Dividends

PAYMENT OF DEFERRED CASH DIVIDEND
Shareholders are referred to the interim dividend for the year ended 30 June 2020 (“interim 2020 cash dividend”) of R70.978 million which was declared on 26 February 2020 (“declaration date”) and was due to be paid on 6 April 2020. Following the outbreak of COVID-19 and the potential impact of long-term trading restrictions on the group’s cash reserves, the board of directors of Spur Corporation Limited (“board”) advised shareholders on 30 March 2020 that payment of the dividend would be deferred until 5 October 2020. On 3 September 2020, the board advised shareholders that payment of the dividend would be further deferred. Shareholders were advised at the time of releasing interim results for the six months ended 31 December 2020 on 2 March 2021 that the board had determined it appropriate, in compliance with the Companies Act and the directors’ fiduciary duties, to defer the payment of the dividend until future cash flows could be predicted with a greater confidence level.

Shareholders are advised that the board has, on Wednesday, 22 September 2021, resolved to authorise the payment of the interim 2020 cash dividend of R70.978 million, which equated to 78.0 cents per share for each of the 90 966 932 shares in issue, subject to the applicable tax levied in terms of the Income Tax Act, Act 58 of 1962, as amended (“dividend withholding tax”).

The interim 2020 cash dividend was declared from income reserves. The dividend withholding tax is 20% and a net dividend of 62.4 cents per share will be paid to those shareholders who are not exempt from dividend withholding tax. The company’s income tax reference number is 9695015033. The company had 90 966 932 shares in issue at the declaration date and this remains unchanged at the date of publication of this report.

In accordance with the provisions of Strate, the electronic settlement and custody system used by the JSE, the
relevant dates for the dividend are as follows:

Event Date
Publication date Thursday, 23 September 2021
Last day to trade ‘cum dividend’ Tuesday, 19 October 2021
Shares commence trading ‘ex dividend’ Wednesday, 20 October 2021
Record date Friday, 22 October 2021
Payment date Monday, 25 October 2021

Those shareholders of the company who are recorded in the company’s register as at the record date will be entitled to the dividend. Share certificates may not be dematerialised or rematerialised between Wednesday, 20 October 2021 and Friday, 22 October 2021, both days inclusive.