Scrip Dividend Reference Price and Conversion Rate
2 December 2016
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 Form of Election have today been posted to shareholders and are available on the Company's website: www.sirius-real-estate.com.
Capitalised terms in this announcement have the same meaning as given to them in the Scrip Circular.
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 |
28 November 2016 |
|
Despatch the Scrip Circular and Form of Election |
2 December 2016 |
|
Announcement of Reference Price for the New Shares released on RNS |
2 December 2016 |
|
Last day to trade in order to be eligible for the cash dividend or alternatively the scrip dividend |
14 December 2016 |
|
Shares commence trading ex the cash dividend or scrip dividend |
15 December 2016 |
|
Record Date for UK Shareholders |
16 December 2016 |
|
Deadline by which election to receive the New Shares must have been received by the Registrars (Election Return Date) |
5 p.m. (UK time) on 6 January 2017 |
|
Announcement on RNS of the number of New Shares issued |
13 January 2017 |
|
Despatch scrip dividend share certificates, Interim Dividend cheques and tax vouchers |
19 January 2017 |
|
CREST accounts credited and/or updated with the Interim Dividend payment in cash and/or New Shares |
20 January 2017 |
|
Admission of New Shares to trading on AIM |
20 January 2017 |
|
Interim Dividend Payment Date |
20 January 2017 |
For shareholders on the South African Share Register
|
Announcement of Interim Dividend |
28 November 2016 |
|
Despatch the Scrip Circular and Form of Election |
2 December 2016 |
|
Announcement of Reference Price for the New Shares and the Euro to Rand Conversion Rate released on SENS |
2 December 2016 |
|
Last day to trade in order to be eligible for the cash dividend or alternatively the scrip dividend |
12 December 2016 |
|
Shares commence trading ex the cash dividend or scrip dividend |
13 December 2016 |
|
Record Date for SA Shareholders |
15 December 2016 |
|
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 15 December 2016 |
|
Announcement on SENS of the number of New Shares issued |
13 January 2017 |
|
Participant/broker accounts credited and/or updated with the Interim Dividend payment in cash and/or New Shares |
20 January 2017 |
|
Despatch scrip dividend share certificates, Interim Dividend cheques and tax vouchers |
20 January 2017 |
|
Listing and admission of New Shares to trading on AltX |
20 January 2017 |
|
Interim Dividend Payment Date |
20 January 2017 |
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, between Tuesday, 13 December and Thursday, 15 December, nor may transfers of shares between sub-registers in the United Kingdom and South Africa take place between Friday, 2 December 2016 and Friday, 16 December 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 Interim Dividend declared in connection with the six months ended 30 September 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: 50.55 cents (Euro)
Shareholders on the SA Share Register: 757.31824 cents (Rand)
The Conversion Rate and the Dividend in Rand for Shareholders on the SA Share Register
The Conversion Rate for the purposes of calculating the Interim Dividend declared in connection with the six months ended 30 September 2016 payable to Shareholders on the SA Share Register will be 14.9733 Rand to 1 Euro.
On this basis, Shareholders on the SA Share Register will receive a gross dividend of 20.81289 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.
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 36.36691 Ordinary Shares held
Shareholders on the SA Share Register: 1 New Share for every 36.38698 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 15%, is expected to be 17.69096 cents (Rand) per Ordinary Share. The Company had 841,831,291 Ordinary Shares in issue (comprising 1,062,058 shares held in treasury and 840,769,233 shares with voting rights) on Monday, 28 November 2016, 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.
As set out in the Scrip 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.
For the purposes of South African shareholders, the Scrip Dividend is regarded as a foreign dividend.
The distribution of the Scrip Circular in certain jurisdictions (including the United States of America, Canada, Japan 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.
Enquiries:
Sirius Real Estate +49 (0)30 285010110
Andrew Coombs, CEO
Alistair Marks, CFO
Peel Hunt +44 (0)20 7418 8900
Capel Irwin
Edward Fox
Canaccord Genuity Limited +44 (0)20 7523 8000
Bruce Garrow
Chris Connors
JSE Sponsor: PSG Capital +27 (0)21 887 9602
David Tosi
Willie Honeyball
Novella +44 (0)20 3151 7008
Tim Robertson
Toby Andrews
This information is provided by RNS
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