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Correction of the Apportionment Ratio for South African Income Tax Purposes in Respect of the Novus Unbundling

Correction of the Apportionment Ratio for South African Income Tax Purposes in Respect of the Novus Unbundling Naspers Limited
(Incorporated in the Republic of South Africa)
Registration number: 1925/001431/06
Share code: NPN
ISIN: ZAE000015889
(“Naspers”)

Naspers “N” shareholders (“Shareholders”) are referred to the announcement released on SENS on Thursday, 21 September 2017 regarding the apportionment of the tax cost for South African income tax purposes in respect of the unbundling of Novus Holdings Limited (“Novus”) shares (“Unbundling”).
Shareholders are hereby advised that the revised apportionment ratio is as follows, 99.93372% to a Naspers “N” share held after the Unbundling and 0.06628% to an unbundled Novus share. (“Apportionment Ratios”).
The Apportionment Ratios are based on the closing price of R2 972.44 per Naspers “N” share and R5.70 per Novus share on Wednesday, 20 September 2017.
THIS ANNOUNCEMENT IS NOT INTENDED TO BE A COMPLETE ANALYSIS OF THE TAX IMPLICATIONS OF THE UNBUNDLING. IT IS NOT INTENDED TO BE, NOR SHOULD IT BE CONSIDERED TO BE, LEGAL OR TAX ADVICE. NASPERS SHAREHOLDERS ARE ADVISED TO CONSULT THEIR OWN PROFESSIONAL TAX ADVISORS ON THE TAXATION CONSEQUENCES OF THE UNBUNDLING IN BOTH SOUTH AFRICA AND THEIR JURISDICTION OF RESIDENCE AND THE CALCULATION OF THEIR COSTS FOR TAXATION PURPOSES.
Cape Town
 
29 September 2017
 
Financial advisor and sponsor
Investec Bank Limited
 
Legal advisors
Glyn Marais Inc.
Werksmans Inc.
 
Tax advisors
PricewaterhouseCoopers Tax Services Proprietary Limited

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