Dividend Declaration

Pollen Street PLC

09 January 2024

 

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN THE UNITED KINGDOM), CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

Pollen Street plc (the "Company")

DIVIDEND DECLARATION

The Directors of Pollen Street plc have declared an interim dividend of 13.00 pence per ordinary share for the three-month period to 31 December 2023 (the "Interim Dividend").

The Interim Dividend will be paid on 1 March 2024 to holders of ordinary shares on the register as of 19 January 2024. The ex-dividend date is 18 January 2024.

The Company has elected to designate all the Interim Dividend as an interest distribution to its shareholders. In doing so, the Company is taking advantage of UK tax treatment by "streaming" income from interest-bearing investments into dividends that will be taxed in the hands of shareholders as interest income.

As previously announced, the Interim Dividend is the last dividend that will be designated as an interest distribution to shareholders in accordance with the UK tax legislation applicable to the payment of interest distributions by investment trusts and is the first dividend that is available to all shareholders following completion of the combination between the Company and Pollen Street Capital Holdings Limited on 30 September 2022.

Subject to the scheme of arrangement announced by the Company on 18 September 2023 (the "Scheme") becoming effective, subsequent dividends will be declared by the new parent company of the group, Pollen Street Group Limited ("PSGL"). It is expected that PSGL will declare dividends on a bi-annual timetable, such that the next dividend is expected to be an interim dividend declared following publication of PSGL's half-year results. Further information on the Company's proposed new holding company is available in the prospectus published by PSGL on 27 November 2023, which is available on the Company's website.

The Company also announces that the dividend reinvestment plan (the "DRiP") operated by the Company has been suspended. Accordingly, it will not be possible for shareholders to reinvest any proceeds from the Interim Dividend via the Company's DRiP. Subject to the Scheme becoming effective, it is expected that PSGL will operate a new DRiP in time for the first dividend paid by PSGL in 2024.

For further information about this announcement please contact:

Computershare Investor Services PLC

Registrar

Tel: [phone]

9 January 2024

 

END