IPO Sunstone Capital Limited UB Shares

Details of the offer

Who is Sunstone Capital?

Sunstone is an innovative section 12J investment fund that offers investors an opportunity to earn stable and dependable dividends. This is done by purchasing operating assets and renting them for fixed monthly amounts, building a low risk, diversified portfolio boasting a full deployment of capital.

What are the Sunstone Capital Limited ‘’UB’’ Ordinary shares? 

By purchasing “UB” ordinary shares, investors will have exposure to vehicles operating on FlexClub earning rental income over 36 months before the vehicles are purchased by the Uber drivers who are renting them. Vehicles are either sold to Uber drivers at preferential prices or disposed of in the second-hand vehicle market. 

Who is FlexClub?

FlexClub is a car subscription platform that is unlocking access to cars for members who want the flexibility to own a car if and when it suits them. Our first product is designed specifically for ride-hailing drivers earning a living on platforms like Uber. We source cars from vehicle partners looking to earn passive income from their fleet, renting their cars out to us so we can serve members looking for a new way to own a car.

What is Section 12J?

Section 12J refers to a section in the South African Income Tax Act.  Instituted in 2009 it is a tax incentive offers a 100% tax deduction in order to encourage SA taxpayers to make local equity investments in order to ignite growth in the economy. All 12J fund must be public companies and be an authorised FSP and be registered and approved by SARS.

Additional information on Section 12J

  • Investments must be held for at least 5 years to ensure the tax benefit remains permanent.
  • While the investor receives a tax benefit for the initial investment in the fund, all future earnings are still taxable.
  • Section 12J was introduced to promote equity investments into key sectors that stimulate the South African economy.
  • The asset class is experiencing exponential growth year-on-year and is now a respected asset class.
  • For individuals/trusts and corporates, tax-deductible investments are limited to R2.5 million and R5 million respectively.

 

 

 

 

 

   

Important dates

Opening date of offer

09h00 on Friday, 15 November 2019

Closing date of offer

23h59 on Thursday, 27 February 2020

 

 

   

 

 

 

   

It is important to note that if you subscribe for this offer, EasyEquities will remove the subscription amount from the Free Cash in your EasyEquities ZAR account and hold this amount for safekeeping in the bank account of the FWT Nominees until the closing date of the offer. Please note that the subscription amount will not earn interest from the date on which it is removed from the Free Cash your EasyEquities ZAR account. Please bear this in mind when subscribing for the offer in advance of the closing date of the offer.

 

Important notes:

The value of the shares applying for

* By clicking on the apply button you confirm that you've read, understood and agree to the terms of the offer and/or prospectus listed on this page.