REG - BATM Advanced Comm - Dividend Declaration

Batm Advanced CommunicationsAnnouncement

04/01/2022 07:00

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RNS Number : 2467X  BATM Advanced Communications Ld  04 January 2022

LEI: 213800FLQUB9J289RU66

4 January 2022

 

BATM Advanced Communications Limited

("BATM" or "the Group")

 

Dividend Declaration

 

Further to the Group's announcement of 14 December 2021, BATM (LSE: BVC; TASE:
BVC), a leading provider of real-time technologies for networking solutions
and medical laboratory systems, gives notice of how eligible shareholders who
are not Israeli tax residents can apply for, and benefit from, a reduced
withholding tax rate with regards to the dividend payment.

 

Withholding Tax Rate

 

In accordance with Israeli tax regulation, the Group will withhold at source
16.74% (the "Withholding Tax Rate") of the gross amount of the dividend.
Shareholders or holders of depositary interests in respect of ordinary shares
in the Company who are subject to a lower withholding tax rate as a resident
of a country with which Israel has a treaty for the avoidance of double
taxation, such as the UK, may be eligible to benefit from a reduced
withholding tax rate ("Eligible Shareholder").

 

Under the Double Taxation Treaty between Israel and the UK, a shareholder or
depositary interest holder who is a British tax resident (and does not have a
permanent establishment in Israel) and whose dividend income is subject to tax
in the UK, is entitled to a reduced withholding tax rate of 15.00% or 5.00%
if the beneficial owner of the dividend is a company (the "Reduced Withholding
Tax Rate").

 

Dividend Payment Process and Applying for Reduced Withholding Tax Rate

 

The Group has appointed IBI Trust Management as its trustee and sub-paying
agent (the "Tax Trustee"). The Group will transfer 16.74% of the gross amount
of the dividend to the Tax Trustee and the remaining balance will be paid to
shareholders or depositary interest holders through Link Group or a
shareholder's relevant broker.

 

Eligible Shareholders can apply to the Tax Trustee to reclaim the difference
between the amount withheld in accordance with the Withholding Tax Rate and
the amount that would be withheld if the Reduced Withholding Tax Rate (or
equivalent rate for Eligible Shareholders in jurisdictions other than the UK)
were applied.

 

To apply for a reduced withholding tax rate, Eligible Shareholders must
deliver to the Tax Trustee, via the email address below, scanned copies of
specified tax residency and banking documentation and a completed application
form (the "Application") by 15 February 2022 (the "Application Deadline"). The
documents required to be included in the Application are detailed in the
application form, which is available for download at the following link or by
contacting the Tax Trustee:

 

https://www.batm.com/media/1486/tax-withholding-form.pdf
(https://www.batm.com/media/1486/tax-withholding-form.pdf)

 

The Tax Trustee will review the Applications and refund to Eligible
Shareholders, who submitted approved and complete Applications by the
Application Deadline, any excess tax withheld in accordance with any
applicable reduced withholding tax rate. Following the repayments of such
refunds, the Tax Trustee will remit all remaining funds to the Israel Tax
Authority.

 

Tax Trustee Contact Information

 

The contact information for the Tax Trustee, including the email address for
submitting Applications, is as follows:

 

IBI Trust Management

Address: 9 Ehad Ha'am (Shalom Tower), Tel Aviv, Israel

Email: IBI-CM@IBI.co.il (mailto:IBI-CM@IBI.co.il)

Phone: +972 506 209 410

 

 

Shareholders are advised to consult with their own personal tax and financial
advisers as to the tax consequences resulting from their personal tax
situation.

 

 

Enquiries:

 

 BATM Advanced Communications
 Dr Zvi Marom, Chief Executive Officer                          +972 9866 2525
 Moti Nagar, Chief Financial Officer

 Shore Capital
 Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory)  +44 20 7408 4050

 Henry Willcocks (Corporate Broking)

 Luther Pendragon
 Harry Chathli, Claire Norbury                                  +44 20 7618 9100

 

 

 

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