Grindrod Shipping Holdings Ltd. Announces Declaration and Finalisation Announcement in Respect of the Selective Capital Reduction and the Cash Distribution

Core Viewpoint - Grindrod Shipping Holdings Ltd. has received approval from the High Court of Singapore for a Selective Capital Reduction, allowing for a cash distribution of US$14.25 per participating share to eligible shareholders [2][11]. Group 1: Effective Date and Trading Suspension - The Effective Date for the Selective Capital Reduction is set for August 16, 2024, with trading on Nasdaq suspended from August 15, 2024 [3][14]. - Trading of shares on the Johannesburg Stock Exchange (JSE) will be suspended starting August 16, 2024 [4]. Group 2: Cash Distribution Details - Shareholders on Nasdaq as of the Effective Date will receive a cash distribution of US$14.25 per share [3]. - For shareholders on the JSE, the cash distribution will be converted to South African Rand (ZAR) at an exchange rate of USD 1: ZAR 18.11500, equating to approximately 25,813.875 South African cents per share [15][19]. Group 3: Important Dates - Key dates include the last day of trading on Nasdaq and JSE, the Effective Date of the Selective Capital Reduction, and the payment date for the cash distribution, all occurring in August 2024 [5][18]. - The expected delisting from NASDAQ is scheduled for August 26, 2024, with the final delisting from JSE on August 30, 2024 [6][18]. Group 4: Tax Considerations - The cash distribution is classified as a "capital distribution" and is not subject to withholding tax in Singapore [19]. - South African tax resident shareholders should consult their tax advisors regarding the implications of the capital distribution, which may affect their base cost for capital gains tax purposes [19].