Wrap Text
Declaration of a cash dividend
RDI REIT P.L.C.
(“RDI” or the “Company”)
(Incorporated in the Isle of Man)
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00BH3JLY32
LEI: 2138006NHZUMMRYQ1745
DECLARATION OF A CASH DIVIDEND
The board of directors of the Company has approved an interim dividend (the “cash dividend”) of 5.0 pence per share
in respect of the year ended 31 August 2020.
The dividend will be paid as a property income distribution (“PID”) and is subject to a deduction of 20% UK
withholding tax unless exemptions apply.
Shareholders on the South African (“SA”) share register will receive the cash dividend in Rand, based on a GBP to
Rand conversion rate to be announced on or before 24 November 2020 (the “conversion rate”).
The cash dividend will be paid out of the Company’s distributable profits.
As at the date of this announcement, the Company has 380 315 623 ordinary shares of 40 pence each in issue.
SALIENT DATES AND TIMES
For shareholders on the UK share register
2020
Announcement of the conversation rate on or before Tuesday, 24 November
Last day to trade in order to be eligible for the cash dividend Wednesday, 2 December
Shares commence trading ex the cash dividend Thursday, 3 December
Record date for shareholders recorded on the UK share register Friday,4 December
Payment of the cash dividend Tuesday, 22 December
Notes:
1. All dates quoted above are local dates in the UK. The above dates are subject to change. Any changes will be
announced on RNS.
2. No transfer of shares between sub-registers in the UK and South Africa may take place between Tuesday, 24
November and Friday, 4 December, both dates inclusive.
3. Shares may not be dematerialised or rematerialised between Wednesday, 2 December and Friday, 4 December, both
dates inclusive.
For shareholders on the SA share register
2020
Announcement of the conversation rate on or before Tuesday, 24 November
Last day to trade in order to be eligible for the cash dividend Tuesday, 1 December
Shares commence trading ex the cash dividend Wednesday, 2 December
Record date for shareholders recorded on the SA share register Friday, 4 December
Payment of the cash dividend Tuesday, 22 December
Notes:
1. All dates quoted above are local dates in South Africa. The above dates are subject to change. Any changes will be
announced on SENS.
2. No transfer of shares between sub-registers in the UK and South Africa may take place between Tuesday, 24
November and Friday, 4 December, both dates inclusive.
3. Shares may not be dematerialised or rematerialised between Wednesday, 2 December and Friday, 4 December, both
dates inclusive.
CASH DIVIDEND TAX IMPLICATIONS
Shareholders on the SA share register
Cash Property Income Distributions
A 20% UK withholding tax will be deducted from cash PIDs. On application by the shareholder, assuming the
shareholder is the beneficial owner of the dividend and is SA resident for purposes of the SA – UK double tax agreement,
a 5% rebate is claimable from the UK’s HM Revenue & Customs (“HMRC”), resulting in an effective UK withholding
tax rate of 15%. The Company will account to HMRC in Pounds Sterling for the total UK withholding tax deducted.
Settlement of any claims for refund will be calculated and settled in Pounds Sterling by HMRC.
SA dividends tax, at the rate of 20%, will apply to cash PIDs payable by the Company unless the beneficial owner of
the dividend is exempt from dividends tax. Assuming that the shareholder is resident in South Africa and has the right,
in terms of the double tax agreement between South Africa and the UK, to claim the 5% rebate from HMRC in respect
of UK withholding tax, dividends tax at a reduced rate of 5% should be withheld. Where the shareholder is resident in
the UK and has no right, in terms of the double tax agreement between South Africa and the UK, to claim the 5% rebate
from HMRC in respect of the UK withholding tax, no additional dividends tax should be withheld (assuming that the
shareholder is liable for UK tax on the dividend at the rate of at least 20%). Cash dividends paid to SA resident
companies should be exempt from the dividends tax, subject to certain administrative requirements.
UK taxation
The receipt of the cash dividend may have tax implications for shareholders who are resident in the UK or other countries
and such shareholders are advised to obtain appropriate advice from their professional advisors in this regard.
For information on PIDs and refund claims, including claim forms and guidance on how to complete them, visit
http://www.rdireit.com/investors/real-estate-investment-trust.
For further information:
RDI REIT P.L.C.
Stephen Oakenfull, Donald Grant Tel: +44 (0) 20 7811 0100
FTI Consulting
UK Public Relations Adviser
Dido Laurimore, Claire Turvey Tel: +44 (0) 20 3727 1000
rdireit@fticonsulting.com
Instinctif Partners
SA Public Relations Adviser
Frederic Cornet Tel: +27 (0) 11 447 3030
RDI@instinctif.com
JSE Sponsor
Java Capital Tel: + 27 (0) 11 722 3050
5 November 2020
Note to editors:
About RDI
RDI is an income focused UK Real Estate Investment Trust (UK-REIT) with a diversified portfolio invested principally
in the UK. The investment approach is driven by an in depth understanding of occupational demand including the impact
of technology, transport and infrastructure investment. The portfolio has been repositioned in recent years to increase
its weighting to London and the South East and to provide greater exposure to our leading hotel and serviced office
operating platforms.
RDI is committed to delivering attractive income led total returns across the real estate cycle. The current strategic
objectives of a lower leverage capital structure and more focused allocation of capital are targeted at delivering an
industry leading and sustainable income return.
RDI holds a primary listing on the London Stock Exchange and a secondary listing on the JSE. The Company is included
within the EPRA, GPR, JSE All Property and JSE Tradeable Property indices.
For more information on RDI, please refer to the Company's website www.rdireit.com
Date: 05-11-2020 09:05:00
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