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Scrip Dividend Reference Price And Exchange Rate
SIRIUS REAL ESTATE LIMITED
(Incorporated in Guernsey)
Company Number: 46442
JSE Share Code: SRE
LSE (EUR) Share Code: ESRE
LSE (GBP) Share Code: SRE
ISIN Code: ISIN GG00B1W3VF54
2 December 2019
Sirius Real Estate Limited
("Sirius Real Estate" or the "Company")
Posting of Scrip Dividend Alternative Circular and
Scrip Dividend Reference Price and Exchange Rate
Sirius Real Estate is pleased to confirm that the Scrip Dividend Alternative Circular and (if appropriate) a
Form of Election have today been posted 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 Interim Scrip Dividend Alternative Monday, 25 November 2019
Announcement of Reference Price for the New Shares Monday, 2 December 2019
and the Euro to Sterling Conversion Rate released on
RNS
Despatch the Scrip Circular and Form of Election and Monday, 2 December 2019
announce the despatch on RNS
Last day to trade in order to be eligible for the cash Wednesday, 18 December 2019
dividend or alternatively the scrip dividend
Shares commence trading ex the cash dividend or scrip Thursday, 19 December 2019
dividend (the UK Ex-Dividend Date)
Record Date for Shareholders on the UK Share Register Friday, 20 December 2019
Deadline by which election to receive the New Shares or 5.00 p.m. (UK time) on Thursday, 2 January
election to receive dividend entitlements in Sterling 2020
must have been received by the Registrars (Election
Return Date)
Announcement on RNS of the number of New Shares Friday, 10 January 2020
issued
Despatch scrip dividend share certificates, Interim Thursday, 16 January 2020
Dividend cheques and tax vouchers
CREST accounts credited and/or updated with the Friday, 17 January 2020
Interim Dividend payment in cash and/or New Shares
Admission of New Shares to the premium segment of Friday, 17 January 2020
the Official List and to trading on Main Market
Interim Dividend Payment Date Friday, 17 January 2020
For Shareholders on the SA Share Register:
Announcement of Interim Scrip Dividend Alternative Monday, 25 November 2019
Announcement of Reference Price for the New Shares Monday, 2 December 2019
and the Euro to Rand Conversion Rate released on SENS
Despatch the Scrip Circular and Form of Election and Monday, 2 December 2019
announce the despatch on SENS
Last day to trade in order to be eligible for the cash Tuesday, 17 December 2019
dividend or alternatively the scrip dividend
Shares commence trading ex the cash dividend or scrip Wednesday, 18 December 2019
dividend (the SA Ex-Dividend Date)
Announcement on SENS regarding Cash Fractions Thursday, 19 December 2019
applicable to the Scrip Dividend, by 11:00
Record Date for Shareholders on the SA Share Register Friday, 20 December 2019
Deadline by which election to receive the New Shares 12.00 noon (South African time) on Friday, 20
must have been received by the Transfer Secretaries December 2019
(Election Return Date)
Announcement on SENS of the number of New Shares to Friday, 10 January 2020
be issued
Participant/broker accounts credited and/or updated Friday, 17 January 2020
with the Interim Dividend payment in cash and/or New
Shares
Despatch scrip dividend share certificates, Interim Friday, 17 January 2020
Dividend cheques and tax vouchers
Listing and admission of New Shares to trading on the Friday, 17 January 2020
JSE
Interim Dividend Payment Date Friday, 17 January 2020
The above dates and times are subject to change. Any changes will be released on RNS and SENS.
To facilitate settlement of the Interim Dividend to entitled SA Shareholders, share certificates may not be
dematerialised or rematerialised between Wednesday, 18 December 2019 (the SA Ex-Dividend Date) and
Friday, 20 December 2019 (the Record Date). No transfers of Shares shall be registered in the SA Share
Register, or between the SA Share Register and the UK Share Register, between Monday, 2 December
2019 (the Reference Price date) and Friday, 20 December 2019. All dates are inclusive.
The Interim Dividend has been declared in Euro. Shareholders on the UK Share Register may choose to
receive their entitlement to the Interim Dividend in cash in either Euro or Sterling. Shareholders on the
UK Share Register who do not make a valid Sterling currency election will receive any entitlement to the
cash dividend in Euro. Shareholders on the SA Share Register will receive any entitlement to the cash
dividend in Rand.
The Scrip Dividend Reference Prices are as follows:
Shareholders on the UK Share Register: £0.80092 (Sterling)
Shareholders on the SA Share Register: R15.09506 (Rand)
Therefore, the number of New Shares which Shareholders electing to take the Scrip Dividend Alternative
will receive are (subject to the treatment of any fractions) as follows:
Shareholders on the UK Share Register: 1 New Share for every 52.28809 Ordinary Share held
Shareholders on the SA Share Register: 1 New Share for every 51.95026 Ordinary Share held
Fractions
Where an entitlement to New Shares in relation to the Scrip Dividend Alternative as calculated in
accordance with the formulae described above gives rise to a fraction of a New Share, such fractional
entitlement shall be treated as follows:
Shareholders on the UK Share Register:
No fraction of a New Share will be issued to Shareholders on the UK Share Register, and the relevant
amount of Interim Dividend will be
retained for the benefit of the Company.
Shareholders on the SA Share Register:
Trading in the Strate environment does not permit fractions and fractional entitlements. Any fractional
entitlement will be rounded down to the nearest whole number, resulting in allocations of whole
securities and a cash payment in Rand for the fractional amount.
The Euro to Sterling Conversion Rate (UK Share Register only)
For Shareholders on the UK Share Register who make a valid Sterling currency election, the conversion
rate for the purposes of calculating the Interim Dividend for the period ended 30 September 2019 will be
a Euro to Sterling Conversion Rate of £0.84918
On this basis, Shareholders on the UK Share Register who have elected to receive their entitlement to the
Interim Dividend in cash in Sterling will receive a gross dividend of £0.01503 (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 Euro to Rand Conversion Rate (SA Share Register only)
For Shareholders on the SA Share Register, the conversion rate for the purposes of calculating the Interim
Dividend authorised in connection with the period ended 30 September 2019 will be 16.10625 Rand to 1
Euro.
The Euro to Rand conversion for payment of the dividend in Rand will be settled on Friday, 10 January
2020, using the Euro to Rand Conversion Rate which has been fixed by the Company as at the date of this
announcement and the Circular.
On this basis, Shareholders on the SA Share Register will receive a gross dividend of R0.28508 (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.
Information for Shareholders on the SA Share Register
Tax
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
R0.22806 (Rand) per Ordinary Share.
South African Shareholders who elect to receive the Interim Dividend in scrip form should not be subject
to income tax or dividend withholding tax on receipt of the New Shares, and the Scrip Dividend is likely to
be regarded as a foreign dividend.
General information
On Monday, 25 November 2019, being the declaration date of the Interim Dividend, the Company had in
issue 1,030,915,243 Ordinary Shares carrying voting rights, and there were no shares held in treasury. 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.
Further Information
Terms used but not defined herein have the same meaning given to them as set out in the Scrip Dividend
Alternative Circular (“Scrip Circular”) to be dispatched on Monday, 2 December 2019.
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.
JSE Sponsor
PSG Capital
Date: 02-12-2019 03:00:00
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