To view the PDF file, sign up for a MySharenet subscription.

LIGHTHOUSE CAPITAL LIMITED - Cash distribution for the six months ended 31 March 2019

Release Date: 14/05/2019 08:16
Code(s): LTE     PDF:  
Wrap Text
Cash distribution for the six months ended 31 March 2019

 LIGHTHOUSE CAPITAL LIMITED
 (formerly Greenbay Properties Ltd)
 (Incorporated in the Republic of Mauritius on 14 August 2014)
 (Registration number: C124756 C1/GBL)
 SEM share code: GFP.N0000
 JSE share code: LTE
 ISIN: MU0461N00015
 ("Lighthouse" or "the company")


CASH DISTRIBUTION FOR THE SIX MONTHS ENDED 31 MARCH 2019


Shareholders are advised that the board of directors of Lighthouse (the "Board") has approved and declared an interim
gross distribution of 1.5000 EUR cents per share for the six months ended 31 March 2019 (the "interim distribution").

The interim distribution will be payable to shareholders out of the company's non-distributable reserve.

SALIENT DATES AND TIMES

For shareholders on the South African share register
                                                                                                                2019
  Announcement of exchange rate released on SENS on or before                                        Tuesday, 21 May
  Last day to trade on the JSE in order to be eligible for the interim distribution                  Tuesday, 28 May
  Shares commence trading ex distribution on the JSE                                               Wednesday, 29 May
  Record date for shareholders recorded on the South African share register                           Friday, 31 May
  Payment of interim distribution                                                                     Monday, 3 June

Notes:
1.    The above dates are subject to change. Any changes will be released on SENS.
2.    Transfers of shares between sub-registers in South Africa and Mauritius may not take place between Tuesday,
      21 May 2019 and Friday, 31 May 2019, both days inclusive. No dematerialisation or rematerialisation of share
      certificates may take place between Wednesday, 29 May 2019 and Friday, 31 May 2019, both days inclusive.
3.    Shareholders on the South African share register will receive the interim distribution in South African Rand,
      based on the exchange rate to be announced by the Company on or before Tuesday, 21 May 2019.

For shareholders on the Mauritian share register
                                                                                                              2019
  Announcement of exchange rate released on the SEM website on or before                           Tuesday, 21 May
  Last day to trade on the SEM in order to be eligible for the interim distribution                Tuesday, 28 May
  Shares commence trading ex distribution on the SEM                                             Wednesday, 29 May
  Record date for shareholders recorded on the Mauritian share register                             Friday, 31 May
  Payment of interim distribution                                                                   Monday, 3 June

Notes:
1. The above dates are subject to change. Any changes will be released on the SEM website.
2. Transfers of shares between sub-registers in South Africa and Mauritius may not take place between Tuesday,
   21 May 2019 and Friday, 31 May 2019, both days inclusive. No dematerialisation or rematerialisation of share
   certificates may take place between Wednesday, 29 May 2019 and Friday, 31 May 2019, both days inclusive.
3. Shareholders on the Mauritian share register will receive the interim distribution in Euro.

TAX IMPLICATIONS

South Africa

The statements in this section relate only to certain limited aspects of the South African taxation of the distribution by
Lighthouse. Shareholders should note that the summary is a general guide to the South African tax regime currently in
place and is not exhaustive. Lighthouse shareholders are advised to consult their professional advisors regarding the tax
                                                                                                                        
consequences of the distribution. This section does not constitute advice and applies only to South African tax resident
shareholders who are the beneficial owners of the shares and relevant distributions and applies only in relation to shares
that are listed on the JSE.

In respect of South African tax resident shareholders ("resident shareholders"), as the distribution is being paid from
non-distributable reserves, the distribution is treated for Mauritian income tax purposes as a distribution or similar
payment (other than an amount that constitutes a dividend or similar payment) and will as such constitute a "foreign
return of capital" as defined in section 1 of the South African Income Tax Act., No. 58 of 1962 (the "SA Income Tax
Act").

In terms of paragraph 76B of the Eighth Schedule to the SA Income Tax Act such shareholders will be required to
reduce the base cost of their Greenbay shares with the amount of the foreign return of capital, being 1.5000 EUR cents
per Lighthouse share. If the amount of the foreign return of capital exceeds the base cost of the Lighthouse shares in the
hands of the resident shareholder, the excess will constitute a capital gain in the hands of the shareholder and the
shareholder must account for capital gains tax on such capital gain, unless the shareholder can rely on a capital gains
tax exemption.

A foreign return of capital is not subject to dividends tax.

Mauritius

The distribution may have tax implications for shareholders holding Lighthouse shares on the Mauritian share register.
Shareholders who hold their Lighthouse shares on the Mauritian share register are advised to consult their professional
advisors regarding the tax consequences, if any, of the distribution should they be in any doubt as to the appropriate
action to take.

There is no withholding tax payable in Mauritius.

As at the date of this announcement, Lighthouse has 457 790 136 ordinary shares of no par value in issue.

The company has a primary listing on both the Official Market of the SEM and the Main Board of the JSE.


By order of the Board
14 May 2019

For further information please contact:

                                          
JSE sponsor                                                                   
Java Capital
Tel: +27 11 722 3050         

                                
SEM authorised representative and sponsor
Perigeum Capital
Tel: +230 402 0890  


Company Secretary
Intercontinental Trust Ltd
Tel: +230 403 0800 


This notice is issued pursuant to JSE Listings Requirements, SEM Listing Rules 11.3 and Rule 5(1) of the Securities
(Disclosure Obligations of Reporting Issuers) Rules 2007. The Board of Directors of Lighthouse accepts full
responsibility for the accuracy of the information contained in this announcement.

Date: 14/05/2019 08:16:00 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.

Share This Story