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Mediclinic Intnl plc - TAX TREATMENT FOR SOUTH AFRICAN DIVIDENDS
RNS Number : 9709Q
Mediclinic International PLC
05 December 2016
 

Mediclinic International plc
(Incorporated in England and Wales)
Company Number: 08338604
LSE Share Code: MDC

JSE Share Code: MEI
NSX Share Code: MEP

ISIN: GB00B8HX8Z88

("Mediclinic" or "the Company")

 

5 December 2016

 

TAX TREATMENT OF ORDINARY SHARE DIVIDEND FOR SHAREHOLDERS ON THE SOUTH AFRICAN REGISTER

 

Background

 

Shareholders on the South African register of the Company are referred to Mediclinic's interim results for the six months ended 30 September 2016 and declaration of dividend announcement released on the Stock Exchange News Service and on the Regulatory News Service on 10 November 2016, confirming that the Board of Directors of Mediclinic had declared an interim dividend from retained earnings of 3.20 pence per ordinary share for the six months ended on 30 September 2016.

 

Shareholders on the South African register will be paid the ZAR cash equivalent of 3.20 pence per ordinary share, being 53.31200 cents (45.31520 cents net of dividend withholding tax) per ordinary share (based on the 5 day average ZAR/GBP exchange rate on Friday, 4 November 2016, being GBP1/ZAR16.66). A dividend withholding tax of 15% will be applicable to all shareholders on the South African register who are not exempt therefrom.

 

The interim dividend will be paid on Monday, 12 December 2016 to all Mediclinic shareholders who were recorded on the Company's register of members at the close of business on the record date, being Friday, 25 November 2016.

 

Tax treatment

 

The Company wishes to clarify the tax treatment of the dividend payable to Mediclinic shareholders on the South African register.

 

South African tax resident shareholders on the South African register:

 

In terms of the Company's Dividend Access Trust structure,  the following South African tax resident shareholders on the South African register will receive a component of the dividend, namely 31.29280 cents per share, from the Dividend Access Trust and therefore regarded as a local South African dividend, with the remaining component, namely 22.01920 cents per share, from the Company and therefore regarded as a foreign non-South African dividend. For purposes of South African dividend withholding tax, the entire dividend of 53.31200 cents per share is taxable at a rate of 15%, unless an applicable exemption applies:

 

1.

in the case of shares held in certificated form, who are registered on the South African register with an address in South Africa (other than PLC Nominees Proprietary Limited (or any successor entity through which shares held in dematerialised form are held)); and

 

2.

in the case of shares held in dematerialised form, in respect of whom the South African transfer secretaries of the Company have determined, in good faith and by reference to the information provided to them by the eligible shareholders and/or their brokers and/or central securities depository participants, that such eligible shareholders are either (i) tax resident in South Africa or (ii) have an address in South Africa and have not expressly indicated that they are not tax resident in South Africa as at the dividend record date.

 

Non-South African tax resident shareholders on the South African register:

 

Non-South African tax resident shareholders on the South African register will be paid the dividend by the Company in the usual way and not through the Dividend Access Trust. The entire dividend of 53.31200 cents per share payable to such shareholders will therefore be regarded as a foreign dividend and exempt from South African dividend withholding tax, provided that the relevant exemption forms have been completed and submitted as prescribed.

 

 

Registered address: 1st Floor, 40 Dukes Place, London, EC3A 7NH, United Kingdom

Website: www.mediclinic.com

Corporate broker: Morgan Stanley & Co International plc

JSE sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)

NSX sponsor: Simonis Storm Securities (Pty) Ltd

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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Combination of Mediclinic International Limited ("Mediclinic") and Al Noor Hospitals Group plc ("Al Noor") (the "Combination")

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If you would like to view this part of the website, please read this notice carefully. This notice applies to all persons who view this part of the website and, depending on where you are located, may affect your rights or responsibilities. Mediclinic reserves the right to amend or update this notice at any time and you should, therefore, read it in full each time you visit the site. In addition, the contents of this part of the website may be amended at any time, in whole or in part, at the sole discretion of Mediclinic.

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The Combination would be made by means of a scheme document to be published by Mediclinic which would contain the full terms and conditions of such Combination, including details on how it may be accepted. Any decision made in relation to the Combination should be made solely and only on the basis of the information provided in any such document.

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This part of the website and the information contained in it may contain certain forward-looking statements with respect to the financial condition, results of operations and businesses of Mediclinic and the Mediclinic Group (being Mediclinic and its subsidiaries and subsidiary undertakings) and Al Noor and the Al Noor Group (being Al Noor and its subsidiaries and subsidiary undertakings) following the Combination. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management's current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Mediclinic and the Mediclinic Group to market risks and statements expressing management's expectations, beliefs, estimates, forecasts, projections and assumptions, including as to future potential cost savings, synergies, earnings, cash flow and prospects. These forward-looking statements are identified by their use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "goals", "intend", "may", "objectives", "outlook", "plan", "probably", "project", "risks", "seek", "should", "target", "will" and similar terms and phrases. There are a number of factors that could affect the future operations of Mediclinic and the Mediclinic Group and Al Noor and the Al Noor Group post Combination and could cause those results to differ materially from those expressed in the forward-looking statements included in this part of the website. All forward-looking statements contained in this part of the website are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as at the specified date of the relevant document within which the statement is contained. None of Mediclinic, the Mediclinic Group, Al Noor or the Al Noor Group undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this part of the website.

Responsibility

In relation to any Combination-related materials accessible on this area of the website please note any statement of responsibility contained therein.

The documents included in this part of the website issued or published by Mediclinic speak only at the specified date of the relevant document and Mediclinic has, and accepts, no responsibility or duty to update or revise such documents.

In relation to any such announcements or other Combination-related materials issued or published by Al Noor, or which relate to Al Noor and the Al Noor Group, that are accessible on this website, the only responsibility accepted by Mediclinic and its directors is for the correctness and fairness of its reproduction.

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Other

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