TIDMSRE
RNS Number : 8330Q
Sirius Real Estate Limited
08 June 2018
8 June 2018
Sirius Real Estate Limited
("Sirius Real Estate" or the "Company")
Posting of Scrip Dividend Alternative Circular and
Scrip Dividend Reference Prices and Conversion Rates
Sirius Real Estate is pleased to confirm that the Scrip Dividend
Alternative Circular and (if appropriate) forms 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 Share Register:
Announcement of Final Dividend Monday, 4 June 2018
Despatch the Scrip Circular and Form Friday, 8 June 2018
of Election and announce the despatch
on RNS
-------------------------------
Announcement of Reference Price for Friday, 8 June 2018
the New Shares and the Euro to Sterling
Conversion Rate released on RNS
-------------------------------
Last day to trade in order to be Wednesday, 11 July 2018
eligible for the cash dividend or
alternatively the scrip dividend
-------------------------------
Shares commence trading ex the cash Thursday, 12 July 2018
dividend or scrip dividend (the UK
Ex-Dividend Date)
-------------------------------
Record Date for UK Shareholders Friday, 13 July 2018
-------------------------------
Deadline by which election to receive 5.00 p.m. (UK time) on Friday,
the New Shares or election to receive 27 July 2018
dividend entitlements in Sterling
must have been received by the Registrars
(Election Return Date)
-------------------------------
Announcement on RNS of the number Friday, 10 August 2018
of New Shares issued
-------------------------------
Despatch scrip dividend share certificates, Thursday, 16 August 2018
Final Dividend cheques and tax vouchers
-------------------------------
CREST accounts credited and/or updated Friday, 17 August 2018
with the Final Dividend payment in
cash and/or New Shares
-------------------------------
Admission of New Shares to the premium Friday, 17 August 2018
segment of the Official List and
to trading on Main Market
-------------------------------
Final Dividend Payment Date Friday, 17 August 2018
-------------------------------
For shareholders on the South African Share Register:
Announcement of Final Dividend Monday, 4 June 2018
Despatch the Scrip Circular and Form Friday, 8 June 2018
of Election
--------------------------------
Announcement of Reference Price for Friday, 8 June 2018
the New Shares and the Euro to Rand
Conversion Rate released on SENS
--------------------------------
Last day to trade in order to be Tuesday, 10 July 2018
eligible for the cash dividend or
alternatively the scrip dividend
--------------------------------
Shares commence trading ex the cash Wednesday, 11 July 2018
dividend or scrip dividend (the SA
Ex-Dividend Date)
--------------------------------
Record Date for SA Shareholders Friday, 13 July 2018
--------------------------------
Deadline by which election to receive 12.00 noon (South African time)
the New Shares must have been received on Friday, 13 July 2018
by the Transfer Secretaries (Election
Return Date)
--------------------------------
Announcement on SENS of the number Friday, 10 August 2018
of New Shares to be issued
--------------------------------
Participant/broker accounts credited Friday, 17 August 2018
and/or updated with the Final Dividend
payment in cash and/or New Shares
--------------------------------
Despatch scrip dividend share certificates, Friday, 17 August 2018
Final Dividend cheques and tax certificates
--------------------------------
Listing and admission of New Shares Friday, 17 August 2018
to trading on the JSE
--------------------------------
Final Dividend Payment Date Friday, 17 August 2018
--------------------------------
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 Wednesday, 11 July 2018 and Friday, 13 July 2018, nor may
transfers of shares between sub-registers in the United Kingdom and
South Africa take place between Friday, 8 June 2018 and Friday, 13
July 2018, both days inclusive
The Final Dividend has been declared in Euro and Shareholders on
the UK Register who wish to receive their entitlement to the Final
Dividend fully in cash in Euro need take no further action, unless
they have previously made a valid Sterling currency election (in
which case they will need to revoke this election). Shareholders on
the UK Share Register may, however, elect to receive their
entitlement to the Final Dividend fully in cash in Sterling.
Shareholders that elect to receive part of their entitlement in New
Shares will receive any balance of their entitlement in cash in
Sterling. Shareholders on the South African Share Register (SA
Share Register) will receive any entitlement to the cash dividend
in Rand.
As set out in the Scrip Dividend Alternative Circular, Sirius
Real Estate today announces the posting of the Scrip Dividend
Alternative Circular and accompanying forms, as well as the Scrip
Dividend Reference Prices and the Euro to Rand Conversion Rate and
the Euro to Sterling Conversion Rate for the purposes set out in
the Scrip Dividend Alternative Circular.
The Scrip Dividend Reference Prices are as follows:
Shareholders on the UK Share Register: GBP0.64994 (Sterling)
Shareholders on the SA Share Register: R11.01770 (Rand)
The Euro to Sterling Conversion Rate and the Final Dividend
authorised in Sterling (UK Share Register only)
Shareholders on the UK Share Register may elect to receive their
entitlement to the Final Dividend fully in cash in either Euro or
Sterling. For Shareholders on the UK Share Register that make a
valid Sterling currency election, the conversion rate for the
purposes of calculating the Final Dividend authorised in connection
with the year ended 31 March 2018 payable to Shareholders on the UK
Share Register will be 0.87873 GBP to 1 Euro.
On this basis, Shareholders on the UK Share Register who have
elected to receive their entitlement to the Final Dividend fully in
cash in Sterling will receive a gross dividend of GBP0.01406
(Sterling) per Ordinary Share.
Alternatively Shareholders on the UK Share Register may elect to
receive New Shares by way of the Scrip Dividend Alternative.
The Euro to Rand Conversion Rate and the Final Dividend
authorised in Rand (SA Share Register only)
The conversion rate for the purposes of calculating the Final
Dividend authorised in connection with the year ended 31 March 2018
payable to Shareholders on the SA Share Register will be 15.05 Rand
to 1 Euro.
On this basis, Shareholders on the SA Share Register will
receive a gross dividend of R0.24080 (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
46.22723 Ordinary Shares held
Shareholders on the SA Share Register: 1 New Share for every
45.75457 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
20%, is expected to be R0.19264 (Rand) per Ordinary Share. The
Company had 991,904,506 Ordinary Shares in issue (comprising
574,892 shares held in treasury and 991,329,614 shares with voting
rights) on Monday, 4 June 2018 the authorisation 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. Receipt of the cash dividend
is likely to be regarded as a foreign dividend in the hands of
South African tax resident shareholders.
As set out in the Scrip Circular, South African tax resident
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. Receipt of New Shares should not be
regarded as a foreign dividend in the hands of South African tax
resident shareholders.
The above should not be construed as tax advice and shareholders
are advised to seek their own tax advice from an independent tax
adviser regarding the tax consequences of electing to receive New
Shares or a full cash dividend or should they be in any doubt as to
the appropriate election to be made.
Further Information
Terms used but not defined herein have the same meaning given to
them as set out in the Scrip Dividend Alternative Circular.
This announcement is not an offer of securities for sale in any
jurisdiction. The distribution of this announcement and the Scrip
Circular (and any accompanying documents) in certain jurisdictions
(including the United States of America, Canada, Japan, New Zealand
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,
neither this announcement nor the Scrip Circular (nor the
accompanying documents) may be distributed or published in, into or
within any jurisdiction except under circumstances that will result
in compliance with any applicable laws and regulations. Persons
into whose possession this announcement or the Scrip Circular (or
the accompanying documents) 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.
Prices and values of, and income from, shares may go down as
well as up and an investor may not get back the amount invested. It
should be noted that past performance is no guide to future
performance. Persons needing advice should consult an independent
financial adviser.
LEI code: 213800NURUF5W8QSK566
Enquiries:
Sirius Real Estate +49 (0)30 285010110
Andrew Coombs, CEO
Alistair Marks, CFO
Novella +44 (0)20 3151 7008
Tim Robertson
Toby Andrews
Background to Sirius Real Estate:
Sirius is a property company listed on the Main Market and
premium segment of the London Stock Exchange and the Main Board of
the Johannesburg Stock Exchange. It is a leading operator of
branded business parks, providing conventional space and flexible
workspace in Germany. The Company's core strategy is the
acquisition of industrial and office business parks at attractive
yields, the integration of these business parks into its network of
sites under the Company's own name as well as offering a range of
branded products within those sites, and the reconfiguration and
upgrade of existing and vacant space to appeal to the local market
through intensive asset management and investment. The Company's
strategy aims to deliver attractive returns for shareholders by
increasing rental income and improving cost recoveries and capital
values, as well as by enhancing those returns through financing its
assets on favourable terms. Once sites are mature and net income
and values have been optimised, the Company may take the
opportunity to refinance the sites to release capital for
investment in new sites or consider the disposal of sites in order
to recycle equity into assets which present greater opportunity for
the asset management skills of the Company's team.
For more information, please visit:
www.sirius-real-estate.com.
Images of the Sirius property portfolio are available from:
https://www.flickr.com/photos/sirius_re/.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DIVUGUPCQUPRGWR
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