REG - Thungela Resources - Dividend Declaration

Thungela ResourcesAnnouncement

21/08/2023 07:15

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RNS Number : 8453J  Thungela Resources Limited  21 August 2023

THUNGELA RESOURCES LIMITED

(Incorporated in the Republic of South Africa)

Registration number: 2021/303811/06

JSE Share Code: TGA

LSE Share Code: TGA

ISIN: ZAE000296554

Tax number: 9111917259

('Thungela' or the 'Company' and, together with its affiliates, the 'Group')

 

ORDINARY CASH DIVIDEND DECLARATION

 

The Thungela board of directors approved the declaration of an interim gross
ordinary cash dividend of 1,000.00 cents per share (South African rand). The
dividend has been declared from retained earnings accrued during the six-month
period ended 30 June 2023. The Company's issued share capital at the
declaration date is 140,492,585 ordinary shares.

 

The salient dates pertaining to the cash dividend are as follows:

                                                                               JSE                 LSE
 Declaration of ordinary cash dividend and currency conversion rate announced  Monday,             Monday,

                                                                               21 August 2023      21 August 2023
 Last day for trading to qualify and participate in the dividend               Tuesday,            Wednesday,

                                                                               19 September 2023   20 September 2023
 Trading ex-dividend commences                                                 Wednesday,          Thursday,

                                                                               20 September 2023   21 September 2023
 Record date                                                                   Friday,             Friday,

                                                                               22 September 2023   22 September 2023
 Payment date to shareholders                                                  Tuesday,            Monday,

                                                                               26 September 2023   9 October 2023

 

No transfers of shareholdings to and from South Africa or the United Kingdom
will be permitted between Tuesday, 19 September 2023 and Friday, 22 September
2023 (both dates inclusive). Share certificates may not be dematerialised or
rematerialised between Wednesday, 20 September 2023 and Friday, 22 September
2023 (both dates inclusive). Any changes to the dividend instructions and
timetable will be announced on SENS and RNS.

 

The salient dates have been set as above in order to allow non-South African
resident shareholders sufficient time to apply for a reduced rate of dividend
withholding tax in the event that they may qualify for this.

 

The dividend is payable in South African rand to shareholders recorded as such
on the register on the record date and whose shares are held through Central
Securities Participants and brokers traded on the JSE.

 

Shareholders on the United Kingdom register of members will be paid in Pound
sterling. The Pound sterling cash equivalent will be calculated using the
following exchange rate: GBP1:ZAR24.26300, being the five-day (business days)
average GBP:ZAR exchange rate (Bloomberg) up to Thursday, 17 August 2023.

 

Shareholders are encouraged to ensure that their bank mandates or
international payment instructions have been recorded by their service
provider or registrars before the last day to trade for this dividend.
Electronic payments ensure more efficient and timely payment. It should be
noted that cheques are no longer permitted to be issued or processed by South
African banks; however, in the UK registrars will still issue and post cheques
in the absence of specific mandates or payment instructions.

 

TAX TREATMENT FOR SHAREHOLDERS ON THE SOUTH AFRICAN REGISTER

The dividend will have no tax consequences for Thungela but will be subject to
20% withholding tax for shareholders who are not exempt from dividends tax, or
who do not qualify for a reduced rate of withholding tax in terms of any
applicable agreement for the avoidance of double taxation (DTA) concluded
between South Africa and the country of residence of the shareholder.

 

Should dividend withholding tax be withheld at a rate of 20%, the net dividend
amount due to shareholders is 800.00 cents per share (South African rand) -
1,000.00 cents gross dividend per share less 200.00 cents dividend withholding
tax per share.

 

TAX TREATMENT FOR SHAREHOLDERS ON THE UK REGISTER

Thungela has retained Computershare UK as intermediary to receive and process
the relevant prescribed declarations and forms as set out below. Any reference
below to documentation which is required to be submitted to Thungela, should
therefore be submitted to Computershare UK.

 

Non-South African tax resident shareholders will be paid the dividend subject
to 20% withholding tax for shareholders. Certain non-South African tax
resident shareholders may, however, be entitled to a reduced rate of dividends
tax due to the provisions of an applicable tax treaty.

 

 

 

 

 

Shareholders who qualify for an exemption from dividends tax in terms of
section 64F of the South African Income Tax Act 58 of 1962 must provide:

•     A declaration that the dividend is exempt from dividends tax.

•     A written undertaking to inform the regulated intermediary should
the circumstances affecting the exemption 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 to the regulated intermediary prior to
the required date in order to benefit from the exemption. The prescribed form
has been transposed onto the Computershare UK format.

 

Shareholders on the UK register will be sent the required documentation for
completion and return to Computershare UK. Qualifying shareholders on the UK
register are advised to arrange for the above mentioned documents to be
submitted to Computershare UK by Friday, 15 September 2023.

 

Should dividend withholding tax be withheld at a rate of 20%, the net dividend
amount due to shareholders is 32.98 pence per share (Pound sterling) - 41.22
pence gross dividend per share less 8.24 pence dividend withholding tax
per share.

 

 

By order of the board.

Date of SENS release: 21 August 2023

 

DISCLAIMER

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the market abuse regulation
(EU) no. 596/2014 as amended by the market abuse (amendment) (UK mar)
regulations 2019. Upon the publication of this announcement via the regulatory
information service, this inside information is now considered to be in the
public domain.

 

Transfer Secretaries (UK)

Computershare Investor Services

Email: WebCorres@computershare.co.uk

 

Transfer Secretaries (South Africa)

Computershare Investor Services Proprietary Limited

Email: Web.Queries@computershare.co.za

 

Investor Relations

Ryan Africa

Email: ryan.africa@thungela.com

 

UK Financial adviser and corporate broker

Liberum Capital Limited

Tel: +44 20 3100 2000

 

Sponsor

Rand Merchant Bank

(A division of FirstRand Bank Limited)

 

 

 

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