tax legislation applies. There is no withholding tax payable in Bermuda.

The receipt of the dividend may have tax implications for shareholders who are resident in countries other than South Africa.

Stenprop shareholders are advised to consult their professional advisors regarding the tax consequences of the dividend should they be in any doubt as to the appropriate action to take.

At the date of this announcement, the issued share capital of the company is 291,718,476 ordinary shares with a par value of EUR0.000001258  each.

Stenprop has a primary listing on the Main Board of the JSE and a secondary listing on the BSX

22 November 2017

JSE sponsor

JAVA CAPITAL

Bermuda Stock Exchange sponsor

Estera Securities (Bermuda) Limited