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 a second interim dividend (the “cash dividend”) of 6.00
pence per share in respect of the year ended 31 August 2019.
The cash dividend will be paid as a property income distribution (“PID”) and 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 Tuesday, 12 November 2019 (the “conversion
rate”).
The cash dividend is a foreign dividend (to be paid out of the United Kingdom) and will be paid out of the
Company’s distributable profits.
As at the date of this announcement, the Company has 380 089 923 ordinary shares of 40 pence each in issue.
SALIENT DATES AND TIMES
For shareholders on the UK share register
2019
Announcement of the conversation rate on or before Tuesday, 12 November
Last day to trade in order to be eligible for the cash dividend Wednesday, 20 November
Shares commence trading ex the cash dividend Thursday, 21 November
Record date for shareholders recorded on the UK share register Friday, 22 November
Payment of the cash dividend Tuesday, 10 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, 12 November 2019 and Friday, 22 November 2019, both dates inclusive.
3. Shares may not be dematerialised or rematerialised between Wednesday, 20 November and Friday,
22 November 2019, both dates inclusive.
For shareholders on the SA share register
2019
Announcement of the conversation rate on or before Tuesday, 12 November
Last day to trade in order to be eligible for the cash dividend Tuesday, 19 November
Shares commence trading ex the cash dividend Wednesday, 20 November
Record date for shareholders recorded on the SA share register Friday, 22 November
Payment of the cash dividend Tuesday, 10 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, 12 November 2019 and Friday, 22 November 2019, both dates inclusive.
3. Shares may not be dematerialised or rematerialised between Wednesday, 20 November 2019 and Friday,
22 November 2019, 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 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, please contact:
RDI REIT P.L.C.
Mike Watters, Donald Grant Tel: +44 (0) 20 7811 0100
FTI Consulting
UK Public Relations Adviser
Dido Laurimore, Claire Turvey, Ellie Sweeney 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
24 October 2019
Note to editors:
About RDI
RDI is an income focused 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 is a UK Real Estate Investment Trust (UK-REIT) and 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: 24/10/2019 08:05:00
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