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SIRIUS REAL ESTATE LIMITED - Posting of Scrip Dividend Alternative Circular and Scrip Dividend Reference Price and Conversion Rate

Release Date: 27/11/2015 17:30
Code(s): SRE     PDF:  
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Posting of Scrip Dividend Alternative Circular and 
Scrip Dividend Reference Price and Conversion Rate

SIRIUS REAL ESTATE LIMITED
(Incorporated in Guernsey)
Company Number: 46442
Share Code: SRE
ISIN Code: ISIN GG00B1W3VF54

                                                                                     27 November 2015

                                        Sirius Real Estate Limited
                                ("Sirius Real Estate" or the "Company")

                          Posting of Scrip Dividend Alternative Circular and
                         Scrip Dividend Reference Price and Conversion Rate

Sirius Real Estate is pleased to confirm that the Scrip Dividend Alternative Circular and Form of Election
were posted to shareholders on 24 November 2015 and are available on the Company's website:
www.sirius-real-estate.com.

An overview timetable of events relating to the Scrip Dividend Alternative is set out below:

For shareholders on the UK Share Register

 Announcement of Dividend                                                           23 November 2015
 Despatch the Scrip Dividend Alternative                                            24 November 2015
 Circular and Form of Election
 Announcement of Reference Price for the Scrip                                      27 November 2015
 Dividend Shares released on RNS
 (this announcement)
 Last day to trade in order to be eligible for the                                  16 December 2015
 cash dividend or alternatively the scrip dividend
 Shares commence trading ex the cash dividend                                       17 December 2015
 or scrip dividend
 Record Date for UK Shareholders                                                    18 December 2015
 Latest time for receipt of Proxy Forms                     11.00 a.m. (UK time) on 15 December 2015
 Extraordinary General Meeting                              11.00 a.m. (UK time) on 17 December 2015
 Deadline by which election to receive the Scrip               5.00 p.m. (UK time) on 6 January 2016
 Dividend Shares must have been received by
 the Registrars (Election Return Date)
 Announcement on RNS of the number of New                                           14 January 2016
 Shares issued
 Despatch Interim Dividend cheques and tax                                          19 January 2016
 vouchers
 Despatch Scrip Dividend Share certificates                                         19 January 2016
 CREST accounts credited and/or updated with                                        20 January 2016
 the Interim Dividend payment in cash and/or
 Scrip Dividend Shares
 Admission of Scrip Dividend Shares to trading                                      20 January 2016
 on AIM
 Interim Dividend Payment Date                                                      20 January 2016
 

 For shareholders on the South African Share Register

 Announcement of Dividend                                                          23 November 2015
 Despatch the Scrip Dividend Alternative                                           24 November 2015
 Circular and Form of Election
 Announcement of Reference Price for the Scrip                                     27 November 2015
 Dividend Shares and the Euro to Rand
 Conversion Rate released on SENS
 (this announcement)
 Last day to trade in order to be eligible for the                                 10 December 2015
 cash dividend or alternatively the scrip dividend
 Shares commence trading ex the cash dividend                                      11 December 2015
 or scrip dividend
 Record Date for SA Shareholders                                                   18 December 2015
 Deadline by which election to receive the Scrip              12.00 noon (South African time) on 18
 Dividend Shares must have been received by                                           December 2015
 the Transfer Secretaries (Election Return Date)
 Latest time for receipt of Proxy Forms                        1.00 p.m. (South African time) on 15
                                                                                      December 2015
 Extraordinary General Meeting                                 1.00 p.m. (South African time) on 17
                                                                                      December 2015
 Announcement on SENS of the number of New                                          14 January 2016
 Shares issued  
 CSDP/broker accounts credited and/or updated                                       20 January 2016
 with the Interim Dividend payment in cash
 and/or Scrip Dividend Shares
 Despatch Scrip Dividend Share certificates,                                        20 January 2016
 Interim Dividend cheques and tax vouchers
 Admission of Scrip Dividend Shares to trading                                      20 January 2016
 on JSE
 Interim Dividend Payment Date                                                      20 January 2016


As set out in the Scrip Dividend Alternative Circular, Sirius Real Estate today announces the Scrip
Dividend Reference Prices and the Conversion Rate for the purposes of converting the Interim
Dividend declared in connection with the six months ended 30 September 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:           51.78 cents (Euro)

Shareholders on the SA Share Register:           794.22888 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 56.28261 Ordinary Shares held

Shareholders on the SA Share Register:           1 New Share for every 56.84790 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 Interim Dividend declared in connection with
the six months ended 30 September 2015 payable to Shareholders on the SA Share Register will be
15.186 Rand to 1 Euro.

On this basis, Shareholders on the SA Share Register will receive a dividend of 13.97112 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 SA Shareholders who are not exempt from dividend withholding tax, is expected to be
11.87545 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.

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

Canaccord
Bruce Garrow                                                     +44 (0)20 7523 8000
Chris Connors
Mark Whitmore

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

Date: 27/11/2015 05:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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