Exhibit 99.1
SINGAPORE (August 19, 2022) Karooooo Limited (“Karooooo”) announces final details on the Interim Cash Dividend declared on April 27, 2022.
Interim Dividend – Finalization Notice
Further to the Company’s announcement on 27 April 2022, shareholders are reminded that the relevant dates relating to the payment of the interim cash dividend are as follows:
| | | NASDAQ | | JSE |
| | | | | |
| Last date to trade cum dividend | | Wednesday, August 31, 2022 | | Tuesday, August 30, 2022 |
| Shares commence trading Ex-dividend | | Thursday, September 01, 2022 | | Wednesday, August 31, 2022 |
| Record date | | Friday, September 02, 2022 | | Friday, September 02, 2022 |
| Dividend payment date | | Monday, September 12, 2022 | | Monday, September 12, 2022 |
Shareholders registered on the South African section of the share register will not be allowed to dematerialize or rematerialize their shareholdings between Wednesday, 31 August 2022 and Friday, 02 September 2022, both dates inclusive, and transfers between the NASDAQ and South African register will not be permitted between Friday, 19 August 2022 and Friday 02, September 2022, both days inclusive.
Additional information for South African resident shareholders of Karooooo Ltd.:
Shareholders registered on the South African section of the register are advised that the distribution of USD 0.60 per ordinary shares will be converted to Rands using the USD/ZAR spot rate from Oanda Currency Converter (www.oanda.com), as determined on Friday, 19 August 2022 at 14h56 Singaporean time, of 16.75500. This will equate to a gross dividend of ZAR 10.053 per share.
Karooooo Ltd. tax reference number is 201817157Z.
The issued ordinary share capital of Karooooo Ltd. is 30,951,106 ordinary shares.
The dividend will be distributed by the Company from distributable profit reserves and is regarded as a “foreign dividend” (as defined in the South African Income Tax Act No. 58 of 1962) for South African resident shareholders holding shares on the South African register.
Singapore does not impose withholding tax on dividends.
Dividends declared and paid by the Company to South African resident shareholders holding shares on the South African register are subject to South African dividend tax (“SA DWT”) of 20% (subject to any applicable exemptions that may apply). The net dividend to South African resident shareholders who are not exempt from SA Tax, equates to ZAR 8.0424 per share.
Dividends will be paid net of SA DWT, to be withheld and paid to the South African Revenue Service. Such tax must be withheld unless beneficial owners of the dividend have provided the necessary documented proof to the regulated intermediary (being a broker, CSD participant, nominee company or the Company’s transfer secretaries, Computershare Investor Services (Pty) Ltd., Private Bag x9000, Saxonwold, 2132, South Africa) that they are exempt therefrom, or entitled to a reduced rate, as a result of any relevant double taxation agreement between South Africa and the country of tax domicile of such owner.
Shareholders are encouraged to consult their professional tax advisers should they be in any doubt as to the appropriate action to take.
About Karooooo
Karooooo, headquartered in Singapore, is a leading global provider of an on-the-ground operational IoT SaaS cloud that maximizes the value of transportation, operations and workflow data by providing insightful real-time data analytics to over 1,590,000 connected vehicles and equipment. Karooooo assists thousands of enterprise customers in digitally transforming their on-the-ground operations. The Cartrack (wholly owned by Karooooo) SaaS platform provides customers with differentiated insights and data analytics to optimize their business operations and workforce, increase efficiency, decrease costs, improve safety, monitor environmental impact, assist with regulatory compliance and manage risk. For more information, visit www.karooooo.com.
| Investor Relations Contact | IR@karooooo.com |
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| Media Contact | media@karooooo.com |
