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Unaudited interim results for
the six months ended
28 February
2023
Salient features
Distributable Distributable
Rental income Like-for-like income after tax income per share Dividend per share
(R’million) rental growth (R'million) (cents) (cents)
974.2 4.1% 234.5 88.1 60.0
(28 February 2022: (28 February 2022: (28 February 2022: (28 February 2022: (28 February 2022:
944.4) 1.2%) 211.8) 79.6) 50.0)
+3.2% +2.9% +10.7% +10.7% +20.0%
This short form announcement is the responsibility of the directors. This short form announcement is only a summary of the information in the full announcement and
does not contain full or complete details.
Copies of the full announcement may be requested at the company’s registered office (elizeg@octodec.co.za) or the office of the sponsor (sponsor@javacapital.co.za),
at no charge, during office hours Monday to Friday. Any investment decisions made by shareholders should be based on a consideration of the full announcement,
published on 16 May 2023, which can be downloaded from
https://senspdf.jse.co.za/documents/2023/JSE/isse/OCT/HY2023.pdf
The full announcement is also available on the Octodec Investments Limited website at
https://octodec.co.za/wp-content/uploads/2023/05/Interim-results-HY2023.pdf
Results both in the form prescribed by the Commissioner for the South African Revenue
Service. Shareholders are advised to contact their CSDP, broker or the
% 28 February 28 February company, as the case may be, to arrange for the abovementioned documents
change 2023 2022 to be submitted prior to payment of the distribution, if such documents have not
already been submitted.
Revenue (R’000) 2.3 961 099 939 699 • dividends received by non-resident Octodec shareholders will not be taxable as
Basic and diluted earnings per share (cents) 50.5 135.3 89.9 income and instead will be treated as ordinary dividends, but which are exempt
Headline and diluted headline earnings per in terms of the usual dividend exemptions per section 10(1)(k) of the Income Tax
share (cents) (29.1) 85.4 120.4 Act. It should be noted that dividends received by non-residents are subject to
Distributable earnings per share (cents) 10.7 88.1 79.6 dividends withholding tax at a rate of 20%, unless the rate is reduced in terms
Distribution per share (cents) 20.0 60.0 50.0 of any applicable agreement for the avoidance of double taxation (DTA) between
South Africa and the country of residence of the shareholder. Assuming
Net asset value per share (Rand) 3.9 24.0 23.1 dividends withholding tax will be withheld at a rate of 20%, the net distribution
amount due to non-resident shareholders is 48.00000 cents per share. A
Dividends reduced dividend withholding rate in terms of the applicable DTA may only be
relied upon if the non-resident holder has provided the following forms to their
The board of Octodec has declared a cash dividend of 60.00000 cents per share for the
CSDP or broker, as the case may be, in respect of uncertificated shares, or the
six months ended 28 February 2023, payable out of the company’s distributable income.
company, in respect of certificated shares:
The salient dates relating to the final dividend are as follows: 2023
– a declaration that the dividend is subject to a reduced rate as a result of the
Last day to trade cum dividend Tuesday, 30 May
application of a DTA; and
Shares trade ex dividend Wednesday, 31 May
– a written undertaking to inform their CSDP, broker or the company, as the
Record date Friday, 2 June
case may be, should the circumstances affecting the reduced rate change or
Payment date Monday, 5 June
the beneficial owner cease to be the beneficial owner;
Share certificates may not be dematerialised or rematerialised between Wednesday,
both in the form prescribed by the Commissioner for the South African Revenue
31 May 2023 and Friday, 2 June 2023, both days inclusive.
Service. Non-resident holders are advised to contact their CSDP, broker or the
In accordance with Octodec’s status as a REIT, shareholders are advised that the company, as the case may be, to arrange for the abovementioned documents
interim dividend of 60.00000 cents per share meets the requirements of a “qualifying to be submitted prior to payment of the distribution if such documents have not
distribution” for the purposes of section 25BB of the Income Tax Act, No. 58 of 1962 already been submitted, if applicable.
(the Income Tax Act) with the result that:
Shareholders are further advised that the issued capital of Octodec at the date
• dividends received by South African resident Octodec shareholders must be of declaration of the final dividend is 266 197 535 shares of no par value, and
included in the gross income of such shareholders (as a non-exempt dividend Octodec’s tax reference number is 9925/033/71/5.
in terms of section 10(1)(k)(i)(aa) of the Income Tax Act), with the effect that the
dividends are taxable as income in the hands of the Octodec shareholder. These
dividends are, however, exempt from dividends withholding tax, provided that the
Prospects
South African resident shareholders provided the following forms to their Central Given the current weak economic environment and an uncertain political climate,
Securities Depository Participant (CSDP) or broker, as the case may be, in respect of the board will, at this stage, not be providing any guidance on distributable income
uncertificated shares, or the company, in respect of certificated shares: and dividends for the second half of FY2023.
– a declaration that the distribution is exempt from dividends tax; and
– a written undertaking to inform the CSDP, broker or the company, as the case may Sharon Wapnick Jeffrey Wapnick
be, should the circumstances affecting the exemption change or the beneficial Chairman Managing director
owner cease to be the beneficial owner; 16 May 2023
OCTODEC INVESTMENTS LIMITED Group company secretary Investor relations
"Octodec" or the "company" Elize Greeff Instinctif Partners
Incorporated in the Republic of South Africa CPA House, 101 Du Toit Street, Tshwane 0002 Contact person: Bryan Silke
Registration number: 1956/002868/06 Tel: 012 357 1564, e-mail: elizeg@octodec.co.za 2nd Floor, Oxford Park, 8 Parks Boulevard, Dunkeld,
JSE share code: OCT, ISIN: ZAE000192258 Johannesburg
(Approved as a REIT by the JSE) Sponsor Tel: 011 447 3030, e-mail: investorrelations@octodec.co.za
Registered address Java Capital
Auditors
Contact person: Jean Williams
CPA House, 101 Du Toit Street, Tshwane 0002 Ernst & Young Inc.
Tel: 012 319 8781, e-mail: info@octodec.co.za 6th Floor, 1 Park Lane, Wierda Valley, Sandton 2196
PO Box 522606, Saxonwold 2132 Contact person: Gail Moshoeshoe
Directors: S Wapnick (Chairman)1, JP Wapnick (Managing 102 Rivonia Road, Sandton
Tel: 011 722 3061, e-mail: sponsor@javacapital.co.za Private Bag X14, Sandton 2146
Director)2, A Vieira (Financial Director)2, RWR Buchholz4,
DP Cohen3, NC Mabunda4, EMS Mojapelo4, MZ Pollack1, Transfer secretaries Tel: 011 502 0601, e-mail: gail.moshoeshoe@za.ey.com
PJ Strydom4, LP van Breda4 Computershare Investor Services (Pty) Ltd Date of publication
1
Non-executive director Contact person: Leon Naidoo 16 May 2023
# 16700
2
Executive director Rosebank Towers, 15 Biermann Avenue, Rosebank 2196
www.octodec.co.za
3
Lead independent director Private Bag X9000, Saxonwold 2132
4
Independent non-executive director Tel: 011 370 5000, e-mail: leon.naidoo@computershare.co.za
