Capital & Regional plc Update on Dividend Finalisation Announcement (3900D)
April 26 2017 - 5:00AM
UK Regulatory
TIDMCAL
RNS Number : 3900D
Capital & Regional plc
26 April 2017
26 April 2017
Capital & Regional plc
("Capital & Regional" or the "Company" or "Group")
UPDATE REGARDING DIVIDEND FINALISATION ANNOUNCEMENT
Shareholders are referred to the Dividend Finalisation
Announcement (the "finalisation announcement") released on 13 April
2017 and are advised that an amended 'Shareholders who elect to
take shares' section is presented below. The amendments relate
solely to the illustrative figures included for JSE shareholders
and do not impact LSE shareholders.
All defined terms in the finalisation announcement are
applicable to this announcement, all other details remain
unchanged.
Shareholders who elect to take shares:
The number of New Ordinary Shares to be allocated to
shareholders electing to participate in the Scrip Dividend Scheme
will be calculated by dividing the gross value of the Dividend
otherwise receivable by a Shareholder by the Scrip Calculation
Price and rounding down to the nearest whole number. As no fraction
of a new share will be issued, for LSE shareholders any residual
Cash Balance, i.e. the total value of the dividend receivable less
the value of the shares allocated, will be rolled forward and
factored into the Scrip calculation for the next relevant Dividend.
For JSE shareholders, any residual Cash Balance will be paid in
cash in the same way as the Dividend would have been paid had those
shareholders not elected to receive the scrip alternative.
By way of illustration, a shareholder who holds 1,000 shares and
who elects to receive New Ordinary Shares pursuant to the Scrip
Dividend Scheme, will receive a number of New Ordinary Shares
calculated as follows:
LSE Shareholders JSE Shareholders
----------------------------------- ----------------- -----------------
Amount of non-PID dividend
entitled to receive
(per 1.77 pence or 30.12540 301.25400
ZAR cents x 1,000): GBP17.70 ZAR
----------------------------------- ----------------- -----------------
9.61290
Scrip Calculation Price 56.48 pence ZAR
----------------------------------- ----------------- -----------------
Calculated number of new
shares to which shareholder
is entitled (assuming no
cash residual balance brought
forward) 31.33853 31.33853
----------------------------------- ----------------- -----------------
Actual number of new shares
received 31 31
----------------------------------- ----------------- -----------------
Cash Balance (multiply
fractional entitlement
by Scrip Calculation Price) 19 pence 3.25 ZAR
----------------------------------- ----------------- -----------------
Less 20% SA dividends tax
on the Cash Balance payable
(JSE shareholders) N/A 0.65 ZAR
----------------------------------- ----------------- -----------------
Cash Balance net of SA
dividends tax (JSE shareholders) N/A 2.60 ZAR
----------------------------------- ----------------- -----------------
ENDS
For further information:
Capital & Regional plc 020 7932 8000
Hugh Scott-Barrett
Charles Staveley
About Capital & Regional plc
Capital & Regional is a UK focused specialist retail REIT
with a strong track record of delivering value enhancing retail and
leisure asset management opportunities across a c. GBP1 billion
portfolio of in-town dominant community shopping centres. Capital
& Regional is listed on the main market of the London Stock
Exchange and has a secondary listing on the Johannesburg Stock
Exchange.
Capital & Regional owns seven shopping centres in Blackburn,
Hemel Hempstead, Ilford, Luton, Maidstone, Walthamstow and Wood
Green. It also has a 20% joint venture interest in the Kingfisher
Centre in Redditch. Capital & Regional manages these assets,
which comprise over 900 lettable units and attract c. 1.7 million
shopping visits each week, through its in-house expert property and
asset management platform.
For further information see www.capreg.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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