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Unaudited condensed consolidated interim results for the six months ended 31 August 2021 and declaration of dividend
EXEMPLAR REITAIL LIMITED
(Incorporated in the Republic of South Africa)
("Exemplar" or "the Company")
Registration number: 2018/022591/06
JSE share code: EXP
ISIN: ZAE000257549
LEI: 3789000558287E37F130
Approved as a REIT by the JSE
UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2021 AND DECLARATION OF DIVIDEND
NATURE OF BUSINESS
Exemplar is a listed Real Estate Investment Trust ("REIT") whose core focus is the provision and management
of retail services to previously underserviced regions across five provinces of South Africa. There are currently
23 retail assets in the portfolio with a combined GLA of 382 450m(2).
KEY FINANCIAL INFORMATION
Unaudited Unaudited Audited
for the for the for the
six months six months 12 months
ended ended ended
31 August 31 August Change 28 February
2021 2020 % 2021
Revenue (R'000) 447 473 355 984 25.70 789 206
Operating profit (R'000) 285 510 204 130 39.87 480 129
Operating profit before operating lease equalisation (R'000) 283 722 202 335 40.22 473 728
Basic and diluted earnings per share (cents) 59.68711 28.01961 113.02 70.83437
Headline and diluted headline earnings per share (cents) 58.74565 21.92791 167.90 79.92098
Net asset value per share (Rand) 10.93 10.91 0.18 10.79
Interim dividend per share (cents) 45.34446 35.96489 26.08 35.96489
Final dividend per share (cents) - - n/a 49.06666
DECLARATION OF DIVIDEND FOR THE SIX MONTHS ENDED 31 AUGUST 2021
The board of directors of Exemplar ("the Board") has approved an interim dividend of 45.34446 cents per share for the six months
ended 31 August 2021, which will be paid to shareholders in accordance with the timetable set out below:
Last date to trade cum dividend Tuesday, 23 November 2021
Shares trade ex-dividend Wednesday, 24 November 2021
Record date Friday, 26 November 2021
Payment date Monday, 29 November 2021
Share certificates may not be dematerialised or rematerialised between Wednesday, 24 November 2021 and Friday, 26 November 2021,
both days inclusive. The dividend will be transferred to dematerialised shareholders' Central Securities Depository Participant
("CSDP")/broker accounts on Monday, 29 November 2021. Certificated shareholders' dividend payments will be paid to certificated
shareholders' bank accounts on or about Monday, 29 November 2021.
In accordance with Exemplar's status as a REIT, shareholders are advised that the dividend meets the requirements of a "qualifying
distribution" for the purposes of section 25BB of the Income Tax Act, No. 58 of 1962 ("Income Tax Act"). The dividend on the shares will
be deemed to be a dividend, for South African tax purposes, in terms of section 25BB of the Income Tax Act.
The dividend received by or accrued to South African tax residents must be included in the gross income of such shareholders and will
not be exempt from income tax (in terms of the exclusion to the general dividend exemption, contained in paragraph (aa) of section
10(1)(k)(i) of the Income Tax Act) because it is a dividend distributed by a REIT. This dividend is, however, exempt from dividend
withholding tax in the hands of South African tax resident shareholders, provided that such shareholders provide the following forms to
their CSDP or broker, as the case may be, in respect of uncertificated shares, or the Company, in respect of certificated shares:
a) a declaration that the dividend is exempt from dividends tax; and
b) a written undertaking to inform the CSDP, broker or the Company, as the case may be, 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.
Shareholders are advised to contact their CSDP, broker or the Company, as the case may be, to arrange for the abovementioned
documents to be submitted prior to payment of the dividend, if such documents have not already been submitted.
Dividends received by non-resident shareholders will not be taxable as income and instead will be treated as an ordinary dividend which
is exempt from income tax in terms of the general dividend exemption in section 10(1)(k)(i) of the Income Tax Act. Any distribution
received by a non-resident from a REIT will be subject to dividend withholding tax at 20%, unless the rate is reduced in terms of
any applicable agreement for the avoidance of double taxation ("DTA") between South Africa and the country of residence of the
shareholder. Assuming dividend withholding tax will be withheld at a rate of 20%, the net dividend amount due to non-resident
shareholders is 36.27557 cents per share. A reduced dividend withholding rate in terms of the applicable DTA may only be relied on if
the non-resident shareholder has provided the following forms to their CSDP or broker, as the case may be, in respect of uncertificated
shares, or the Company, in respect of certificated shares:
a) declaration that the dividend is subject to a reduced rate as a result of the application of a DTA; and
b) a written undertaking to inform their CSDP, broker or the Company, as the case may be, should the circumstances affecting the
reduced rate 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.
Non-resident shareholders are advised to contact their CSDP, broker or the Company, as the case may be, to arrange for the
abovementioned documents to be submitted prior to payment of the dividend if such documents have not already been submitted,
if applicable.
Shares in issue at the date of declaration of the dividend: 332 290 686
Exemplar income tax reference number: 9727063175
SHORT-FORM ANNOUNCEMENT
This short-form announcement is the responsibility of the Board. It is a summary of the full announcement released on SENS on
5 November 2021 and does not contain all the details of the full announcement. Any investment decisions by investors and/or
shareholders should be based on consideration of the full announcement published on SENS and the issuer's website as a whole. It is
available for inspection at the registered office of the Company, the Company's website and the office of the sponsor, Java Capital at
no charge during normal business hours from Friday, 5 November 2021 to Monday, 15 November 2021. This short-form announcement
has not been audited or reviewed by Exemplar's external auditors.
The full announcement can be accessed using the following JSE link:
https://senspdf.jse.co.za/documents/2021/jse/isse/expe/HR2022.pdf
as well as via Exemplar's website:
https://www.exemplarreit.co.za/wp-content/uploads/Exemplar-Unaudited-Results-for-6-months-ended-31-Aug-2021.pdf.
By order of the Board
5 November 2021
Executive directors
Jason McCormick (CEO);
DA Church (CFO);
John McCormick (Executive Director)
Non-executive directors
FM Berkeley (Chairman);
PJ Katzenellenbogen
(Lead independent director);
GVC Azzopardi; N Mandindi; EP Maponya
Company Secretary: A Booysen BA(Hons) LLB LLM
Registered office: Sokatumi Estate
Cnr Lyttelton Road and Leyden Avenue
Clubview, Centurion, 0157
PO Box 12169, Clubview, 0014
Transfer Secretaries: Computershare
Investor Services Proprietary Limited
Rosebank Towers
15 Biermann Avenue, Rosebank,
Johannesburg, 2196
Private Bag X9000, Saxonwold, 2132
Auditor: BDO South Africa Incorporated
Wanderers Office Park
52 Corlett Drive
Illovo, 2196
+27 11 488 1700
Sponsor: Java Capital
6th Floor, 1 Park Lane, Wierda Valley
Sandton, 2196
+27 11 722 3050
Date: 05-11-2021 09:28:00
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