TIDMTHS
RNS Number : 8261F
Tharisa PLC
23 May 2017
Tharisa plc
(Incorporated in the Republic of Cyprus with limited
liability)
(Registration number HE223412)
JSE share code: THA
LSE share code: THS
ISIN: CY0103562118
('Tharisa')
Capital reduction and cash distribution to shareholders,
currency conversion rates and timetable
Further to the announcement on 2 February 2017 that the proposed
capital reduction and gross return of capital to shareholders of
US$0.01 per share (the Distribution) was approved by shareholders
by special resolution, shareholders are informed that the requisite
approval by the Paphos District Court was obtained, the necessary
submissions made to the Cyprus Registrar of Companies, and that the
capital reduction is now effective.
Shareholders on the principal Cyprus register will be paid in
US$, shareholders whose shares are held through Central Securities
Depositary Participants (CSDPs) and brokers and are traded on the
JSE will be paid in South African Rand (ZAR) and holders of
Depositary Interests traded on the LSE will be paid in Sterling
(GBP). The Distribution will be paid from contributed capital and
constitutes a return of capital.
The currency equivalents of the Distribution, based on the
weighted average of the South African Reserve Bank's daily rate at
approximately 10:30 (UTC +2) on 19 May 2017, are as follows:
Exchange Distribution per share
rate in payment currency
--------------- ---------------- -----------------------
South Africa ZAR 13.2874/US$ 13.2874 South African
- JSE cents per share
--------------- ---------------- -----------------------
United Kingdom GBP 0.7694/US$ 0.7694 pence per share
-- LSE
--------------- ---------------- -----------------------
The timetable for the Distribution is as follows:
Currency conversion date Friday 19 May 2017
Currency conversion rates Tuesday 23 May 2017
announced
Last day to trade cum-Distribution Tuesday 6 June 2017
rights on the JSE
Last day to trade cum-Distribution Wednesday 7 June
rights on the LSE 2017
Shares will trade ex-Distribution Wednesday 7 June
rights on the JSE from 2017
Shares will trade ex-Distribution Thursday 8 June
rights on the LSE from 2017
Record date for payment on Friday 9 June 2017
both JSE and LSE
Distribution payment date Wednesday, 14 June
2017
No dematerialisation or rematerialisation of shares within
Strate will be permitted between Wednesday 7 June 2017 and Friday 9
June 2017, both days inclusive. No transfers between registers will
be permitted between Friday 19 May 2017 and Friday 9 June 2017.
Tax implications of the Distribution
Shareholders and Depositary Interest holders should note that
information provided should not be regarded as tax advice. All
shareholders and Depositary Interest holders should consult their
brokers, CSDP and/or tax advisors with regard to how they will be
impacted by the Distribution.
South African tax residents
For tax purposes, South African shareholders are advised that
the Distribution constitutes a foreign return of capital and will
therefore have Capital Gains Tax implications for South African tax
residents.
The Distribution will first reduce the base cost of the shares
in the shareholder's hands to ZARnil, and any excess will be
treated as a capital gain at the time of receipt or accrual of the
distribution. The taxable capital gain will be calculated as
follows:
-- in the case of a natural person or special trust (as
defined), 40% of the net capital gain;
-- in any other case, 80% of the net capital gain.
UK tax residents
UK tax residents are advised that the Distribution constitutes a
foreign return of capital and that they should consult their
brokers, financial and/or tax advisors with regard to how they will
be impacted by the Distribution.
Cyprus tax residents
For Cyprus tax resident and domiciled shareholders who are
individuals, the Distribution constitutes a return of capital as it
represents an amount lower than the paid up share capital. Shares
listed on any recognised stock exchange are excluded from the
Cyprus Capital Gains Tax provisions. There are no withholding taxes
on distributions to shareholders which are Cypriot legal
persons.
Additional information required by the JSE Listing
Requirements
1. Tharisa had a total of 256 981 571 ordinary shares in issue on 19 May 2017.
2. The Distribution will be paid out of the share premium account.
Paphos, Cyprus
23 May 2017
JSE Sponsor
Investec Bank Limited
Please direct any queries to Tharisa's Transfer Secretaries
Computershare Investor Services Proprietary Limited
Registration number: 2004/003647/07
Rosebank Towers, 15 Biermann Avenue, Rosebank 2196
(PO Box 61051, Marshalltown 2107)
South Africa
Telephone +27 11 370 5000 or 0861 100 930 (South Africa toll
free)
Email enquiries Web.Queries@Computershare.co.za
Computershare Investor Services PLC
Registration number: 3498808
The Pavilions, Bridgwater Road, Bristol BS13 8AE
England, United Kingdom
Telephone +44 (0370) 702 0000
Email enquiries !UKALLDITeam2@computershare.co.uk
Cymain Registrars Limited
Registration number: HE174490
26 Vyronos Avenue, 1096 Nicosia
Cyprus
Telephone Int + 357 22104 452
Email enquiries registry@cymainregistrars.com.cy
Investor Relations contact:
Tharisa plc
Sherilee Lakmidas
+27 11 996 3538
+27 79 276 2529
slakmidas@tharisa.com
Broker contacts:
Peel Hunt LLP (Joint Broker)
Matthew Armitt / Ross Allister
+44 207 7418 8900
BMO Capital Markets Limited (Joint Broker)
Jeffrey Couch/Neil Haycock/Thomas Rider
+44 020 7236 1010
This information is provided by RNS
The company news service from the London Stock Exchange
END
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