Posting of Scrip Circular and Reference Price
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 Register:
|
Announcement of Final Dividend |
23 May 2016 |
|
Despatch the Scrip Circular and Form of Election |
27 May 2016 |
|
Announcement of Reference Price for the Scrip Dividend Shares released on RNS |
27 May 2016 |
|
Last day to trade in order to be eligible for the cash dividend or alternatively the Scrip Dividend |
15 June 2016 |
|
Shares commence trading ex the cash dividend or Scrip Dividend |
16 June 2016 |
|
Record Date for UK Shareholders |
17 June 2016 |
|
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 01 July 2016 |
|
Announcement on RNS of the number of New Shares issued |
11 July 2016 |
|
Despatch Scrip Dividend share certificates, Final Dividend cheques and tax vouchers |
14 July 2016 |
|
CREST accounts credited and/or updated with the Final Dividend payment in cash and/or Scrip Dividend Shares |
15 July 2016 |
|
Admission of Scrip Dividend Shares to trading on AIM |
15 July 2016 |
|
Final Dividend Payment Date |
15 July 2016 |
For shareholders on the South African Register
|
Announcement of Final Dividend |
23 May 2016 |
|
Despatch the Scrip Circular and Form of Election |
27 May 2016 |
|
Announcement of Reference Price for the Scrip Dividend Shares and the Euro to Rand Conversion Rate released on SENS |
27 May 2016 |
|
Last day to trade in order to be eligible for the cash dividend or alternatively the Scrip Dividend |
09 June 2016 |
|
Shares commence trading ex the cash dividend or Scrip Dividend |
10 June 2016 |
|
Record Date for SA Shareholders |
17 June 2016 |
|
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 17 June 2016 |
|
Announcement on SENS of the number of New Shares issued |
11 July 2016 |
|
CSDP/broker accounts credited and/or updated with the Final Dividend payment in cash and/or Scrip Dividend Shares |
15 July 2016 |
|
Despatch Scrip Dividend Share certificates, Final Dividend cheques and tax vouchers |
15 July 2016 |
|
Admission of Scrip Dividend Shares to trading on JSE |
15 July 2016 |
|
Final Dividend Payment Date |
15 July 2016 |
Notes
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 nor may transfers of shares between sub-registers in the United Kingdom and South Africa take place between 27 May 2016 and 17 June 2016, both days inclusive.
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 Final Dividend declared in connection with the year ended 31 March 2016 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: 48.22 cents (Euro)
Shareholders on the SA Share Register: 830.45839 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 37.09231 Ordinary Shares held
Shareholders on the SA Share Register: 1 New Share for every 36.84113 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 2016 payable to Shareholders on the SA Share Register will be 17.3397 Rand to 1 Euro. For purposes of South African shareholders the Scrip Dividend is regarded as a foreign dividend.
On this basis, Shareholders on the SA Share Register will receive a dividend of 22.54161 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 Listings Requirements of the JSE, the Company confirms that any cash dividend received by SA Shareholders who are not exempt from dividend withholding tax of 15%, is expected to be 19.16037 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 +49 (0)30 285010110
Alistair Marks, CFO
Peel Hunt - Nomad and Joint Broker
Capel Irwin +44 (0)20 7418 8900
George Huntley
PSG Capital - JSE Sponsor
David Tosi +27 (0)21 887 9602
Willie Honeyball
Canaccord Genuity Limited - Joint Broker
Bruce Garrow +44 (0)20 7523 8000
Chris Connors
Mark Whitmore
Novella
Tim Robertson +44 (0)20 3151 7008
Ben Heath
This information is provided by RNS
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