SIRIUS REAL ESTATE LIMITED - Scrip Dividend Reference Price and Conversion Rate

Scrip Dividend Reference Price and Conversion Rate

SIRIUS REAL ESTATE LIMITED
(Incorporated in Guernsey)
Company Number: 46442
Share Code: SRE
ISIN Code: ISIN GG00B1W3VF54
("Sirius Real Estate" or the "Company")



                                                                                        1 June 2015

                       Scrip Dividend Reference Price and Conversion Rate

As set out in the Scrip Dividend Alternative Circular posted to shareholders on 29 May 2015, Sirius
Real Estate today announces the Scrip Dividend Reference Prices and the Conversion Rate for the
purposes of converting the final Dividend declared in connection with the year ended 31 March 2015
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:          48.685 cents (Euro)
Shareholders on the SA Share Register:          647.56225 cents (Rand)

The number of New Shares, which Shareholders electing to take the Scrip Dividend Alternative will
therefore receive, are as follows:
Shareholders on the UK Share Register: 1 New Share for every 57.95833 ordinary shares held
Shareholders on the SA Share Register: 1 New Share for every 57.88137 ordinary shares held

The Conversion Rate
The Conversion Rate (which will also be the Euro to Rand Conversion Rate in the Scrip Dividend
Alternative Circular) for the purposes of calculating the final Dividend declared in connection with
the year ended 31 March 2015 payable to Shareholders on the SA Share Register will be 13.31875
ZAR to 1 EUR.

On this basis, Shareholders on the SA Share Register will receive a dividend of 11.18775 cents (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.

In accordance with the requirements of the JSE, the Company confirms that any cash dividend
received by South African Shareholders who are not exempt from dividend withholding tax, is
expected to be 9.50959 cents (Rand) per ordinary share. As set out in the Scrip Dividend Alternative
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.

Copies of the Scrip Dividend Alternative Circular have been posted to the Company’s Shareholders
and are available on the Company's website: www.sirius-real-estate.com
Enquiries:

Sirius Real Estate
Andrew Coombs, CEO    +49 (0)30 285010110
Alistair Marks, CFO

Peel Hunt
Capel Irwin           +44 (0)20 7418 8900
Hugh Preston

PSG Capital
David Tosi            +27 (0)21 887 9602
Willie Honeyball

Finncap
Stuart Andrews        +44 (0)20 7220 0500
Paul Harrington

Novella
Tim Robertson         +44 (0)20 3151 7008
Ben Heath

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