Scrip Dividend Reference Price and Exchange Rate

RNS Number : 5098I

Sirius Real Estate Limited

26 November 2018

 

26 November 2018

Sirius Real Estate Limited

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

Posting of Scrip Dividend Alternative Circular and

Scrip Dividend Reference Price and Exchange Rate

Sirius Real Estate is pleased to confirm that the Scrip Dividend Alternative Circular and (if appropriate) a Form of Election have today been posted to shareholders 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 Interim Dividend	Monday, 19 November 2018
Despatch the Scrip Circular and Form of Election and announce the despatch on RNS	Monday, 26 November 2018
Announcement of Reference Price for the New Shares and the Euro to Sterling Conversion Rate released on RNS	Monday, 26 November 2018
Last day to trade in order to be eligible for the cash dividend or alternatively the scrip dividend	Wednesday, 12 December 2018
Shares commence trading ex the cash dividend or scrip dividend (the UK Ex-Dividend Date)	Thursday, 13 December 2018
Record Date for UK Shareholders	Friday, 14 December 2018
Deadline by which election to receive the New Shares or election to receive dividend entitlements in Sterling must have been received by the Registrars (Election Return Date)	5.00 p.m. (UK time) on Wednesday, 2 January 2019
Announcement on RNS of the number of New Shares issued	Friday, 11 January 2019
Despatch scrip dividend share certificates, Interim Dividend cheques and tax vouchers	Thursday, 17 January 2019
CREST accounts credited and/or updated with the Interim Dividend payment in cash and/or New Shares	Friday, 18 January 2019
Admission of New Shares to the premium segment of the Official List and to trading on Main Market	Friday, 18 January 2019
Interim Dividend Payment Date	Friday, 18 January 2019

For shareholders on the South African Share Register:

Announcement of Interim Dividend	Monday, 19 November 2018
Despatch the Scrip Circular and Form of Election and announce the despatch on SENS	Monday, 26 November 2018
Announcement of Reference Price for the New Shares and the Euro to Rand Conversion Rate released on SENS	Monday, 26 November 2018
Last day to trade in order to be eligible for the cash dividend or alternatively the scrip dividend	Tuesday, 11 December 2018
Shares commence trading ex the cash dividend or scrip dividend (the SA Ex-Dividend Date)	Wednesday, 12 December 2018
Record Date for SA Shareholders	Friday, 14 December 2018
Deadline by which election to receive the New Shares must have been received by the Transfer Secretaries (Election Return Date)	12.00 noon (South African time) on Friday, 14 December 2018
Announcement on SENS of the number of New Shares to be issued	Friday, 11 January 2019
Participant/broker accounts credited and/or updated with the Interim Dividend payment in cash and/or New Shares	Friday, 18 January 2019
Despatch scrip dividend share certificates, Interim Dividend cheques and tax vouchers	Friday, 18 January 2019
Listing and admission of New Shares to trading on the JSE	Friday, 18 January 2019
Interim Dividend Payment Date	Friday, 18 January 2019

The above dates and times are subject to change. Any changes will be released on RNS and SENS.

Share certificates may not be dematerialised or rematerialised, between Wednesday, 12 December 2018 and Friday, 14 December 2018, nor may transfers of shares between sub-registers in the United Kingdom and South Africa take place between Monday, 26 November 2018 and Friday, 14 December 2018, both days inclusive.

The Interim Dividend has been declared in Euro. Shareholders on the UK Share Register may elect to receive their entitlement to the Interim Dividend in cash in either Euro or Sterling. Shareholders on the UK Share Register that do not make a valid Sterling currency election will receive any entitlement to the cash dividend in Euro. Shareholders on the South African Share Register (SA Share Register) will receive any entitlement to the cash dividend in Rand.

The Scrip Dividend Reference Prices are as follows:

Shareholders on the UK Share Register:                £0.57957 (Sterling)

Shareholders on the SA Share Register:                R10.39444 (Rand)

The conversion rate and the Interim Dividend authorised in Sterling (UK Share Register only)

Shareholders on the UK Share Register may elect to receive their entitlement to the Interim Dividend in cash in either Euro or Sterling. For Shareholders on the UK Share Register that make a valid Sterling currency election, the conversion rate for the purposes of calculating the Interim Dividend authorised in connection with the period ended 30 September 2018 payable to Shareholders on the UK Share Register will be a Euro to Sterling Conversion Rate of £0.88535.

On this basis, Shareholders on the UK Share Register who have elected to receive their entitlement to the Interim Dividend in cash in Sterling will receive a gross dividend of £0.01443 (Sterling) per Ordinary Share.

Alternatively Shareholders on the UK Share Register may elect to receive new shares by way of the Scrip Dividend Alternative.

The conversion rate and the Interim Dividend authorised in Rand (SA Share Register only)

The conversion rate for the purposes of calculating the Interim Dividend authorised in connection with the period ended 30 September 2018 payable to Shareholders on the SA Share Register will be 15.71210 Rand to 1 Euro.

On this basis, Shareholders on the SA Share Register will receive a gross dividend of R0.25611 (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.

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

Shareholders on the UK Share Register:                1 New Share for every 40.16424 Ordinary Shares held

Shareholders on the SA Share Register:                1 New Share for every 40.58584 Ordinary Shares held

Information for Shareholders on the SA Share Register

In accordance with the Listings Requirements of the JSE, the Company confirms that the net cash dividend received by SA Shareholders who are not exempt from dividend withholding tax of 20%, is expected to be R0.20489 (Rand) per Ordinary Share.  The Company had 1,009,996,718 Ordinary Shares in issue (comprising 574,892 shares held in treasury and 1,009,421,826 shares with voting rights) on Monday, 19 November 2018 the declaration date of the dividend. The Company is incorporated in Guernsey with Company number 46442 and its tax registration number in Guernsey is 1EC.956 and its UK tax number is GB 203993015.

South African Shareholders who elect to receive the dividend in scrip form should not be subject to income tax on receipt of New Shares or dividend withholding tax.

For the purposes of South African shareholders, the Scrip Dividend is likely to be regarded as a foreign dividend. 

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") to be dispatched on Monday, 26 November 2018.

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 Kirsty Allan	[phone]

LEI: 213800NURUF5W8QSK566

JSE Sponsor

PSG Capital

 

END

 

 

MSCBDBDBXXDBGIL