TIDMSRE
RNS Number : 0165U
Sirius Real Estate Limited
20 November 2023
SIRIUS REAL ESTATE LIMITED
(Incorporated in Guernsey)
Company Number: 46442
JSE Share Code: SRE
LSE (GBP) Share Code: SRE
LEI: 213800NURUF5W8QSK566
ISIN Code: GG00B1W3VF54
20 November 2023
Sirius Real Estate Limited
("Sirius Real Estate", "Sirius" or the "Company")
Cash dividend and offer of Dividend Reinvestment Plan
The board of directors of Sirius has earlier today declared a
dividend for the six-month period ended 30 September 2023 of
EUR0.030 per share, an increase of 11% on the EUR0.0 270 per share
dividend relating to the corresponding period last year.
The dividend is payable on Thursday 25 January 2024 to Sirius
shareholders ("Shareholders") on the South African ("SA") share
register at the close of business on Thursday, 14 December 2023 and
to Shareholders on the United Kingdom ("UK") share register at the
close of business on Friday, 15 December 2023.
The Company will not be offering a scrip dividend alternative
but, for those Shareholders who wish to receive their dividend in
the form of shares, the Dividend Reinvestment Plan ("DRIP") will be
available. This means that the net dividend after tax is
effectively reinvested by acquiring additional shares in the
Company. The DRIP terms and conditions of the DRIP can be found at
www.signalshares.com (for Shareholders on the UK share register)
and www.sirius-real-estate.com/investors/dividends/
(for Shareholders on the SA share register).
1. Salient dates and times
Shareholders on the UK share register
Dividend declaration date Monday, 20 November 2023
Last day to trade in order to be Wednesday, 13 December 2023
eligible for the cash dividend
----------------------------
Shares commence trading ex the cash Thursday, 14 December 2023
dividend (the UK Ex-Dividend Date)
----------------------------
Record Date for Shareholders on the Friday, 15 December 2023
UK share register ("UK Shareholders")
(the UK Record Date)
----------------------------
Last day for receipt of DRIP elections Tuesday, 2 January 2024
by UK Registrars (Link)
----------------------------
Payments via electronic funds transfers, Thursday, 25 January 2024
dividend cheques and tax vouchers
----------------------------
CREST accounts credited and/or updated Thursday, 25 January 2024
with the dividend payment in cash
----------------------------
Dividend payment date Thursday, 25 January 2024
----------------------------
DRIP purchases settlement date (subject Monday, 29 January 2024
to market conditions and the purchase
of shares in the open market)
----------------------------
Shareholders on the SA share register
Dividend declaration and finalisation Monday, 20 November 2023
date
Last day to trade in order to be Monday , 11 December 2023
eligible for the cash dividend
---------------------------
Shares commence trading ex the cash Tuesday, 12 December 2023
dividend (the SA Ex-Dividend Date)
---------------------------
Record date for Shareholders on the Thursday, 14 December 2023
SA share register ("SA Shareholders")
(the SA Record Date)
---------------------------
Last day for receipt of DRIP elections Tuesday, 2 January 2024
---------------------------
Central Securities Depository Participants Thursday, 25 January 2024
("CSDPs") and broker accounts credited
and/or updated with the dividend
payment in cash
---------------------------
Dividend payment date Thursday, 25 January 2024
---------------------------
DRIP purchases settlement date (subject Thursday, 8 February 2024
to market conditions and the purchase
of shares in the open market)
---------------------------
The above dates and times are subject to change. Any changes
will be released on RNS and SENS as soon as practically
possible.
To facilitate settlement of the dividend to entitled SA
Shareholders, share certificates may not be dematerialised or
rematerialised between Tuesday, 12 December 2023 (the SA
Ex-Dividend Date) and Thursday, 14 December 2023 (the SA Record
Date). No transfers of Sirius shares shall be registered in the SA
share register, or between the SA share register and the UK share
register, between Monday, 20 November 2023 (the Dividend
Declaration Date) and Thursday, 14 December 2023. All dates are
inclusive.
The dividend has been declared by the board of directors of the
Company in Euro, from income reserves. UK Shareholders may choose
to receive their entitlement to the dividend in cash in either Euro
or Sterling. UK Shareholders who do not make a valid Sterling
currency election will receive any entitlement to the cash dividend
in Euro. The Sterling currency election form is available online
at: www.sirius-real-estate.com/investors/dividends/ SA Shareholders
will receive any entitlement to the cash dividend in SA Rand
("ZAR").
2. Conversion Rates
The Euro to Sterling Conversion Rate (UK share register
only)
For UK Shareholders who make a valid Sterling currency election,
the conversion rate for the purposes of calculating the dividend
for the six months ended 30 September 2023 will be a Euro to
Sterling Rate of GBP0.87566.
On this basis, UK Shareholders who have elected to receive their
entitlement to the dividend in cash in Sterling will be entitles to
a gross dividend of GBP0.02627 (Sterling) per share. The gross
dividend will be subject to tax, unless exempt.
The Euro to ZAR Conversion Rate (SA share register only)
For SA Shareholders, the conversion rate for the purposes of
calculating the dividend authorised in connection with the period
ended 30 September 2023 will be 19.99090 ZAR to 1 Euro.
The Euro to ZAR conversion for payment of the dividend in ZAR
will be settled on Monday, 20 November 2023, using the Euro to ZAR
Conversion Rate which has been fixed by the Company as at Friday,
17 November 2023. The closing market price for a share on the JSE
on Friday, 17 November 2023 was R19.98.
On this basis, SA Shareholders will receive a gross dividend of
59.97270 (ZAR cents) per share. The gross dividend will be subject
to tax, unless exempt.
3. Dividend Reinvestment Plan
UK Shareholders
UK Shareholders who wish to participate in the DRIP should
complete an application form online at: www.signalshares.com.
Please note that for any future offers of the DRIP, those
shareholders who hold their shares on the UK principal register and
have participated in the DRIP, need not complete a DRIP election
form for each dividend as such forms provide an ongoing authority
to participate in the DRIP until cancelled in writing or online at
www.signalshares.com.
SA Shareholders
As at the date of this announcement, all SA Shareholders hold
their shares in a dematerialised form through the Strate system.
Such shareholders who wish to participate in the DRIP should
contact their CSDP or broker. SA Shareholders who rematerialise
their share certificate(s) will not be eligible to participate in
the DRIP.
Certificated shareholders or dematerialised shareholders who
have rematerialised their share certificate(s), who wish to
participate in the DRIP are required to dematerialise their share
certificate(s) and transfer their shares into a CSDP. Should you
hold registered share certificates and wish to dematerialise your
share certificates in order to participate in the DRIP, please
contact Computershare on +2711 370 5000 (overseas) or call 086 1100
933 between 08:30 to 17:00 SAST on business days, for the procedure
to be followed.
For further details, please see the DRIP terms and conditions,
which could be found at
www.sirius-real-estate.com/investors/dividends/.
4. Property Income Distribution ("PID"), non-PID and taxation
Shareholders are advised that the cash dividend declared will be
paid as a 82% PID and 18% non-PID.
Shareholders will thus be paid as follows:
UK Shareholders (GBP SA Shareholders (ZAR
pence) cents)
Total (gross) 2.62698p 59.97270 cents
--------------------- ---------------------
PID
--------------------- ---------------------
Gross amount of PID 2.15412p 49.17761 cents
--------------------- ---------------------
Less 20% UK withholding 0.43082p 9.83552 cents
tax*
--------------------- ---------------------
Net PID payable** 1.72330p 39.34209 cents
--------------------- ---------------------
Less effective 5% SA N/A 2.45888 cents
dividends tax for SA
Shareholders (SA only)***
--------------------- ---------------------
Net PID payable 1.72330p 36.88321 cents
--------------------- ---------------------
Non-PID
--------------------- ---------------------
Gross amount of non-PID 0.47286p 10.79509 cents
--------------------- ---------------------
Less 20 % SA dividends - 2.15902 cents
tax (SA only) ****
--------------------- ---------------------
Non-PID payable (net 0.47286p 8.63607 cents
SA only)
--------------------- ---------------------
* Certain categories of UK Shareholders may apply for exemption,
in which case the PID element will be paid gross of UK withholding
tax.
** Net position after deducting UK withholding tax for both UK
and SA Shareholders, but before eligible SA Shareholders have
claimed back 5% from His Majesty's Revenue & Customs under the
double taxation agreement between the UK and South Africa in
respect of the UK withholding tax.
*** SA dividends tax applies at the rate of 20% for SA
Shareholders if an exemption does not exist, but eligible SA
Shareholders receive a rebate of the UK withholding taxes suffered
(which rate is effectively 15%, after taking into account the 5%
rebate referred to in **).
**** SA dividends tax applies at the rate of 20% for SA
Shareholders if an exemption does not exist.
Additional information on the tax implication for Shareholders
can be found at www.sirius-real-estate.com/investors/dividends/
Shareholders who are in any doubt about their tax position, or
who are subject to tax in a jurisdiction other than the UK or SA,
should consult their own appropriate independent professional
adviser without delay.
SA Non-residents would have to submit a declaration and written
undertaking in the prescribed form to the relevant regulated
intermediary for the exemption to apply. The declaration and
written undertaking must be submitted before the due date for the
payment of the dividend.
5. General information
On Monday, 20 November 2023, being the declaration date of the
dividend, the Company had in issue 1,177,722,985 ordinary shares
and there were no shares held in treasury. 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.
The dividend is being paid from Guernsey.
6. Exchange Control Regulations
The following is intended only as a guide and is therefore not a
comprehensive statement of the Exchange Control Regulations of
South Africa issued under the South African Currency and Exchanges
Act, No. 9 of 1933, as amended ("Exchange Control Regulations"),
applicable to SA Shareholders.
Shareholders who are in any doubt as to the appropriate course
of action to take should consult their professional advisors.
Any shares acquired via the DRIP are not freely transferable
from South Africa and must be dealt with in the terms of the
Exchange Control Regulations.
Shareholders who hold shares on the SA share register can only
receive reinvested shares on that register.
Non-resident Shareholders and emigrants who elect to
receive:
1. The cash dividend
As the cash dividend will be paid out of the Company's
distributable profits, such dividends are freely transferable from
South Africa. For emigrants, the election of the cash dividend by
emigrants must be made through an authorised dealer in foreign
exchange controlling the Shareholder's emigrant capital
account.
2. Reinvested shares via the DRIP
Only dematerialised Shareholders may participate in the DRIP and
all aspects relating to the Exchange Control Regulations will be
managed by their CSDP or broker, as follows:
(A) Non-residents
Reinvested shares will be credited to their CSDP or broker
accounts and a "Non-Resident" annotation will appear in the CSDP or
broker register. Dividend payments will be credited directly to the
bank accounts nominated for them by their CSDP or broker.
(B) Emigrants
Based on shares controlled in terms of the Exchange Control
Regulations, reinvested shares will be controlled and form part of
the emigrant's remaining assets and be reflected in the capital
account held with the Authorised Dealer controlling these assets.
In particular, it will be the CSDP of the Authorised Dealer or the
CSDP contracted by the Authorised Dealer that will be responsible
to implement the election and a "Non-Resident" annotation will
appear in the CSDP. These shares will thus form part of the
remaining assets of the emigrant. However, it should be noted that
it was indicated by the South African Reserve Bank in Exchange
Control Circular 3/2023, that remaining funds in South Africa may
be transferred from South Africa up to R10 million, subject to the
emigrant obtaining the relevant tax TCS clearance from the South
African Revenue Service.
In terms of the Exchange Control Regulations of South
Africa:
1. any share certificates that might be issued to non-resident
shareholders will be endorsed 'Non-Resident';
2. any new share certificates issued based on emigrants' shares
controlled in terms of the Exchange Control Regulations, will be
forwarded to the Authorised Dealer controlling their remaining
assets. Such share certificates will be endorsed 'Non-Resident';
and
3. dividend and residual cash payments are freely transferable from South Africa.
For further information:
Sirius Real Estate
Andrew Coombs, CEO
Chris Bowman, CFO +49 (0)30 285010110
FTI Consulting (financial
PR)
Richard Sunderland
Talia Shirion
+44 (0)20 3727
SiriusRealEstate@fticonsulting.com 1000
JSE Sponsor
PSG Capital
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END
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