Scrip Dividend Reference Price and Conversion Rate

RNS Number : 8469Q

Sirius Real Estate Limited

02 December 2016

 

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                                                                      [phone]             

Andrew Coombs, CEO

Alistair Marks, CFO            

Peel Hunt                                                                                    [phone]

Capel Irwin 

Edward Fox            

Canaccord Genuity Limited                                                      [phone]

Bruce Garrow

Chris Connors                                                                                  

JSE Sponsor: PSG Capital                                                        [phone]

David Tosi                                                                                                    

Willie Honeyball

Novella                                                                                        [phone]

Tim Robertson

Toby Andrews

 

END

 

 

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