Sirius Real Estate Limited
("Sirius Real Estate" or the "Company")
Posting of Scrip Dividend Alternative Circular and
Scrip Dividend Reference Price and Conversion Rate
Sirius Real Estate is pleased to confirm that the Scrip Dividend Alternative Circular and Form of Election were posted to shareholders on 24 November 2015 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 Dividend |
23 November 2015 |
Despatch the Scrip Dividend Alternative Circular and Form of Election |
24 November 2015 |
Announcement of Reference Price for the Scrip Dividend Shares released on RNS (this announcement) |
27 November 2015 |
Last day to trade in order to be eligible for the cash dividend or alternatively the scrip dividend |
16 December 2015 |
Shares commence trading ex the cash dividend or scrip dividend |
17 December 2015 |
Record Date for UK Shareholders |
18 December 2015 |
Latest time for receipt of Proxy Forms |
11.00 a.m. (UK time) on 15 December 2015 |
Extraordinary General Meeting |
11.00 a.m. (UK time) on 17 December 2015 |
Deadline by which election to receive the Scrip Dividend Shares must have been received by the Registrars (Election Return Date) |
5.00 p.m. (UK time) on 6 January 2016 |
Announcement on RNS of the number of New Shares issued |
14 January 2016 |
Despatch Interim Dividend cheques and tax vouchers |
19 January 2016 |
Despatch Scrip Dividend Share certificates |
19 January 2016 |
CREST accounts credited and/or updated with the Interim Dividend payment in cash and/or Scrip Dividend Shares |
20 January 2016 |
Admission of Scrip Dividend Shares to trading on AIM |
20 January 2016 |
Interim Dividend Payment Date |
20 January 2016 |
For shareholders on the South African Share Register
Announcement of Dividend |
23 November 2015 |
Despatch the Scrip Dividend Alternative Circular and Form of Election |
24 November 2015 |
Announcement of Reference Price for the Scrip Dividend Shares and the Euro to Rand Conversion Rate released on SENS (this announcement) |
27 November 2015 |
Last day to trade in order to be eligible for the cash dividend or alternatively the scrip dividend |
10 December 2015 |
Shares commence trading ex the cash dividend or scrip dividend |
11 December 2015 |
Record Date for SA Shareholders |
18 December 2015 |
Deadline by which election to receive the Scrip Dividend Shares must have been received by the Transfer Secretaries (Election Return Date) |
12.00 noon (South African time) on 18 December 2015 |
Latest time for receipt of Proxy Forms |
1.00 p.m. (South African time) on 15 December 2015 |
Extraordinary General Meeting |
1.00 p.m. (South African time) on 17 December 2015 |
Announcement on SENS of the number of New Shares issued |
14 January 2016 |
CSDP/broker accounts credited and/or updated with the Interim Dividend payment in cash and/or Scrip Dividend Shares |
20 January 2016 |
Despatch Scrip Dividend Share certificates, Interim Dividend cheques and tax vouchers |
20 January 2016 |
Admission of Scrip Dividend Shares to trading on JSE |
20 January 2016 |
Interim Dividend Payment Date |
20 January 2016 |
As set out in the Scrip Dividend Alternative Circular, Sirius Real Estate today announces the Scrip Dividend Reference Prices and the Conversion Rate for the purposes of converting the Interim Dividend declared in connection with the six months ended 30 September 2015 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: 51.78 cents (Euro)
Shareholders on the SA Share Register: 794.22888 cents (Rand)
The number of New Shares, which Shareholders electing to take the Scrip Dividend Alternative will therefore receive, are as follows:
Shareholders on the UK Share Register: 1 New Share for every 56.28261 Ordinary Shares held
Shareholders on the SA Share Register: 1 New Share for every 56.84790 Ordinary Shares held
The Conversion Rate
The Conversion Rate (which will also be the Euro to Rand Conversion Rate in the Scrip Dividend Alternative Circular) for the purposes of calculating the Interim Dividend declared in connection with the six months ended 30 September 2015 payable to Shareholders on the SA Share Register will be 15.186 Rand to 1 Euro.
On this basis, Shareholders on the SA Share Register will receive a dividend of 13.97112 cents (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.
In accordance with the requirements of the JSE, the Company confirms that any cash dividend received by SA Shareholders who are not exempt from dividend withholding tax, is expected to be 11.87545 cents (Rand) per Ordinary Share. As set out in the Scrip Dividend Alternative 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.
Enquiries:
Sirius Real Estate
Andrew Coombs, CEO +49 (0)30 285010110
Alistair Marks, CFO
Peel Hunt
Capel Irwin +44 (0)20 7418 8900
Hugh Preston
PSG Capital
David Tosi +27 (0)21 887 9602
Willie Honeyball
Canaccord
Bruce Garrow +44 (0)20 7523 8000
Chris Connors
Mark Whitmore
Novella
Tim Robertson +44 (0)20 3151 7008
Ben Heath
