An interim cash dividend per ordinary share (ISIN GB00B62G9D36) of 0.8 pence, was paid on Monday 19 September 2022 for shareholders who hold their shares on the South Africa register, and on Tuesday 20 September 2022 for shareholders who hold their shares on the UK register.

The change to the UK dividend payment date was as a result of the the UK bank holiday announced for Her Majesty Queen Elizabeth II’s State Funeral. 

The following were the salient dates for the payment of the interim dividend:

• Tuesday, 2 August 2022 -  Interim dividend announced
• Monday, 15 August 2022 -  Sterling/Rand exchange rate struck
• Tuesday, 16 August 2022 -  Sterling/Rand exchange rate and dividend amount in Rand announced
• Wednesday, 24 August 2022 -  Ordinary shares listed ex-dividend on the JSE, Johannesburg
• Thursday, 25 August 2022 -  Ordinary shares listed ex-dividend on the London Stock Exchange
• Friday, 26 August 2022 -  Record date for 2022 interim dividend in London and Johannesburg
• Monday, 19 September 2022 -  Dividend payment date for shareholders on the South Africa Register
• Tuesday, 20 September 2022 - Dividend payment date for shareholders on the UK register

South African shareholders should note that, in accordance with the requirements of Strate, the last day to trade cum-dividend was Tuesday 23 August 2022 and that no dematerialisation of shares was possible from Wednesday 24 August 2022 to Friday 26 August 2022 inclusive. No transfers between the UK and South Africa registers could take place from 24 August 2022 to 26 August 2022 inclusive. 

The interim dividend was paid wholly as a PID. There was no non-PID element of the interim dividend. As such, the entire interim dividend will be subject to deduction of a 20 per cent UK withholding tax unless exemptions apply.

Information for shareholders

The information below is included only as a general guide to taxation for shareholders based on Capco's understanding of the law and the practice currently in force. Any shareholder who is in any doubt as to their tax position should seek independent professional advice.

UK shareholders - PIDs

Certain categories of shareholders may be eligible for exemption from the 20 per cent UK withholding tax and may register to receive their dividends on a gross basis. Further information, including the required forms, is available here, or on request from our UK registrars, Link Group, whose contact details are available here . Validly completed forms must be received by Link Group no later than the dividend Record Date, as advised; otherwise the dividend will be paid after deduction of tax

South African shareholders

The interim dividend declared by the Company is a foreign payment and the funds are sourced from the UK.

PIDs: South African shareholders may apply to HMRC after payment of the PID interim dividend for a refund of the difference between the 20 per cent UK withholding tax and the UK/South African double taxation treaty rate of 15 per cent.

The PID interim dividend will be exempt from income tax but will constitute a dividend for Dividends Tax purposes, as it will be declared in respect of a share listed on the exchange operated by the JSE. SA Dividends Tax will therefore be withheld from the PID interim dividend at a rate of 20 per cent, unless a shareholder qualifies for an exemption and the prescribed requirements for effecting the exemption are in place by the requisite date. Certain shareholders may also qualify for a reduction of SA Dividends Tax liability to 5 per cent, (being the difference between the SA dividends tax rate and the effective UK withholding tax rate of 15 per cent) if the prescribed requirements for effecting the reduction are in place by the requisite date.

Non-PID: There is no non-PID element of the interim dividend. 

Other overseas shareholders:

Other non-UK shareholders may be able to make claims for a refund of UK withholding tax deducted pursuant to the application of a relevant double taxation convention. UK withholding tax refunds can only be claimed from HMRC, the UK tax authority.

Additional information on PIDs can be found here.