CAPITAL & COUNTIES PROPERTIES PLC - Conversion to a UK Real Estate Investment Trust

Conversion to a UK Real Estate Investment Trust

Capital & Counties Properties PLC
(Incorporated and registered in the United Kingdom and Wales with registration Number
07145041 and registered in South Africa as an external company with Registration Number
2010/003387/10)
ISIN: GB00B62G9D36
JSE code: CCO

9 December 2019

CAPITAL & COUNTIES PROPERTIES PLC (“Capco” or the “Company”)

CONVERSION TO A UK REAL ESTATE INVESTMENT TRUST (“REIT”)

Following the announcement on 2 December 2019, Capco confirms that it has elected to join
the UK REIT regime with effect from 9 December 2019. The Capco group will therefore no
longer pay UK direct tax on profits and gains from qualifying rental business provided that
certain conditions are met.

Information on the UK REIT regime can be found on the Company’s website at the link below
and a hard copy of the information is available from the Company on request. Further
information will be provided to shareholders with the Company’s Annual Report for the year
ending 31 December 2019.

https://www.capitalandcounties.com/uk-real-estate-investment-trust-reit

Shareholders should seek independent tax advice if they are in any doubt of the implications
of the REIT conversion on their tax position.

Enquiries:

Ruth Pavey
Company Secretary
Capital & Counties Properties PLC

Tel: + 44 (0) 20 3214 9170

JSE Sponsor:
Merrill Lynch South Africa (Pty) Limited

Date: 09-12-2019 02:30:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.