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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  Prosus N.V.    PRX   NL0013654783

PROSUS N.V.

(PRX)
  Report
Real-time Estimate Quote. Real-time Estimate Tradegate - 12/01 04:45:45 am
92.49 EUR   +1.82%
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SENS: Clarification on the dividend

10/16/2020 | 09:50am EST

PROSUS N.V.
(previously Myriad International Holdings N.V)
(Incorporated in the Netherlands)
(Legal Entity Identifier: 635400Z5LQ5F9OLVT688)
ISIN: NL0013654783
Euronext Amsterdam and JSE Share code: PRX
('Prosus' or the 'Company')

CLARIFICATION REGARDING THE PROCESSING OF DIVIDENDS IN SOUTH AFRICA

Further to the announcement on 18 August 2020, the EUR/ZAR exchange rate was 20,7111 as at 18 August 2020. Shareholders holding their ordinary shares N on the South African register will receive a distribution of ZAR228 cents per ordinary share N. The distribution to the holders of ordinary shares N has been rounded up to the nearest cent due to the complexities of the repaid capital. Shareholders of ordinary shares A1 will receive a dividend of ZAR12,46808 cents per ordinary share A1.
Shareholders electing to receive a dividend will receive a dividend declared from retained earnings. Dividends will be subject to Dutch dividend withholding tax at a rate of 15% yielding a net dividend of ZAR193,8 cents per ordinary share N and ZAR10,59786 cents per ordinary share A1 to those shareholders not entitled to an exemption or relief from Dutch dividend tax.

In addition to the Dutch dividend tax, dividends paid in respect of ordinary N shares on the South African register will also be subject to South African dividend tax at a rate of up to 20% in relation to shareholders not entitled to an exemption from South African dividend tax. The amount of additional South African dividend tax payable will be calculated by deducting from the 20% South African dividend tax otherwise due, a rebate equal to the Dutch dividend withholdings tax lawfully payable in respect of the dividend (without any right of recovery) i.e. the amount of Dutch dividend tax due after taking into account any applicable exemptions or tax treaty relief that may reduce the Dutch dividend tax payable. Those shareholders, unless exempt from paying Dutch and South African dividend tax, or entitled to a reduced Dutch dividend withholding tax rate in terms of an applicable tax treaty, will be subject to a maximum of 20% aggregate dividend tax.

South African corporates who own 5% or more of the shares in Prosus may qualify for a Dutch domestic exemption from Dutch dividend withholding tax. Those shareholders who qualify for domestic relief have until 8 December 2020 to provide evidence to ABN Amro that their dividend qualifies for domestic relief from Dutch dividend withholding tax.

The treaty between South Africa and the Netherlands notes that the Dutch dividend withholding tax may get reduced from 15% to 10%. This reduction applies equally to corporates holding less than 10% of the capital of Prosus, individuals and other persons who qualify as residents of South Africa for treaty purposes. If shareholders, or their tax advisors, conclude that they are entitled to benefits arising from the tax treaty, such shareholders should follow the process prescribed by the tax treaty to claim relief.

Please note that no Dutch dividend withholding tax will be withheld on repayments of share capital. There will also be no South African dividend tax on repayments of share capital.

Amsterdam, the Netherlands
16 October 2020

JSE sponsor to Prosus:
Investec Bank Limited

Euronext listing agent
ING Bank N.V.

Euronext paying agent
ABN AMRO Bank N.V.

Enquiries:
Investor Enquiries
Eoin Ryan, Head of Investor Relations
+1 347 210 4305

Media Enquiries
Sarah Ryan, International Media Relations
+31 6 29 72 10 38

About Prosus
Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities. The group is focused on building meaningful businesses in the online classifieds, payments and fintech, and food delivery sectors in markets including India, Russia and Brazil. Through its ventures team investments, in areas including edtech and health, Prosus actively seeks new opportunities to partner with exceptional entrepreneurs who are using technology to address big societal needs .Every day, millions of people use the products and services of companies that Prosus has invested in, acquired or built, including Avito, Brainly, BYJU'S, Codecademy, eMAG, Honor, iFood, LazyPay, letgo, Meesho, Movile, OLX, PayU, Red Dot Payment, Remitly, SimilarWeb, SoloLearn, Swiggy, and Udemy.

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Disclaimer

Prosus NV published this content on 16 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 October 2020 13:49:03 UTC


© Publicnow 2020
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Financials (USD)
Sales 2021 4 281 M - -
Net income 2021 5 101 M - -
Net Debt 2021 341 M - -
P/E ratio 2021 35,2x
Yield 2021 0,04%
Capitalization 177 B 177 B -
EV / Sales 2021 41,3x
EV / Sales 2022 31,8x
Nbr of Employees 20 000
Free-Float 27,0%
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Technical analysis trends PROSUS N.V.
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 17
Average target price 113,01 €
Last Close Price 90,84 €
Spread / Highest target 48,6%
Spread / Average Target 24,4%
Spread / Lowest Target -8,63%
EPS Revisions
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NameTitle
Robert van Dijk Chief Executive Officer & Executive Director
Patrick Luke Kolek Chief Operating Officer
Vasileios Sgourdos Financial Director & Executive Director
Jacobus Petrus Bekker Non-Independent Non-Executive Director
Hendrik Jacobus du Toit Lead Independent Non-Executive Director
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