NEW EUROPE PROPERTY INVESTMENTS PLC - Election to receive either a cash dividend or a return of capital: Finalisation announcement

2017-03-20 11:25:00

NEP 201703200015A
Election to receive either a cash dividend or a return of capital: Finalisation announcement

NEW EUROPE PROPERTY INVESTMENTS PLC
(Incorporated and registered in the Isle of Man with registered number 001211V)
(Registered as an external company with limited liability under the laws of South Africa,
registration number 2009/000025/10)
JSE share code: NEP BVB share code: NEP
ISIN: IM00B23XCH02
(“NEPI” or “the company”)


ELECTION TO RECEIVE EITHER A CASH DIVIDEND OR A RETURN OF CAPITAL:
FINALISATION ANNOUNCEMENT


NEPI shareholders are referred to the circular to NEPI shareholders and notice to NEPI shareholders in respect of an election to
receive either a cash dividend or a return of capital issued on 13 March 2017, and are advised as follows:

-   Shareholders on the South African register will receive their cash dividend in South African Rand converted from Euro at
    an exchange rate of EUR1.00 : ZAR13.64660. Accordingly, the cash dividend of 21.82 Euro cents per share will be equal
    to ZAR2.97769 per share.
-   The reference price is ZAR134.79008 (“reference price”), being a 7% discount to the five-day volume weighted average
    traded price (less distribution) of NEPI shares on the JSE as at Friday, 17 March 2017. For NEPI shares on the UK and
    Romanian registers, the reference price is EUR9.87719 (being the reference price of ZAR134.79008 converted to Euro at
    the Rand exchange rate of EUR1.00 : ZAR13.64660).
-   Shareholders electing to receive the return of capital will receive 2.20913 new NEPI shares for every 100 NEPI shares held
    by such shareholders on the record date of Friday, 31 March 2017, representing the ratio that the cash dividend bears to the
    reference price.

If no shareholders were to elect to receive the return of capital, the value of the dividends would amount to EUR 71 642 810.25.
Should all shareholders elect to receive the return of capital, the maximum total number of new NEPI shares to be issued by NEPI
pursuant to the return of capital will be 7 253 359.

The share capital of the company as at the date of this announcement is as follows:

                                                                                                                           ‘000 EUR
    Share capital
    Authorised
    600 000 000 ordinary shares of €0.01 each                                                                                 6 000
    Issued share capital
    328 335 519 ordinary shares of €0.01 each                                                                                 3 283
    Share premium                                                                                                         1 440 889
    Total                                                                                                                 1 444 172

Should all eligible NEPI shareholders elect to receive the return of capital, the share capital of NEPI after issue of the new NEPI
shares will be as follows:

                                                                                                                           ‘000 EUR
    Share capital
    Authorised
    600 000 000 ordinary shares of €0.01 each                                                                                 6 000
    Issued share capital
    335 588 878 ordinary shares of €0.01 each                                                                                 3 356
    Share premium                                                                                                         1 440 816
    Total                                                                                                                 1 444 172

The allocation of new NEPI shares will be such that shareholders who elect to receive the return of capital will not be allocated a
fraction of a new NEPI share and as such any entitlement to receive a fraction of a new NEPI share which:

-   is less than one-half of a new NEPI share, will be rounded down to the nearest whole number; and
-   is equal to or greater than one-half of a new NEPI share but less than a whole new NEPI share, will be rounded up to the
    nearest whole number.

Dividend tax (and therefore the information provided in this paragraph) is only of direct application to shareholders on the South
African share register. The gross local dividend amount is ZAR2.97769 per share for shareholders exempt from paying South
African dividends tax. The net local divided amount is ZAR2.38215 per share for shareholders liable to pay the dividends tax rate
of 20%. There is no withholding tax payable in the Isle of Man.

For further information please contact:

New Europe Property Investments plc
Mirela Covasa                                                                 +40 21 232 13 98

JSE sponsor
Java Capital                                                                  +27 11 722 3050

BVB advisor
SSIF Intercapital Invest SA
Razvan Pasol                                                                  +40 21 222 8731

20 March 2017

Date: 20/03/2017 11:25:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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