REG - Hammerson PLC - Dividend Currency Conversion Announcement

HammersonAnnouncement

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RNS Number : 8494W  Hammerson PLC  17 March 2026

Hammerson plc (the "Company")

Dividend Currency Conversion Announcement

 

17 March 2026

 

On 25 February 2026, the Company announced that the Board of Directors had
recommended a final dividend of 8.56p per ordinary share ("Share") for the
period ended 31 December 2025 (the "Final 2025 Dividend"), subject to approval
by the shareholders of the Company at the 2026 Annual General Meeting.

The Final 2025 Dividend will be wholly paid 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 Central Securities Depository Participant ("CSDP") or Broker for further
information. The deadline for the receipt of DRIP elections is Thursday, 16
April 2026.

Subject to approval by shareholders, the Final 2025 Dividend is payable on
Friday, 8 May 2026 to shareholders registered on the UK register ("UK
Shareholders") and the South African 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, 27
March 2026. The DRIP purchases settlement date (subject to market conditions
and the purchase of shares in the open market) is expected to be Tuesday, 12
May 2026 in the UK and Tuesday, 26 May 2026 in South Africa.

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

Shareholders receiving the Final 2025 Dividend in cash

The Company confirms that the South African Rand exchange rate for the Final
2025 Dividend will be ZAR 22.3140 to GBP 1. The currency conversion date was
Monday, 16 March 2026. The Final 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                                                  8.56             191.00784
 Less 20% UK withholding tax/20% SA dividends tax (where applicable)  1.712            38.20157
 Net PID dividend payable*                                            6.848            152.80627
 Less 5% SA Shareholders excess reclaim                               N/A              9.55039
 Net PID dividend payable**                                           N/A              143.25588

 

*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 the
Company'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.

A 20% UK withholding tax is applicable to the Final 2025 Dividend as it will
be paid as a PID (where appropriate).  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 Final 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 Limited.  SA dividends tax will
apply to the Final 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 2004/003647/07)

 W1H 5BX             Leeds                   1st Floor, Rosebank Towers

 United Kingdom      LS1 4DL                 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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