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Cash Fraction Applicable to the Enhanced Scrip Dividend Alternative
Hammerson plc
(Incorporated in England and Wales)
(Company number 360632)
LSE share code: HMSO JSE share code: HMN
ISIN: GB00BK7YQK64
(“Hammerson” or “the Company”)
Interim 2020 Dividend and Enhanced Scrip Dividend Alternative
Cash Fraction Applicable to the Enhanced Scrip Dividend Alternative
THIS ANNOUNCEMENT (AND THE INFORMATION CONTAINED HEREIN) IS NOT FOR RELEASE,
PUBLICATION, DISTRIBUTION OR FORWARDING, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN
PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.
FOR IMMEDIATE RELEASE
19 November 2020
Further to the announcements released on 17 and 18 November 2020, Shareholders are further
advised of the below.
Fractions applicable to the Enhanced Scrip Dividend Alternative:
Shareholders on the UK Register
No fraction of a New Share will be issued to Shareholders on the UK Register. Entitlements to New
Shares of Shareholders on the UK Register who elect for the Enhanced Scrip Dividend Alternative will
be rounded down to the nearest whole number of New Shares. Entitlements to fractions of New Shares
will be paid to Shareholders who elect for the Enhanced Scrip Dividend Alternative in cash based on
the value of the Enhanced Scrip Dividend Alternative.
Shareholders on the South Africa Register
No fraction of a New Share will be issued to Shareholders on the South Africa Register.
You cannot accumulate residual entitlements or receive a fraction of a New Share. Where you have
made an election to participate in the Enhanced Scrip Dividend Alternative, which would otherwise
give rise to an entitlement to a fraction of a New Share, the number of New Shares to be received will
be rounded down and any residual entitlement which is less than the price of one New Share will be
paid to you in cash in Rand.
The cash fractional payment for Shareholders on the South Africa Register is to be determined with
reference to the volume weighted traded price on the JSE on Wednesday, 18 November 2020 (being
the date on which the Shares began trading on the JSE ex the cash dividend or Enhanced Scrip Dividend
Alternative) of 4.79557 Rand, discounted by 10% (“Fractional Reference Price”). Shareholders are
accordingly advised that the Fractional Reference Price is 4.31602 Rand (4.79557 Rand discounted by
10%). The cash fractional payment may be considered to be revenue or capital in nature and will
depend on the nature of the pre-existing Shares held by Shareholders of the Company. The cash
fractional payment is not regarded as a dividend for South African tax purposes and will not be subject
to dividends tax. Shareholders are advised to seek their own tax advice from an independent tax
adviser should they be in any doubt as to the tax treatment for them of any cash fractional payment.
South African Taxation
When the Company offers a scrip dividend alternative as a PID, the tax position is as follows:
A 20 % UK withholding tax will have been deducted in calculating the number of New Shares issued
in respect of PIDs.
In terms of South African tax law, a foreign dividend is defined as a dividend paid or payable by a non-
South Africa tax resident company where the amount is treated as a dividend in terms of the tax or
corporate law of the country in which the foreign company is tax resident. However, a foreign dividend
does not include any amount so paid or payable by the foreign company that constitutes a share in
that company.
Accordingly, to the extent that the Company issues New Shares to Shareholders who elect to receive
the Enhanced Scrip Dividend Alternative, no dividend will arise for South African tax purposes and no
income tax or Dividends tax consequences will arise in South Africa.
Securities transfer tax will not be payable in respect of the issue of New Shares to South African
Shareholders.
The New Shares received by a South Africa resident Shareholder instead of a cash dividend from the
Company will have no capital gains base cost, meaning that the value of the Shares received may be
subject to capital gains tax on their eventual sale.
A summary of how UK Shareholders and South Africa Shareholders are likely to be treated for tax
purposes if they elect to receive New Shares instead of a cash dividend is set out in Section 2 on pages
13 to 17 of the Guide containing the terms and conditions of the Enhanced Scrip Dividend Alternative,
which is available on the Company's website, https://www.hammerson.com/investors/shareholder-
information/scrip-dividend-scheme/.
Unless otherwise stated, capitalised terms in this announcement shall have the meanings given to
them in the Circular dated 11 November 2020 in connection with the proposed Interim 2020 Dividend
and Enhanced Scrip Dividend Alternative which can be found at:
https://www.hammerson.com/investors/shareholder-information/general-meeting.
Registered Office UK Registrars SA Transfer Secretaries
Kings Place Link Asset Services Computershare Investor
90 York Way The Registry Services Proprietary Limited
London 34 Beckenham Road (Registration number
N1 9GE Beckenham 2004/003647/07)
United Kingdom Kent 1st Floor, Rosebank Towers
BR3 4TU 15 Biermann Avenue,
United Kingdom Rosebank, 2196
South Africa
(Private Bag, X9000, Saxonwold 2132 South
Africa)
For further information contact:
Josh Warren
Head of Investor Relations
Tel: +44 20 7887 1053
josh.warren@hammerson.com
Hammerson has its primary listing on the London Stock Exchange and a secondary inward
listing on the Johannesburg Stock Exchange.
Sponsor:
Investec Bank Limited
This announcement is for information purposes only and is not intended to, and does not, constitute or
form part of any offer to sell or issue, or the solicitation of an offer to purchase, subscribe for or otherwise
acquire any securities of the Company, whether pursuant to this announcement or otherwise.
The New Shares have not been and will not be registered under the United States Securities Act of 1933,
as amended (the "US Securities Act"), or with any securities regulatory authority or under the relevant
laws of any state or other jurisdiction of the United States, and may not be offered, sold, taken up,
exercised, resold, pledged, renounced, transferred or delivered, directly or indirectly, into or within the
United States, except pursuant to an applicable exemption from, or in a transaction not subject to, the
registration requirements of the US Securities Act and in compliance with any applicable securities laws
of any state or other jurisdiction of the United States. There has been and will be no public offering of the
New Shares in the United States.
The release, publication or distribution of this announcement in jurisdictions outside the United Kingdom
may be restricted by law and, therefore, persons into whose possession this announcement comes should
inform themselves about, and observe, such restrictions. Any failure to comply which such restrictions
may constitute a violation of the securities law of any such jurisdiction.
Date: 19-11-2020 11:00:00
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