Posting of Scrip Circular and Reference Price

RNS Number : 2510H

Sirius Real Estate Limited

27 November 2015

 



Sirius Real Estate Limited

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

Posting of Scrip Dividend Alternative Circular and

Scrip Dividend Reference Price and Conversion Rate

Sirius Real Estate is pleased to confirm that the Scrip Dividend Alternative Circular and Form of Election were posted to shareholders on 24 November 2015 and are available on the Company's website: www.sirius-real-estate.com.

An overview timetable of events relating to the Scrip Dividend Alternative is set out below:

For shareholders on the UK Share Register

Announcement of Dividend	23 November 2015
Despatch the Scrip Dividend Alternative Circular and Form of Election	24 November 2015
Announcement of Reference Price for the Scrip Dividend Shares released on RNS (this announcement)	27 November 2015
Last day to trade in order to be eligible for the cash dividend or alternatively the scrip dividend	16 December 2015
Shares commence trading ex the cash dividend or scrip dividend	17 December 2015
Record Date for UK Shareholders	18 December 2015
Latest time for receipt of Proxy Forms	11.00 a.m. (UK time) on 15 December 2015
Extraordinary General Meeting	11.00 a.m. (UK time) on 17 December 2015
Deadline by which election to receive the Scrip Dividend Shares must have been received by the Registrars (Election Return Date)	5.00 p.m. (UK time) on 6 January 2016
Announcement on RNS of the number of New Shares issued	14 January 2016
Despatch Interim Dividend cheques and tax vouchers	19 January 2016
Despatch Scrip Dividend Share certificates	19 January 2016
CREST accounts credited and/or updated with the Interim Dividend payment in cash and/or Scrip Dividend Shares	20 January 2016
Admission of Scrip Dividend Shares to trading on AIM	20 January 2016
Interim Dividend Payment Date	20 January 2016

For shareholders on the South African Share Register

Announcement of Dividend	23 November 2015
Despatch the Scrip Dividend Alternative Circular and Form of Election	24 November 2015
Announcement of Reference Price for the Scrip Dividend Shares and the Euro to Rand Conversion Rate released on SENS (this announcement)	27 November 2015
Last day to trade in order to be eligible for the cash dividend or alternatively the scrip dividend	10 December 2015
Shares commence trading ex the cash dividend or scrip dividend	11 December 2015
Record Date for SA Shareholders	18 December 2015
Deadline by which election to receive the Scrip Dividend Shares must have been received by the Transfer Secretaries (Election Return Date)	12.00 noon (South African time) on 18 December 2015
Latest time for receipt of Proxy Forms	1.00 p.m. (South African time) on 15 December 2015
Extraordinary General Meeting	1.00 p.m. (South African time) on 17 December 2015
Announcement on SENS of the number of New Shares issued	14 January 2016
CSDP/broker accounts credited and/or updated with the Interim Dividend payment in cash and/or Scrip Dividend Shares	20 January 2016
Despatch Scrip Dividend Share certificates, Interim Dividend cheques and tax vouchers	20 January 2016
Admission of Scrip Dividend Shares to trading on JSE	20 January 2016
Interim Dividend Payment Date	20 January 2016

As set out in the Scrip Dividend Alternative Circular, Sirius Real Estate today announces the Scrip Dividend Reference Prices and the Conversion Rate for the purposes of converting the Interim Dividend declared in connection with the six months ended 30 September 2015 from Euros into Rand (for Shareholders on the SA Share Register).

The Scrip Dividend Reference Prices are as follows:

Shareholders on the UK Share Register:                                51.78 cents (Euro)

Shareholders on the SA Share Register:                                794.22888 cents (Rand)

The number of New Shares, which Shareholders electing to take the Scrip Dividend Alternative will therefore receive, are as follows:

Shareholders on the UK Share Register:                           1 New Share for every 56.28261 Ordinary Shares held

Shareholders on the SA Share Register:                            1 New Share for every 56.84790 Ordinary Shares held

The Conversion Rate

The Conversion Rate (which will also be the Euro to Rand Conversion Rate in the Scrip Dividend Alternative Circular) for the purposes of calculating the Interim Dividend declared in connection with the six months ended 30 September 2015 payable to Shareholders on the SA Share Register will be 15.186 Rand to 1 Euro.

On this basis, Shareholders on the SA Share Register will receive a dividend of 13.97112 cents (Rand) per Ordinary Share, which they may take in cash or in New Shares by electing to do so by way of the Scrip Dividend Alternative.

In accordance with the requirements of the JSE, the Company confirms that any cash dividend received by SA Shareholders who are not exempt from dividend withholding tax, is expected to be 11.87545 cents (Rand) per Ordinary Share.  As set out in the Scrip Dividend Alternative Circular, South African Shareholders who have elected to receive the dividend in scrip form should not be subject to income tax on receipt of New Shares or dividend withholding tax.

Enquiries:

Sirius Real Estate                         

Andrew Coombs, CEO                                                                                    [phone]

Alistair Marks, CFO

Peel Hunt

Capel Irwin                                                                                                         [phone]

Hugh Preston

PSG Capital

David Tosi                                                                                                           [phone]

Willie Honeyball

Canaccord

Bruce Garrow                                                                                                    [phone]

Chris Connors

Mark Whitmore

Novella                                     

Tim Robertson                                                                                                  [phone]

Ben Heath        

 

END

 

 

MSCFELFIWFISESF