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SIRIUS REAL ESTATE LIMITED - Posting Of Scrip Dividend Alternative Circular And Scrip Dividend Reference Price And Exchange Rate

Release Date: 04/07/2017 17:30
Code(s): SRE     PDF:  
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Posting Of Scrip Dividend Alternative Circular And Scrip Dividend Reference Price And Exchange Rate

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




                                                                                                        4 July 2017

                                              Sirius Real Estate Limited

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

                                 Posting of Scrip Dividend Alternative Circular and

                               Scrip Dividend Reference Prices and Conversion Rates

Sirius Real Estate is pleased to confirm that the Scrip Dividend Alternative Circular and (if appropriate) a Form of
Scrip Election and Form of Currency Election are being posted today to Shareholders 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 Final Dividend                                    Monday 26 June 2017

 Despatch the Scrip Circular and Form of Election and              Tuesday 4 July 2017
 announce the despatch on RNS

 Announcement of Reference Price for the New Shares and            Tuesday 4 July 2017
 the Euro to Sterling Conversion Rate released on RNS

 Last day to trade in order to be eligible for the cash dividend   Wednesday 12 July 2017
 or alternatively the scrip dividend

 Shares commence trading ex the cash dividend or scrip             Thursday 13 July 2017
 dividend (the UK Ex-Dividend Date)

 Record Date for UK Shareholders                                   Friday 14 July 2017

 Deadline by which election to receive the New Shares or           5.00 p.m. (UK time) on Friday 28 July 2017
 election to receive dividend entitlements in Sterling must
 have been received by the Registrars (Election Return Date)

 Announcement on RNS of the number of New Shares issued            Monday 7 August 2017

 Despatch scrip dividend share certificates, Final Dividend        Thursday 17 August 2017
 cheques and tax vouchers
 CREST accounts credited and/or updated with the Final            Friday 18 August 2017
 Dividend payment in cash and/or New Shares

 Admission of New Shares to the premium segment of the            Friday 18 August 2017
 Official List and to trading on Main Market

 Final Dividend Payment Date                                      Friday 18 August 2017


For shareholders on the South African Share Register:


 Announcement of Final Dividend                                    Monday 26 June 2017

 Despatch the Scrip Circular and Form of Election and             Tuesday 4 July 2017
 announce the despatch on SENS

 Announcement of Reference Price for the New                      Tuesday 4 July 2017
 Shares and the Euro to Rand Conversion Rate
 released on SENS

 Last day to trade in order to be eligible for the cash           Tuesday 11 July 2017
 dividend or alternatively the scrip dividend

 Shares commence trading ex the cash dividend or                  Wednesday 12 July 2017
 scrip dividend (the SA Ex-Dividend Date)

 Record Date for SA Shareholders                                  Friday 14 July 2017

 Deadline by which election to receive the New                   12.00 noon (South African time) on Friday 14 July
 Shares must have been received by the Transfer                  2017
 Secretaries (Election Return Date)

 Announcement on SENS of the number of New                        Monday 7 August 2017
 Shares issued

 Participant/broker accounts credited and/or                      Friday 18 August 2017
 updated with the Final Dividend payment in cash
 and/or New Shares

 Despatch scrip dividend share certificates, Final               Friday 18 August 2017
 Dividend cheques and tax vouchers

 Listing and admission of New Shares to trading on               Friday 18 August 2017
 the JSE

 Final Dividend Payment Date                                     Friday 18 August 2017


Notes

The above dates and times are subject to change. Any changes will be released on RNS and SENS.
Share certificates may not be dematerialised or rematerialised between Wednesday 12 July 2017 and Friday 14 July
2017, both days inclusive, nor may transfers of shares between sub-registers in the United Kingdom and South Africa
take place between Tuesday 4 July 2017 and Friday 14 July 2017, both days inclusive.

The Final Dividend has been declared in Euro. Shareholders on the UK Share Register may elect to receive their
entitlement to the Final Dividend in cash in either Euro or Sterling. Shareholders on the UK Share Register that do
not make a valid Sterling currency election will receive any entitlement to the cash dividend in Euro. Shareholders
on the South African Share Register (SA Share Register) will receive any entitlement to the cash dividend in Rand.

As set out in the Scrip Dividend Alternative Circular, Sirius Real Estate today announces the posting of the Scrip
Alternative Circular and accompanying forms, the Scrip Dividend Reference Prices and the conversion rates for the
purposes of converting the Final Dividend, which has been authorised in connection with the twelve months ended
31 March 2017, either from Euros into Sterling (for Shareholders on the UK Share Register that elect to receive their
full entitlement to the Final Dividend in cash in Euros or that elect to receive New Shares) or 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:                    £0.56211 (Sterling)

Shareholders on the SA Share Register:                   R9.39647 (Rand)

The conversion rate and the Final Dividend authorised in Sterling (UK Share Register only)

Shareholders on the UK Share Register may elect to receive their entitlement to the Final Dividend in cash in either
Euro or Sterling. For Shareholders on the UK Share Register that make a valid Sterling currency election, the
conversion rate for the purposes of calculating the Final Dividend authorised in connection with the year ended 31
March 2017 payable to Shareholders on the UK Share Register will be 0.87540 GBP to 1 Euro.

On this basis, Shareholders on the UK Share Register who have elected to receive their entitlement to the Final
Dividend in cash in Sterling will receive a gross dividend of £0.01339 (Sterling) per Ordinary Share.

Alternatively Shareholders on the UK Share Register may elect to receive new shares by way of the Scrip Dividend
Alternative.

The conversion rate and the Final Dividend authorised in Rand (SA Share Register only)

The conversion rate for the purposes of calculating the Final Dividend authorised in connection with the year ended
31 March 2017 payable to Shareholders on the SA Share Register will be 14.94204 Rand to 1 Euro.

On this basis, Shareholders on the SA Share Register will receive a gross dividend of R0.22861 (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.

The number of New Shares which Shareholders electing to take the Scrip Dividend Alternative will receive are as
follows:

Shareholders on the UK Share Register:                 1 New Share for every 41.96821 Ordinary Shares held

Shareholders on the SA Share Register:                 1 New Share for every 41.10262 Ordinary Shares held
Information for Shareholders on the SA Share Register

In accordance with the Listings Requirements of the JSE, the Company confirms that the net cash dividend received
by SA Shareholders who are not exempt from dividend withholding tax of 20%, is expected to be R0.18289 (Rand)
per Ordinary Share. The Company had 878,848,593 Ordinary Shares in issue (comprising 1,062,058 shares held in
treasury and 877,786,535 shares with voting rights) on Monday, 26 June 2017, the authorisation date of the
dividend. The Company is incorporated in Guernsey with Company number 46442 and its tax registration number in
Guernsey is 1EC.956 and its UK tax number is GB 203993015.

As set out in the Scrip 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.

For the purposes of South African shareholders, the Scrip Dividend is likely to be regarded as a foreign dividend.

Further Information

Terms used but not defined herein have the same meaning given to them as set out in the Scrip Dividend Alternative
Circular.

The distribution of the Scrip Circular in certain jurisdictions (including the United States of America, Canada, Japan,
New Zealand or Australia or their respective territories or possessions (subject to applicable exemptions)) other than
the United Kingdom, South Africa and Guernsey may be restricted by law. Accordingly, the Scrip Circular may not be
distributed or published in any jurisdiction except under circumstances that will result in compliance with any
applicable laws and regulations. Persons into whose possession the Scrip Circular comes should inform themselves
about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of
the securities laws of any such jurisdiction.

LEI code: 213800NURUF5W8QSK566

Enquiries

For further information, please contact:
                                                                                +49 (0)30 285010110
Sirius Real Estate
Andrew Coombs, CEO
Alistair Marks, CFO


Novella                                                                         +44 (0)20 3151 7008
Tim Robertson
Toby Andrews

JSE Sponsor:
PSG Capital

Date: 04/07/2017 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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