Deutsche Konsum REIT-AG (JSE:DKR) News - Dividend Declaration Announcement And Notice Of Dividend Currency Exchange Rate (South African Rand)

DEUTSCHE KONSUM REIT-AG
(Incorporated in the Federal Republic of Germany)
(Registration number HRB 13072)
FSE Share Code: A14KRD
JSE Share Code: DKR
ISIN: DE000A14KRD3
LEI: 529900QXC6TDASMCSU89
(“DKR” or “the Company”)


DIVIDEND DECLARATION ANNOUNCEMENT AND NOTICE OF DIVIDEND CURRENCY
EXCHANGE RATE (SOUTH AFRICAN RAND)


In respect of the year ending 30 September 2021 the management board and the supervisory
board of the Company have proposed a dividend distribution of Euro 0.40 per share for a total
amount of EUR 14.06 million, which is subject to shareholder approval at the next (virtual)
annual general meeting of the Company to be held on 10 March 2022.

In terms of § 58(4) sentence 2 AktG (German Stock Corporation Act), the entitlement to the
dividend is due on the third business day following shareholder approval of the dividend
resolution at the annual general meeting, accordingly (subject to shareholder approval) the
dividend payment will be made on Tuesday, 15 March 2022 to shareholders on the register
on the record date of Monday, 14 March 2022. In South Africa, the last day to trade will be
Wednesday, 9 March 2022 and the ex-dividend date will be Thursday, 10 March 2022.

The dividend will be paid in Euro to shareholders on the German register and Rand to
shareholders on the South African register. The currency exchange rate applicable for the
dividend payable in South African cents to shareholders on the South African register will be
announced on or prior to Wednesday, 9 March 2022.

Shares cannot be moved between the South African register and the German register between
Thursday, 10 March 2022 and Monday, 14 March 2022, both days inclusive. Shares may not
be dematerialised or rematerialised in South Africa between Thursday, 10 March 2022 and
Monday, 14 March 2022, both days inclusive.

The currency exchange rate applicable for the dividend payable in South African cents to
shareholders on the South African register is based on the exchange rate on 9 March 2022
and is set out below:

 Declared dividend              Exchange rate                  Dividend in South
                                                               African cents per share

 Euro 0.40 per share            16.6605                        666.42

The Company has a total of 35,155,938 shares in issue on the date of this announcement.
The dividend will be distributed by the Company (German tax registration number
046/100/02493) and is regarded as a foreign dividend for South African resident shareholders
on the JSE.

In accordance with German tax laws, DKR’s gross dividend distribution is subject to dividend
withholding tax (“German DWT”) at a rate of 25%, plus a solidarity surcharge equal to 5.5%
of the 25% German DWT (“Surcharge”), which equates to an effective rate of 26.375%.
In accordance with the double taxation agreement between Germany and South Africa
(“DTA”), upon application to the German Federal Central Tax Office, South African resident
shareholders on the JSE will be reimbursed 10% of the German DWT and the Surcharge
(“German Tax Reimbursement”), reducing the effective rate to 15%.

Accordingly, South African resident shareholders on the JSE who are exempt from South
African dividend withholding tax (“SA DWT”) will, after receiving the German Tax
Reimbursement, be subject to an effective dividend withholding tax rate of 15%. This will
equate to a gross dividend of 666.42 cents per share, a net dividend of 566.457 cents per
share if the German Tax Reimbursement is claimed and a net dividend of 490.65172 cents
per share if the German Tax Reimbursement is not claimed.

South African resident shareholders on the JSE who are not exempt from SA DWT will be
subject to South African dividend withholding tax at a rate of 20%, however such shareholders
will qualify for a 15% reduction in SA DWT. The ultimate result in such case is that the dividend
will be subject to the reduced German DWT rate of 15% and SA DWT rate of 5%. The SA
DWT rate of 5% will be applicable even if the German Tax Reimbursement is not claimed.
This will equate to a gross dividend of 666.42 cents per share, a net dividend of 533.136 cents
per share if the German Tax Reimbursement is claimed and a net dividend of 457.33072 cents
per share if the German Tax Reimbursement is not claimed.

DKR has a primary listing on the Prime Standard on the Frankfurt Stock Exchange and the
Berlin Stock Exchange and a secondary listing on the JSE.
Potsdam, 9 March 2022

JSE Sponsor
PSG Capital

Date: 09-03-2022 04:37:00
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