REG - Hammerson PLC - Dividend Currency Conversion Announcement

HammersonAnnouncement

Wed 09:00

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RNS Number : 7538W  Hammerson PLC  27 August 2025

Hammerson plc (the "Company")

 

Dividend Currency Conversion Announcement

 

27 August 2025

 

On 31 July 2025, the Company announced that the Board of Directors had
declared an interim dividend of 7.94 pence per ordinary share ("Share") for
the period ending 31 December 2025 (the "Interim 2025 Dividend").

The Interim 2025 Dividend will be treated as a Property Income Distribution
("PID") and will be subject to a 20% UK withholding tax unless exemptions
apply.

The Company will not be offering a scrip dividend alternative but, for
shareholders who wish to receive their dividend in the form of Shares, the
Dividend Reinvestment Plan ("DRIP") will be available. The terms and
conditions of the DRIP can be found at
https://uk.investorcentre.mpms.mufg.com/Login/Login
(https://url.uk.m.mimecastprotect.com/s/NtB2C538lFl972tzfQhkcf8_?domain=uk.investorcentre.mpms.mufg.com)
. Shareholders registered on the South African Branch Register should contact
their CSDP or Broker for further information.

The Interim 2025 Dividend is payable on Thursday, 16 October 2025 to
shareholders registered on the UK principal register ("UK Shareholders") and
the South African branch register ("SA Shareholders") who have elected to
receive the dividend in cash. The Record Date for both UK Shareholders and SA
Shareholders is at the close of business on Friday, 5 September 2025. The
DRIP purchases settlement date (subject to market conditions and the purchase
of shares in the open market) is Monday, 20 October 2025 in the UK and
Thursday, 30 October 2025 in South Africa.

The Interim 2025 Dividend should be regarded as a "foreign dividend" for SA
income and SA dividend tax purposes and the funds will be paid from the United
Kingdom.

Shareholders receiving the Interim 2025 Dividend in cash

The Company confirms that the South African Rand exchange rate for the Interim
2025 Dividend will be ZAR 23.7988 to GBP 1. The Interim 2025 Dividend is
payable in South African Rand to SA Shareholders. Shareholders who do not
elect the DRIP will be paid as follows:

 PID                                               UK Shareholders  SA Shareholders

                                                   (GBP pence)      (ZAR cents)
 Gross amount of PID                               7.94             188.96247
 Less 20% UK withholding tax/20% SA dividends tax  1.588            37.79249
 Net PID dividend payable*                         6.352            151.16998
 Less 5% SA Shareholders excess reclaim            n/a              9.44812
 Net PID dividend payable**                        n/a              141.72185

 

*Net position after SA Shareholders have claimed back 5% from HMRC under the
double tax agreement between the United Kingdom and South Africa.

** Before SA shareholders have claimed back 5% from HMRC under the double tax
agreement between the United Kingdom and South Africa.

Cash PIDs

The information below is intended as a general guide only and is based on
Hammerson Plc's understanding of the law and practice currently in force.
Any shareholder who is in any doubt as to their tax position should seek
independent professional advice.

The Interim 2025 Dividend should be regarded as a 'foreign dividend' for SA
income tax and dividends tax purposes.

A 20% UK withholding tax is applicable to the Interim 2025 dividend as it will
be paid as a PID.  After payment of the PID South African shareholders may
apply to HMRC for a refund of the difference between the 20% UK withholding
tax and the UK/South African Double Tax Treaty rate of 15%, i.e. 5% of the tax
withheld.

The Interim 2025 cash dividend will be exempt from SA income tax but it will
be subject to SA Dividends Tax as it will be declared in respect of a share
listed on the exchange operated by the JSE.  SA Dividends Tax will apply to
the Interim 2025 cash dividend, at a rate of 20%, unless the beneficial owner
of the dividend is exempt from SA Dividends Tax or qualifies for a reduction
of the SA Dividends Tax liability to 5% (if they can claim a credit for the
effective 15% UK withholding tax suffered against the 20% SA Dividends Tax
rate). The applicability of the exemption or reduced rate will be subject to
the prescribed requirements for effecting the exemption or reduction being in
place by the requisite date.

Shareholders electing the DRIP

Partial elections are not permitted under the DRIP.

SA Shareholders electing the DRIP should note that, in respect of fractional
entitlements that may arise, all allocations of shares will be rounded down to
the nearest whole number, and any residual amounts that are not used to
reinvest in shares (as a result of rounding down) will be paid out to these SA
Shareholders in cash.

It is the Company's understanding that the residual cash paid to SA
Shareholders who have made DRIP elections would already have been taxed prior
to the calculation of the number of shares and any residual cash owing to such
SA Shareholders.  Accordingly, no further tax should be payable on the cash
paid to SA Shareholders as a result of any fractional entitlements.

The above information and the guidelines on the taxation of dividends are
provided as a general guide based on the Company's understanding of the law
and practice currently in place. Any shareholder who is in any doubt as to
their tax position should seek independent professional advice.

 

 

 Registered Office   UK Registrars           SA Transfer Secretaries
 Marble Arch House   MUFG Corporate Markets  Computershare Investor

 66 Seymour Street   Central Square          Services Proprietary Limited

 London              29 Wellington Street    (Registration number

 W1H 5BX             Leeds                   2004/003647/07)

 United Kingdom      LS1 4DL                 1st Floor, Rosebank Towers

                                             15 Biermann Avenue,

                                             Rosebank, 2196

                                             South Africa

                                             (Private Bag, X9000, Saxonwold 2132 South Africa)

 

For further information contact:

 

Josh Warren

Director of Group Performance and Investor Relations

Tel: +44 20 7887 1053

josh.warren@hammerson.com (mailto:josh.warren@hammerson.com)

Richard Crowle

Deputy Company Secretary

Tel: +44 20 7887 1000

Richard.crowle@hammerson.com (mailto:Richard.crowle@hammerson.com)

 

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 announcement above has also been released on the SENS system of the
Johannesburg Stock Exchange and on Euronext Dublin.

 

 

 

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