CURRENCY CONVERSION - STERLING AND RAND
26 July 2012
In our results announcement for the year ended 31 March 2012, published on Thursday, 24 May 2012, SABMiller plc announced that the exchange rates to be used to determine the Sterling and Rand equivalent of the final dividend of 69.5 US cents per share would be calculated using the exchange rates prevailing on Wednesday, 25 July 2012.
The rate of exchange determined on Wednesday, 25 July 2012 for converting to Sterling is GBP:US$ = 1.550211 resulting in an equivalent final dividend of 44.8326 UK pence per share.
The rate of exchange determined on Wednesday, 25 July 2012 for converting to South African Rand is US$:ZAR = 8.477954 resulting in an equivalent final dividend of 589.21780 SA cents per share.
Since the introduction on 1 April 2012 of a new dividend withholding tax in South Africa, the JSE Listings Requirements require disclosure of additional information in relation to any dividend payments. Shareholders registered on the Johannesburg register are therefore advised that the new dividend withholding tax will be withheld from the gross final dividend amount of 589.21780 SA cents per share at a rate of 15%, unless a shareholder qualifies for an exemption; shareholders registered on the Johannesburg register who do not qualify for an exemption will therefore receive a net dividend of 500.83513 SA cents per share. The company, as a non‑resident of South Africa, was not subject to the secondary tax on companies (STC) applicable before 1 April 2012, and accordingly, no STC credits are available for set-off against the dividend withholding tax liability on the final net dividend amount. The dividend is payable in cash as a 'Dividend' (as defined in the South African Income Tax Act, 58 of 1962, as amended) by way of a reduction of income reserves. The dividend withholding tax and the information contained in this paragraph is only of direct application to shareholders registered on the Johannesburg register, who should direct any questions about the application of the new dividend withholding tax to Computershare Investor Services (Pty) Limited, Tel: +27 11 373-0004.
The dividend will be payable on Friday, 17 August 2012 to all shareholders registered on the London and Johannesburg registers on Friday, 10 August 2012. The ex-dividend trading dates will be Wednesday, 8 August 2012 on the London Stock Exchange and Friday, 3 August 2012 on the JSE Limited.
Shareholders will be asked to approve this proposal at the annual general meeting scheduled for 11.00am today, Thursday, 26 July 2012.
Until the close of business on Friday, 10 August 2012, no transfers between the London and Johannesburg registers will be permitted, and from Friday, 3 August 2012 until Friday, 10 August 2012, no shares may be dematerialised or rematerialised, both days inclusive.
General Counsel & Group Company Secretary