CHOPPIES ENTERPRISES LIMITED - Cash dividend finalisation announcement

Cash dividend finalisation announcement

CHOPPIES ENTERPRISES LIMITED
Registration number BW00001142508
ISIN:BW0000001072
BSE SHARE CODE: CHOP-EQO
JSE SHARE CODE: CHP
Tax Reference Number: C08710401018
("Choppies" or "Company")

CASH DIVIDEND FINALISATION ANNOUNCEMENT

Shareholders are referred to the announcement released on the Botswana Stock Exchange ("BSE") and
Johannesburg Stock Exchange ("JSE") on 29 February 2024, wherein the Company confirmed that a gross
interim dividend of 1.6 thebe per share, in respect of the six months ended 31 December 2023, had been
declared to shareholders appearing on the Company's JSE and BSE share registers on Friday, 05 April 2024
("Dividend").

In respect of shareholders registered on the BSE:

The Dividend net of Botswana withholding taxes of 10% shall be 1.44 thebe per share.

                                                                                                     2024
    Declaration date                                                                Thursday, 29 February
    Last day to trade cum dividend                                                      Tuesday, 02 April
    Trading ex-dividend commences                                                     Wednesday, 03 April
    Record date                                                                          Friday, 05 April
    Dividend payment date                                                               Tuesday, 16 April

In respect of shareholders registered on the JSE:

The Dividend shall be paid in Rand to shareholders on the South African register, calculated at the Botswana
Pula ("BWP") to South African Rand ("ZAR") exchange rate of BWP1 / ZAR 1.3737 as at
Thursday, 14 March 2024, and accordingly the gross Dividend payable to such shareholders is 2.19792
cents per share, less withholding taxes (see below). The dividend has been declared from income reserves
and is a foreign dividend in respect of South African resident shareholders.

                                                                                                     2024
    Declaration date                                                                Thursday, 29 February
    Currency determination date                                                        Thursday, 14 March
    Currency conversion rates announced                                                  Friday, 15 March
    Last day to trade cum dividend                                                      Tuesday, 02 April
    Trading ex-dividend commences                                                     Wednesday, 03 April
    Record date                                                                          Friday, 05 April
    Dividend payment date                                                               Tuesday, 16 April

The following information is provided to shareholders in respect of dividend tax:

•   Shareholders are advised that Botswana dividend withholding tax of 10% on the declared dividend will
    be applicable to all shareholders.
•   Dividends payable to non-exempt shareholders registered on the JSE are subject to 20% withholding tax
    in accordance with the South African Income Tax Act, unless varied in accordance with any relevant
    Double Tax Agreement. The applicable South African withholding tax is reduced by the amount of the
    Botswana dividend withholding tax deducted, resulting in a maximum withholding tax rate on dividends
    of 20%, being a net amount of 1.75834 cents per share.
•   Withholding taxes on dividends payable to Botswana residents, non-exempt shareholders registered on
    the JSE, are restricted to 15% in accordance with the Botswana/South Africa Double Tax Agreement,
    resulting in a net amount of 1.86823 cents per share.
•   Shareholders must acknowledge that neither the Company nor its advisors provide any specific tax advice
    in connection with this notice. The Company makes no representations concerning the tax consequences
    of this notice. Shareholders must consult with their tax advisors concerning the tax consequences of this
    notice.

This interim dividend is the first dividend since the Company's 2017 financial year, marking a key milestone
in the performance of the Group and the return of value add to shareholders.

The Company has a primary listing on the BSE and a secondary listing on the JSE.

15 March 2024

BSE Sponsoring Broker                                                      JSE Sponsor
Stockbrokers Botswana Limited                                              PSG Capital

Date: 15-03-2024 11:30:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.