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Finalisation announcement in respect of the cash dividend for the year ended 31 August 2018
RDI REIT P.L.C.
(formerly Redefine International P.L.C.)
(Incorporated in the Isle of Man)
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
LEI: 2138006NHZUMMRYQ1745
ISIN: IM00B8BV8G91
("RDI" or the "Company")
FINALISATION ANNOUNCEMENT IN RESPECT OF THE CASH DIVIDEND FOR THE YEAR ENDED 31 AUGUST 2018
RDI shareholders are referred to the announcement released on 25 October 2018 regarding the second interim
dividend of 1.35 pence per share in respect of the year ended 31 August 2018 (the "cash dividend").
Shareholders are advised that the GBP to Rand conversion rate is 18.01500. Accordingly, the Rand equivalent of
the cash dividend of 1.35 pence is 24.32025 ZAR cents.
Shareholders will receive the cash dividend calculated as follows:
Shareholders on the Shareholders on the
UK share register SA share register
Non-PID element 0.27 4.86405*
Plus
PID element (gross) 1.08 19.45620
Less 20% UK withholding tax** 0.216 3.89124
PID element (net of 20%) 0.864 15.56496
Less 5% SA withholding tax*** N/A 0.97281
PID element (net of 25%) N/A 14.59215
* South African dividends tax at the rate of 20 per cent will apply to cash non-PIDs paid by the Company, unless the beneficial
owner of the dividend is exempt from dividends tax (e.g. if the beneficial owner is a South African company or a non-South
African resident). Since no withholding tax is suffered in the UK on cash non-PIDs, no rebate can be claimed. The relevant
regulated intermediary will therefore be required to deduct 20 per cent tax on all cash non-PIDs paid to persons who are
not exempt from dividends tax in South Africa and pay this to the South African Revenue Service on the beneficial owner's
behalf. The non-PID element payable to shareholders on the SA share register net of this 20 per cent dividends tax is
3.89124 ZAR cents.
**Certain categories of UK shareholders may apply for exemption, in which case the PID element will be paid gross.
***A 5% rebate is reclaimable from the UK's HM Revenue & Customs, resulting in an effective UK withholding tax rate of
15%. Therefore, an additional 5% South African withholding tax is to be deducted by the relevant regulated intermediary
on all cash PIDs paid to persons who are not exempt from dividends tax in South Africa and paid to the South African
Revenue Service on the beneficial owner's behalf. As a result, the initial withholding tax rate on cash PIDs for non-exempt
South African shareholders will be 25%.
The cash dividend will be paid out of the Company's distributable profits.
The salient dates for payment of the cash dividend published in the announcement dated 25 October 2018, remain
unchanged.
As at the date of this announcement, the Company has 1 900 449 536 ordinary shares of 8 pence each in issue.
For further information:
RDI REIT P.L.C.
Mike Watters, Donald Grant Tel: +44 (0) 20 7811 0100
FTI Consulting
UK Public Relations Adviser
Dido Laurimore, Claire Turvey, Ellie Sweeney Tel: +44 (0) 20 3727 1000
Instinctif Partners
SA Public Relations Adviser
Frederic Cornet Tel: +27 (0) 11 447 3030
JSE Sponsor
Java Capital Tel: + 27 (0) 11 722 3050
Note to editors:
About RDI
RDI is a UK Real Estate Investment Trust (UK-REIT) committed to becoming the UK's leading income focused
REIT. The Company's income-led business model and strategic priorities are designed to offer shareholders
superior, sustainable and growing income returns, with a target growth in underlying earnings per share of
3%-5% across the medium term.
Income sustainability is underpinned by a diversified portfolio and tenant base, with no overreliance on any one
sector or tenant, together with an efficient capital structure. The secure and growing income stream is 27.0%
indexed and has a WAULT of 7.0 years to first break (8.4 years to expiry). This is complemented by an average
debt maturity of 6.7 years of which over 95% of interest costs are either fixed or capped. The Company is focused
on all aspects impacting shareholder distributions and reports one of the lowest cost ratios in the industry whilst
maintaining a low cost of debt.
The Company owns properties independently valued at £1.6bn in the United Kingdom and Germany, Europe's
two largest, liquid and transparent property markets. RDI invests in assets with strong property fundamentals
spread across UK offices (including London serviced offices), UK logistics, UK shopping centres, UK retail
parks, UK hotels and German retail. RDI is well placed to take advantage of the increasing occupier requirement
for real estate owners to become high quality service providers, given its scalable operational platforms and nearly
a third of the portfolio invested in hotels and London serviced offices.
RDI holds a primary listing on the London Stock Exchange and a secondary listing on the JSE and is included
within the EPRA, GPR, JSE All Property and JSE Tradeable Property indices.
For more information on RDI, please refer to the Company's website www.rdireit.com
All figures as at 31 August 2018.
20 November 2018
JSE Sponsor
Java Capital
Date: 20/11/2018 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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