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Update to Notice of Interim Dividend for Shareholders on the South African Register
Primary Health Properties PLC
(Incorporated in the United Kingdom)
Company Number: 3033634
LSE Share Code: PHP
JSE Share Code: PHP
ISIN Code: GB00BYRJ5J14
LEI: 213800Y5CJHXOATK7X11
("PHP" or the "Company")
Update to Notice of Interim Dividend for Shareholders on the South African Register
The Company announces that the first quarterly interim dividend in 2024 of 1.725 pence per ordinary
share of 12.5 pence each will be paid as to 1.45 pence by way of a Property Income Distribution ("PID")
and the remainder as an ordinary dividend on 23 February 2024 to shareholders on the register on 12
January 2024.
Certain qualifying shareholders may receive PIDs without deduction of withholding tax and further
details are available on the Company's website www.phpgroup.co.uk.
The Company also confirms, further to its announcement on RNS on 5 January 2023, that shareholders
on the UK share register ("UK Shareholders") may participate in a dividend reinvestment plan ("DRIP")
in respect of the current interim dividend and any future dividends. The DRIP is provided by Equiniti
Financial Services Limited ("Equiniti FS") and administered by PHP's registrars, Equiniti Limited
("Equiniti"), and provides UK Shareholders with the opportunity to reinvest dividend payments to
purchase additional ordinary shares in PHP in the market. The DRIP is currently not available to
shareholders on the South African ("SA") share register ("SA Shareholders"). SA Shareholders will
receive the first quarterly interim dividend in cash.
UK Shareholders who hold their ordinary shares in certificated form and who wish to participate in the
DRIP will need to ensure that a completed DRIP Application Form is received by Equiniti no later than
5:00pm UK time on 2 February 2024 (the "Election Date"). Shareholders who hold their ordinary shares
in CREST and who wish to participate in the DRIP must do so by submitting an election by CREST
input message by the Election Date.
The key dates for the dividend are detailed in the timetable below.
Timetable
Last day to trade (SA Shareholders) Tuesday, 9 January 2024
Ex-dividend date (SA Shareholders) Wednesday, 10 January 2024
Last day to trade (UK Shareholders) Wednesday, 10 January 2024
Ex-dividend date (UK Shareholders) Thursday, 11 January 2024
Record Date Friday, 12 January 2024
Latest date for receipt by Equiniti of DRIP Application 5.00 p.m. UK time on Friday, 2
Forms and input of CREST elections (UK Shareholders) February 2024
Dividend payment date – CSDP/broker accounts Friday, 23 February 2024
credited/updated//CREST credit date
Estimated DRIP purchase date (UK Shareholders) Friday, 23 February 2024
DRIP shares credited/certificates posted Wednesday, 28 February 2024
(UK Shareholders)
The above dates and times are subject to change. Any changes will be released on RNS and SENS as
soon as practically possible.
To facilitate settlement of the dividend to entitled SA Shareholders, share certificates may not be
dematerialised or rematerialised between Wednesday, 10 January 2024 and Friday, 12 January 2024.
No transfers of shares shall be registered in the SA share register, or between the SA share register
and the UK share register, between Thursday, 4 January 2024 and Friday, 12 January 2024. All dates
are inclusive.
Shareholders receiving the dividend in cash
SA Shareholders are advised that the exchange rate for the dividend will be 23.7 ZAR to 1.00 GBP (the
"Exchange Rate"), resulting in a gross local dividend amount of 40.88250 ZAR cents per share. The
aforesaid rate was fixed by the Company at close of business on 3 January 2024. The date on which
the Sterling payment will be converted to ZAR will be 15 January 2024.
Accordingly, shareholders will be paid a cash dividend per share as follows:
Dividend UK Shareholders SA Shareholders
(GBP pence) (ZAR cents)
Total (gross) 1.725 40.88250
Gross amount of PID 1.45 34.36500
Less 20% UK withholding tax* 0.29 6.87300
Net PID dividend payable** 1.16 27.49200
Less effective 5% SA dividends tax for SA N/A 1.71825
Shareholders***
Net PID dividend payable*** 1.16 25.77375
Non-PID dividend payable 0.275 6.51750
Less 20% SA dividends tax**** N/A 1.30350
Net non PID dividend payable 0.275 5.21400
* Certain categories of UK Shareholders may apply for exemption, in which case the PID element will be paid gross of UK
withholding tax.
** Net position after deducting UK withholding tax for both UK and SA Shareholders, but before SA Shareholders have claimed
back 5% from His Majesty's Revenue & Customs under the double tax agreement between the United Kingdom and South Africa
in respect of the UK withholding tax.
*** SA dividends tax applies at the rate of 20% for SA Shareholders, but SA Shareholders receive a rebate of the UK withholding
taxes suffered (which is effectively 15%, after taking into account the 5% rebate referred to in **).
**** SA dividends tax applies at the rate of 20% for SA Shareholders if an exemption does not exist.
Legal Entity Identifier: 213800Y5CJHXOATK7X11
For further information:
Primary Health Properties PLC
Richard Howell, Chief Financial Officer +44(0) 776 6072 272
Toby Newman, Company Secretary & Chief Legal Officer +44(0) 772 9047 959
The Company has a primary listing on the London Stock Exchange and a secondary listing on the JSE Limited.
United Kingdom
5 January 2024
Sponsor: PSG Capital
Date: 05-01-2024 01:00:00
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