Capital & Regional plc Update on Dividend Finalisation Announcement (3900D)

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

DIVOKADQFBKKOQB

(END) Dow Jones Newswires

April 26, 2017 06:00 ET (10:00 GMT)