Hammerson PLC Hammerson Scrip Reference Share Price (8458I)

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RNS Number : 8458I

Hammerson PLC

02 September 2016

Hammerson plc (the "Company")

2 September 2016

The Hammerson Scrip Dividend Scheme - Scrip Reference Share Price

On 25 July 2016, the Company announced its half-year results for the six months ended 30 June 2016 and declared an interim dividend of 10.1p (the "Interim Dividend") which will be treated entirely as a Property Income Distribution ("PID") and will be paid on 10 October 2016 to shareholders on the Company register at the close of business on 26 August 2016 ("Record Date"). Shareholders who acquired ordinary shares in the Company after the Record Date, which would include all shareholders who acquired ordinary shares in the Company on the Johannesburg Stock Exchange (the "JSE") following the Company's listing on the JSE on 1 September 2016 (the "Secondary Listing"), may not participate in the Interim Dividend. Shareholders who held ordinary shares in the Company on the Record Date and who migrated all or a portion of that shareholding to the JSE following the Secondary Listing will be entitled to participate in the Interim Dividend, but such dividend will be paid in Pound Sterling in terms of payment instructions that were in place as at the Record Date.

We also announced that the Company would again be offering shareholders the opportunity to participate in the Hammerson Scrip Dividend Scheme (the "Scheme"). Shareholders electing to participate in the Scheme (including shareholders who held ordinary shares in the Company on the Record Date and who migrated all or a portion of that shareholding to the JSE following the Secondary Listing) will, for the Interim Dividend, receive new ordinary shares in the Company listed on the London Stock Exchange (the "LSE") instead of cash, and the entire dividend will be treated as a PID, net of withholding tax where appropriate. An equivalent number of new shares that will be listed on the LSE pursuant to the Scheme will also be listed on the JSE.

The Scrip Reference Share Price which will be used in calculating the number of new ordinary shares is 579.0p.

This figure is equal to the average of the closing middle market quotations derived from the Daily Official List of the LSE for the five dealing days commencing on Thursday 25 August 2016, being the day on which the Company's ordinary shares were first quoted "ex dividend".

A guide containing the terms and conditions of the Scheme (the "Guide") is available on the Company's website. A circular summarising how shareholders can participate in the Scheme will be posted to shareholders on Monday 5 September 2016 (the "Circular") and will also be available on the Company's website, www.hammerson.com/investors.

The deadline by which shareholders can elect to participate in the Scheme is Monday 19 September 2016. As further detailed in the Circular, the timetable for the Interim Dividend is as follows:

 
        DATE                            EVENT 
--------------------  ---------------------------------------- 
 Thursday 25           Ex-dividend date 
  August 2016 
 Friday 26 August      Dividend Record Date 
  2016 
 Monday 19 September   Last date for Capita Asset 
  2016                  Services to receive Mandates 
                        from shareholders holding certificated 
                        shares electing to participate 
                        in the Scheme 
                        Last date for shareholders 
                        holding uncertificated shares 
                        on CREST to elect to participate 
                        in the Scheme 
 Monday 10 October     Dividend Payment Date 
  2016                  Expected date of issue, admission 
                        and first day of dealings in 
                        the new shares on the LSE 
                        Expected date of listing on 
                        the JSE of the equivalent number 
                        of new shares that will be 
                        listed on the LSE pursuant 
                        to the Scheme 
--------------------  ---------------------------------------- 
 

Defined terms used in this announcement have the same meaning as in the Guide.

This announcement has also been released on the Stock Exchange News Service of the JSE.

Sarah Booth

General Counsel and Company Secretary

This information is provided by RNS

The company news service from the London Stock Exchange

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September 02, 2016 07:48 ET (11:48 GMT)