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Notice to Redefine International shareholders in respect of an election to receive either a cash dividend or a scrip
REDEFINE INTERNATIONAL P.L.C.
(Incorporated in the Isle of Man)
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00B8V8G91
(“Redefine International” or the “Company”)
NOTICE TO REDEFINE INTERNATIONAL SHAREHOLDERS IN RESPECT OF AN ELECTION
TO RECEIVE EITHER A CASH DIVIDEND OR A SCRIP DIVIDEND
CASH DIVIDEND OR SCRIP DIVIDEND
Shareholders were advised today Wednesday, 29 October 2014 that the board of directors (the “board”) of the Company
has declared a second interim dividend of 1.70 pence per share (the “dividend”) in respect of the six months ended
31 August 2014 and that the board intends offering to shareholders the election to receive a scrip dividend by way of an
issue of new Redefine International shares (of the same class as existing shares) credited as fully paid up (“scrip
dividend”) or a cash dividend (“cash dividend”). The total dividend paid will be subject to the following parameters:
- A property income distribution (“PID”) element of 1.16 pence per share and a non-PID element of 0.54 pence per
share. The PID will be subject to a deduction of a 20 per cent UK withholding tax unless exemptions apply. The
non-PID element will be treated as an ordinary UK dividend, with no withholding tax deducted.
- The non-PID element will first accrue to the Shareholders who make an election to receive shares and thereafter
pro-rata to the cash dividend if any non-PID element is remaining.
A cash dividend will be paid to shareholders unless shareholders elect to receive the scrip dividend. Should a shareholder
elect to receive the scrip dividend, such shareholder will become entitled to a number of new Redefine International
shares, the value of which will be as near as possible to the cash dividend which they would have otherwise received. A
shareholder’s entitlement to new Redefine International shares will be calculated by multiplying the number of shares
held by that shareholder at the record date by the gross dividend per share of 1.70 pence and dividing it by the scrip
dividend reference price which will be calculated as follows:
- for Redefine International shares traded on the LSE, the average of the middle market quotations of a Redefine
International share derived from the daily Official List for the last five dealing days prior to the announcement of
the Pound Sterling to Rand conversion rate, less the amount of the dividend per Redefine International share; and
- for Redefine International shares traded on the JSE, the average of the middle market quotations of a Redefine
International share as provided by the JSE for the last five dealing days on the JSE prior to the announcement of
the Pound Sterling to Rand conversion rate, less the amount of the dividend per Redefine International share as
converted into Rand at the exchange rate.
Where UK withholding tax has to be accounted for, the calculation will be by reference to the gross amount of the
dividend per share less the current applicable withholding tax rate of 20 per cent.
The rationale for the scrip dividend is to afford shareholders the opportunity to increase their shareholding in Redefine
International and to retain flexibility with regard to the Company’s cash resources.
The cash dividend will be paid out of the Company’s distributable profits.
As at the date of this announcement, the Company had 1,296,097,349 ordinary shares of 8 pence each in issue.
A circular to Redefine International shareholders in respect of the election being offered to Redefine International
shareholders to receive either the cash dividend or the scrip dividend, together with an election form, has been posted to
shareholders on Wednesday, 29 October 2014 (the “circular”) and is available on the Company’s website at
www.redefineinternational.com. Terms defined in the circular shall bear the same meaning in this announcement.
SALIENT DATES AND TIMES
For shareholders on the UK share register
2014
Announcement of scrip dividend reference price released on RNS on or Thursday, 6 November
before
Last day to trade in order to be eligible for the cash dividend or Wednesday, 19 November
alternatively the scrip dividend on
Shares commence trading ex the cash dividend or scrip dividend on Thursday, 20 November
Record date for shareholders recorded on the UK share register Friday, 21 November
Closing date for receipt of completed election forms by no later than Friday, 21 November
10:00 on
Announcement on RNS of the amount of new Redefine International Friday, 5 December
shares issued in terms of the scrip dividend
Dispatch of share certificates, payment of cash dividend, CREST Friday, 5 December
accounts credited/updated and new Redefine International shares listed
on the LSE on
Notes:
1. All dates and times quoted above are local dates and times in the United Kingdom. The above dates and times are subject to change. Any
changes will be released on RNS.
2. Redefine International shareholders are referred to the circular for information on the action required to be taken by them.
3. Shares may not be dematerialised or rematerialised, nor may transfers of shares between sub-registers in the United Kingdom and South
Africa take place between Monday, 17 November 2014 and Friday, 21 November 2014 both days inclusive.
For shareholders on the SA share register
2014
Announcement of Pounds Sterling to Rand conversion rate and scrip Thursday, 6 November
dividend reference price released on SENS on or before
Last day to trade in order to be eligible for the cash dividend or Friday, 14 November
alternatively the scrip dividend on
Shares commence trading ex the cash dividend or scrip dividend on Monday, 17 November
Record date for shareholders recorded on the SA share register Friday, 21 November
Closing date for receipt of completed election forms by no later than Friday, 21 November
12:00 on
Announcement on SENS of the amount of new Redefine International Friday, 5 December
shares issued in terms of the scrip dividend
Dispatch of share certificates, payment of cash dividend, CSDP/broker Friday, 5 December
accounts credited/updated and new Redefine International shares listed
on the JSE on
{R233/00150300.DOC/ANNOUNCE/SN}
Notes:
1. All dates and times quoted above are local dates and times in South Africa. The above dates and times are subject to change. Any changes
will be released on SENS.
2. Redefine International shareholders are referred to the circular for information on the action required to be taken by them.
3. Shareholders should note that new Redefine International shares should not be traded until the new Redefine International shares
are issued or reflect in their accounts with their CSDP or broker on Friday, 5 December 2014.
4. Share certificates may not be dematerialised or rematerialised nor may transfers of shares between sub-registers in the United Kingdom and
South Africa take place between Monday, 17 November 2014 and Friday, 21 November 2014 both days inclusive.
5. Shareholders on the SA share register will receive a cash dividend in South African Rand, based on the exchange rate to be obtained by the
Company on or before Thursday, 6 November 2014. An announcement in this respect will be made on or before Thursday,
6 November 2014.
Redefine International is a UK REIT with a primary listing on the London Stock Exchange and a secondary listing on the
Johannesburg Stock Exchange.
29 October 2014
JSE Sponsor
Java Capital
Date: 29/10/2014 09:45:00 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.
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