Information  X 
Enter a valid email address

Sirius Real Estate (SRE)

  Print   

Monday 29 November, 2021

Sirius Real Estate

Posting of Scrip Dividend Circular

RNS Number : 8661T
Sirius Real Estate Limited
29 November 2021
 

SIRIUS REAL ESTATE LIMITED

(Incorporated in Guernsey)

Company Number: 46442

JSE Share Code: SRE

LSE (GBP) Share Code: SRE

LEI: 213800NURUF5W8QSK566

ISIN Code: GG00B1W3VF54

 

29 November 2021

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 Scrip Dividend Alternative

Monday, 8 November 2021

Announcement of Reference Price for the New Shares and the Euro to Sterling Conversion Rate released on RNS

Monday, 29 November 2021

Despatch the Scrip Circular and Form of Election and announce the despatch on RNS

Monday, 29 November 2021

Last day to trade in order to be eligible for the cash dividend or alternatively the scrip dividend

Wednesday, 15 December 2021

Shares commence trading ex the cash dividend or scrip dividend (the UK Ex-Dividend Date)

Thursday, 16 December 2021

Record Date for Shareholders on the UK Share Register

Friday, 17 December 2021

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 Thursday, 30 December 2021

Announcement on RNS of the number of New Shares issued

Wednesday, 12 January 2022

Despatch scrip dividend share certificates, Dividend cheques and tax vouchers

Wednesday, 19 January 2022

CREST accounts credited and/or updated with the Dividend payment in cash and/or New Shares

Thursday, 20 January 2022

Admission of New Shares to the premium segment of the Official List and to trading on Main Market

Thursday, 20 January 2022

Dividend Payment Date

Thursday, 20 January 2022

 

For Shareholders on the SA Share Register:

 

Announcement of Scrip Dividend Alternative

Monday, 8 November 2021

Announcement of Reference Price for the New Shares and the Euro to ZAR Conversion Rate released on SENS

Monday, 29 November 2021

Despatch the Scrip Circular and Form of Election and announce the despatch on SENS

Monday, 29 November 2021

Last day to trade in order to be eligible for the cash dividend or alternatively the scrip dividend

Monday, 13 December 2021

Shares commence trading ex the cash dividend or scrip dividend (the SA Ex-Dividend Date)

Tuesday, 14 December 2021

Announcement on SENS regarding Cash Fractions applicable to the Scrip Dividend, by 11:00 a.m.

Wednesday, 15 December 2021

Record Date for Shareholders on the SA Share Register

Friday, 17 December 2021

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 Thursday, 30 December 2021

Announcement on SENS of the number of New Shares to be issued

Wednesday, 12 January 2022

Execution of the conversion from Euro to ZAR for payment of any dividends in ZAR

Thursday, 13 January 2022

Participant/broker accounts credited and/or updated with the Dividend payment in cash and/or New Shares

Thursday, 20 January 2022

Despatch scrip dividend share certificates, Dividend cheques and tax vouchers

Thursday, 20 January 2022

Listing and admission of New Shares to trading on the JSE

Thursday, 20 January 2022

Dividend Payment Date

Thursday, 20 January 2022

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

To facilitate settlement of the Dividend to entitled SA Shareholders, share certificates may not be dematerialised or rematerialised between Tuesday, 14 December 2021 (the SA Ex-Dividend Date) and Friday, 17 December 2021 (the Record Date). No transfers of Shares shall be registered in the SA Share Register, or between the SA Share Register and the UK Share Register, between Monday, 29 November 2021 (the Reference Price date) and Friday, 17 December 2021. All dates are inclusive.

The Dividend has been declared in Euro. Shareholders on the UK Share Register may choose to receive their entitlement to the Dividend in cash in either Euro or Sterling. Shareholders on the UK Share Register who do not make a valid Sterling currency election will receive any entitlement to the cash dividend in Euro. Shareholders on the SA Share Register will receive any entitlement to the cash dividend in ZAR.

The Scrip Dividend Reference Prices are as follows:

Shareholders on the UK Share Register:  £1.37726 (Sterling)

Shareholders on the SA Share Register: 2,895.43248 (ZAR cents)

Therefore, the number of New Shares which Shareholders electing to take the Scrip Dividend Alternative will receive are (subject to the treatment of any fractions) as follows:

Shareholders on the UK Share Register:  1 New Share for every 80.35356 Ordinary Shares held

Shareholders on the SA Share Register:  1 New Share for every 79.73762 Ordinary Shares held

Fractions

Where an entitlement to New Shares in relation to the Scrip Dividend Alternative as calculated in accordance with the formulae described above gives rise to a fraction of a New Share, such fractional entitlement shall be treated as follows:

Shareholders on the UK Share Register:

No fraction of a New Share will be issued to Shareholders on the UK Share Register, and the relevant amount of Dividend will be retained for the benefit of the Company.

 

Shareholders on the SA Share Register:

Trading in the Strate environment does not permit fractions and fractional entitlements. Any fractional entitlement will be rounded down to the nearest whole number, resulting in allocations of whole securities and a cash payment in ZAR for the fractional amount.

The Euro to Sterling Conversion Rate (UK Share Register only)

For Shareholders on the UK Share Register who make a valid Sterling currency election, the conversion rate for the purposes of calculating the Dividend for the six months ended 30 September 2021 will be a Euro to Sterling Rate of £0.84000 (based on the average over the five days preceding this announcement).

On this basis, Shareholders on the UK Share Register who have elected to receive their entitlement to the Dividend in cash in Sterling will receive a gross dividend of £0.01714 (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 Euro to ZAR Conversion Rate (SA Share Register only)

For Shareholders on the SA Share Register, the conversion rate for the purposes of calculating the Dividend authorised in connection with the period ended 30 September 2021 will be 17.80000 ZAR to 1 Euro (based on the average over the five days preceding this announcement).

The Euro to ZAR conversion for payment of the dividend in ZAR will be settled on Thursday, 13 January 2022, using the Euro to ZAR Conversion Rate which has been fixed by the Company as at the date of this announcement and the Circular.

On this basis, Shareholders on the SA Share Register will receive a gross dividend of 36.31200 (ZAR cents) 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.

Information for Shareholders on the SA Share Register

Tax

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 29.04960 (ZAR cents) per Ordinary Share.

South African Shareholders who elect to receive the Dividend in scrip form should not be subject to income tax or dividend withholding tax on receipt of the New Shares, and the Scrip Dividend will not be regarded as a foreign dividend. 

General information

On Monday, 8 November 2021, being the declaration date of the Dividend, the Company had in issue 1,064,184,239 Ordinary Shares carrying voting rights, and there were no shares held in treasury. The Company has 1,169,465,925 Ordinary Shares carrying voting rights since the placing of new Ordinary Shares which completed on 12 November 2021). 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.

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, 29 November 2021.

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

 

 

FTI Consulting (financial PR)

Richard Sunderland

Claire Turvey

Talia Jessener


[email protected]

 

+44 (0)20 3727 1000
 

 

 

 

JSE Sponsor

PSG Capital

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
CIRDKCBDCBDKQDB

a d v e r t i s e m e n t