Cash fraction applicable to the Scrip Dividend

RNS Number : 2165F

Sirius Real Estate Limited

11 July 2019

 

11 July 2019

Sirius Real Estate Limited

("Sirius Real Estate" or the "Company")

Cash fraction applicable to the Scrip Dividend

Shareholders of the Company ("Shareholders") are referred to the condensed consolidated financial results for the year ended 31 March 2019, published on RNS and SENS on 3 June 2019, in which the Company declared a final cash dividend with the alternative to elect to receive a scrip dividend ("Scrip Dividend Alternative"), as well as the announcement published on RNS and SENS on 10 June 2019, relating to the Scrip Dividend Alternative.

The attention of Shareholders is accordingly drawn to the following terms relating to the fractions applicable to the Scrip Dividend Alternative.

Shareholders on the UK Register

Where the operation of the Scrip Dividend Alternative would result in the Share Elector being entitled to less than one New Share (for example where that Share Elector held a small number of Ordinary Shares) no fraction of a New Share will be issued, and the relevant amount of Final Dividend will be retained for the benefit of the Company. 

Shareholders on the SA Register

No fractions of a New Share will be issued to Shareholders on the SA Register.

You cannot accumulate residual entitlements or receive a fraction of a New Share. Where you have made an election to participate in the Scrip Dividend Alternative, which would otherwise give rise to an entitlement to a fraction of a New Share, the number of New Shares to be received will be rounded down and any residual entitlement which is less than the price of one New Share (as calculated in accordance with paragraph 4 of the terms and conditions set out in the circular) will be paid to you in cash in Rand. The cash fractional payment was determined with reference to the volume weighted traded price on the JSE on, Wednesday, 10 July 2019 (being the date on which the Ordinary Shares began trading ex the cash dividend or scrip dividend) of R11.82425, discounted by 10% ("Fractional Reference Price"). Shareholders are accordingly advised that the Fractional Reference Price is R10.64182 (R11.82425 discounted by 10%). The cash fractional payment may be considered to be revenue or capital in nature and will depend on the nature of the pre-existing Ordinary Shares held by shareholders of the Company. The cash fractional payment is not regarded as a dividend for South African tax purposes and will not be subject to dividends tax as previously stated in the Scrip Circular. Shareholders are advised to seek their own tax advice from an independent tax adviser should they be in any doubt as to the tax treatment for them of any cash fractional payment.

Further Information

Terms used but not defined herein have the same meaning given to them as set out in the Scrip Dividend Alternative Circular ("Scrip Circular") dispatched on Monday, 10 June 2019.

The distribution of the Scrip Circular in certain jurisdictions (including the United States of America, Canada, Japan, New Zealand or Australia or their respective territories or possessions (subject to applicable exemptions)) other than the United Kingdom, South Africa and Guernsey may be restricted by law. Accordingly, the Scrip Circular may not be distributed or published in any jurisdiction except under circumstances that will result in compliance with any applicable laws and regulations. Persons into whose possession the Scrip Circular comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

For further information: Sirius Real Estate Andrew Coombs, CEO + Alistair Marks, CFO	49 (0)30 285010110
Tavistock Jeremy Carey James Verstringhe Charlotte Dale	[phone]

LEI: 213800NURUF5W8QSK566

JSE Sponsor

PSG Capital

 

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