Scrip Dividend Reference Price and Conversion Rate

RNS Number : 7304O

Sirius Real Estate Limited

01 June 2015

 

Sirius Real Estate Limited

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

 Scrip Dividend Reference Price and Conversion Rate

As set out in the Scrip Dividend Alternative Circular posted to shareholders on 29 May 2015, Sirius Real Estate today announces the Scrip Dividend Reference Prices and the Conversion Rate for the purposes of converting the final Dividend declared in connection with the year ended 31 March 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:               48.685 cents (Euro)

Shareholders on the SA Share Register:                647.56225 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 57.95833 ordinary shares held

Shareholders on the SA Share Register:                1 New Share for every 57.88137 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 final Dividend declared in connection with the year ended 31 March 2015 payable to Shareholders on the SA Share Register will be 13.31875 ZAR to 1 EUR.

On this basis, Shareholders on the SA Share Register will receive a dividend of 11.18775 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 South African Shareholders who are not exempt from dividend withholding tax, is expected to be 9.50959 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. 

Copies of the Scrip Dividend Alternative Circular have been posted to the Company's Shareholders and are available on the Company's website: www.sirius-real-estate.com 

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

Finncap

Stuart Andrews                                                                                                [phone]

Paul Harrington

Novella                                     

Tim Robertson                                                                                                  [phone]

Ben Heath        

 

END

 

 

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