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Finalisation announcement - cash distribution for the six months ended 30 September 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”)
FINALISATION ANNOUNCEMENT – CASH DISTRIBUTION FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2019
Shareholders are referred to the distribution announcement released by the company on Tuesday, 12 November
2019, regarding a cash distribution of 1.5000 EUR cents per share for the six months ended 30 September 2019
(“cash distribution”).
Shareholders who hold their Lighthouse shares on the South African share register will receive the cash
distribution in South African Rands, converted from Euro at an exchange rate of EUR1.00: ZAR 16.39000.
Accordingly, the South African Rand equivalent of the 1.50000 EUR cents per share cash distribution will be
24.58500 ZAR cents per share.
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 Lighthouse 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.
The salient dates and times and other details announced on Tuesday, 12 November 2019 remain unchanged.
The company has a primary listing on the Official Market of the Stock Exchange of Mauritius Ltd (“SEM”) and
the Main Board of the JSE Limited (“JSE”).
By order of the Board
18 November 2019
This notice is issued pursuant to JSE Listings Requirements, SEM Listing Rule 11.3 and Rule 5(1) of the
Securities (Disclosure Obligations of Reporting Issuers) Rules 2007. The Board accepts full responsibility for the
accuracy of the information in this announcement.
For further information please contact:
SEM authorised representative
JSE sponsor and sponsor Company Secretary
Java Capital Perigeum Capital Intercontinental Trust Ltd
Tel: +27 11 722 3050 Tel: +230 402 0890 Tel: +230 403 0800
Date: 18/11/2019 05:45:00
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