Sirius Real Estate Limited Scrip Dividend Reference Price and Conversion Rate (1077K)

TIDMSRE

RNS Number : 1077K

Sirius Real Estate Limited

04 July 2017

4 July 2017

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) a Form of Scrip Election and Form of Currency Election are being posted today 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 26 June 2017 
------------------------------------  --------------------- 
 Despatch the Scrip Circular           Tuesday 4 July 2017 
  and Form of Election and 
  announce the despatch on 
  RNS 
------------------------------------  --------------------- 
 Announcement of Reference             Tuesday 4 July 2017 
  Price for the New Shares 
  and the Euro to Sterling 
  Conversion Rate released 
  on RNS 
------------------------------------  --------------------- 
 Last day to trade in order            Wednesday 12 July 
  to be eligible for the cash           2017 
  dividend or alternatively 
  the scrip dividend 
------------------------------------  --------------------- 
 Shares commence trading               Thursday 13 July 
  ex the cash dividend or               2017 
  scrip dividend (the UK Ex-Dividend 
  Date) 
------------------------------------  --------------------- 
 Record Date for UK Shareholders       Friday 14 July 2017 
------------------------------------  --------------------- 
 Deadline by which election            5.00 p.m. (UK time) 
  to receive the New Shares             on Friday 28 July 
  or election to receive dividend       2017 
  entitlements in Sterling 
  must have been received 
  by the Registrars (Election 
  Return Date) 
------------------------------------  --------------------- 
 Announcement on RNS of the            Monday 7 August 2017 
  number of New Shares issued 
------------------------------------  --------------------- 
 Despatch scrip dividend               Thursday 17 August 
  share certificates, Final             2017 
  Dividend cheques and tax 
  vouchers 
------------------------------------  --------------------- 
 CREST accounts credited               Friday 18 August 
  and/or updated with the               2017 
  Final Dividend payment in 
  cash and/or New Shares 
------------------------------------  --------------------- 
 Admission of New Shares               Friday 18 August 
  to the premium segment of             2017 
  the Official List and to 
  trading on Main Market 
------------------------------------  --------------------- 
 Final Dividend Payment Date           Friday 18 August 
                                        2017 
------------------------------------  --------------------- 
 

For shareholders on the South African Share Register:

 
 Announcement of Final             Monday 26 June 2017 
  Dividend 
--------------------------------  -------------------------- 
 Despatch the Scrip Circular       Tuesday 4 July 2017 
  and Form of Election 
  and announce the despatch 
  on SENS 
--------------------------------  -------------------------- 
 Announcement of Reference         Tuesday 4 July 2017 
  Price for the New Shares 
  and the Euro to Rand 
  Conversion Rate released 
  on SENS 
--------------------------------  -------------------------- 
 Last day to trade in              Tuesday 11 July 2017 
  order to be eligible 
  for the cash dividend 
  or alternatively the 
  scrip dividend 
--------------------------------  -------------------------- 
 Shares commence trading           Wednesday 12 July 2017 
  ex the cash dividend 
  or scrip dividend (the 
  SA Ex-Dividend Date) 
--------------------------------  -------------------------- 
 Record Date for SA Shareholders   Friday 14 July 2017 
--------------------------------  -------------------------- 
 Deadline by which election        12.00 noon (South African 
  to receive the New Shares         time) on Friday 14 July 
  must have been received           2017 
  by the Transfer Secretaries 
  (Election Return Date) 
--------------------------------  -------------------------- 
 Announcement on SENS              Monday 7 August 2017 
  of the number of New 
  Shares issued 
--------------------------------  -------------------------- 
 Participant/broker accounts       Friday 18 August 2017 
  credited and/or updated 
  with the Final Dividend 
  payment in cash and/or 
  New Shares 
--------------------------------  -------------------------- 
 Despatch scrip dividend           Friday 18 August 2017 
  share certificates, Final 
  Dividend cheques and 
  tax vouchers 
--------------------------------  -------------------------- 
 Listing and admission             Friday 18 August 2017 
  of New Shares to trading 
  on the JSE 
--------------------------------  -------------------------- 
 Final Dividend Payment            Friday 18 August 2017 
  Date 
--------------------------------  -------------------------- 
 

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 12 July 2017 and Friday 14 July 2017, both days inclusive, nor may transfers of shares between sub-registers in the United Kingdom and South Africa take place between Tuesday 4 July 2017 and Friday 14 July 2017, both days inclusive.

The Final Dividend has been declared in Euro. Shareholders on the UK Share Register may elect to receive their entitlement to the Final Dividend in cash in either Euro or Sterling. Shareholders on the UK Share Register that do not make a valid Sterling currency election will receive any entitlement to the cash dividend in Euro. 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 Alternative Circular and accompanying forms, the Scrip Dividend Reference Prices and the conversion rates for the purposes of converting the Final Dividend, which has been authorised in connection with the twelve months ended 31 March 2017, either from Euros into Sterling (for Shareholders on the UK Share Register that elect to receive their full entitlement to the Final Dividend in cash in Euros or that elect to receive New Shares) or from Euros into Rand (for Shareholders on the SA Share Register).

The Scrip Dividend Reference Prices are as follows:

   Shareholders on the UK Share Register:                                GBP0.56211 (Sterling) 
   Shareholders on the SA Share Register:                                R9.39647 (Rand) 

The 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 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 2017 payable to Shareholders on the UK Share Register will be 0.87540 GBP to 1 Euro.

On this basis, Shareholders on the UK Share Register who have elected to receive their entitlement to the Final Dividend in cash in Sterling will receive a gross dividend of GBP0.01339 (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 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 2017 payable to Shareholders on the SA Share Register will be 14.94204 Rand to 1 Euro.

On this basis, Shareholders on the SA Share Register will receive a gross dividend of R0.22861 (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 41.96821 Ordinary Shares held

Shareholders on the SA Share Register: 1 New Share for every 41.10262 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 R0.18289 (Rand) per Ordinary Share. The Company had 878,848,593 Ordinary Shares in issue (comprising 1,062,058 shares held in treasury and 877,786,535 shares with voting rights) on Monday, 26 June 2017, 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.

As set out in the Scrip Circular, South African 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.

For the purposes of South African shareholders, the Scrip Dividend is likely to be regarded as a foreign dividend.

Further Information

Terms used but not defined herein have the same meaning given to them as set out in the Scrip Dividend Alternative Circular.

The distribution of the Scrip Circular 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, the Scrip Circular may not be distributed or published in any jurisdiction except under circumstances that will result in compliance with any applicable laws and regulations. Persons into whose possession the Scrip Circular 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.

LEI code: 213800NURUF5W8QSK566

Enquiries

 
 
  For further information, please 
  contact: 
 
  Sirius Real Estate                  [phone] 
Andrew Coombs, CEO 
 Alistair Marks, CFO 
 
 
                                    [phone] 
Novella                              7008 
Tim Robertson 
 Toby Andrews 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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July 04, 2017 11:30 ET (15:30 GMT)