Schroder Eur Real Est Inv Trust PLC Change in SA Dividend Withholding Tax Rate (0884Y)

TIDMSERE

RNS Number : 0884Y

Schroder Eur Real Est Inv Trust PLC

28 February 2017

28 February 2017

CHANGE IN SOUTH AFRICAN DIVIDEND WITHHOLDING TAX RATE

The Board of Schroder European Real Estate Investment Company plc (the "Company") notes the announcement by the South African Minister of Finance on 22 February 2017, advising that the South African dividend withholding tax rate has been increased from 15 per cent to 20 per cent, effective for South African dividends declared with a payment date on or after 22 February 2017.

On 9 February 2017, the Company announced its first interim dividend for the period to 30 September 2017 of 1.0 euro cents per share. While the dividend declaration timetable will remain unchanged, South African shareholders are hereby advised that the net dividend amount announced on 21 February 2017 has now been adjusted to take account of the increased withholding tax rate, as set out below.

 
 Declared dividend    Exchange   Dividend in South African 
                        rate          cents per share 
-------------------  ---------  -------------------------- 
   1.0 euro cents 
      per share       13.85250           13.85250 
-------------------  ---------  -------------------------- 
 

Dividend tax will be withheld from the amount of the gross dividend of 13.85250 South African cents per share paid to shareholders on the South African register at the rate of 20 per cent unless a shareholder qualifies for exemption.

After the dividend tax has been withheld, the net dividend will be 11.08200 South African cents per share.

For the avoidance of doubt, dividend tax, and therefore the information provided in this announcement, is only of direct application to shareholders on the South African register.

Enquiries:

Duncan Owen/Tony Smedley

Schroder Real Estate Investment Management Limited Tel: [phone]

Ria Vavakis

Schroder Investment Management Limited Tel: [phone]

Dido Laurimore

FTI Consulting Tel: [phone]

Shareholders on the South African branch register should direct any questions regarding the application of the dividend tax to the Company's Transfer Secretary:

Computershare Investor Services (Pty) Limited

Rosebank Towers, 15 Biermann Avenue

Rosebank, 2196, South Africa

Postal Address - PO Box 61051

Marshalltown 2107

Telephone [phone]

Facsimile [phone]

Email enquiries: [e-mail]

This information is provided by RNS

The company news service from the London Stock Exchange

END

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February 28, 2017 09:00 ET (14:00 GMT)