REG - Hammerson PLC - Dividend Declaration

HammersonAnnouncement

27/07/2023 07:15

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RNS Number : 3275H  Hammerson PLC  27 July 2023

Hammerson plc (the "Company")

Dividend Declaration

 

27 July 2023

 

The Board of Directors of the Company has declared an interim dividend of 0.72
pence per ordinary share ("Share") for the period ended 31 December 2023 (the
"Interim 2023 Dividend"). The interim dividend is payable on Monday, 2 October
2023 to shareholders on the register at the close of business on Friday, 25
August 2023.

 

The Interim 2023 Dividend will be paid as a Property Income Distribution
("PID"), net of withholding tax where appropriate.

 

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 www.signalshares.com
(http://www.signalshares.com) .

 

The timetable for the payment of the Interim 2023 Dividend is set out below.

 

 

Expected Timetable of Events

 

                                                                                 2023
 1.    Currency conversion date                                                  Friday, 11 August
 2.    Currency conversion announcement released by 9.00 a.m. (UK Time) /        Monday, 14 August
 11.00 a.m. (SA time)
 3.    Last day to effect removal of shares between the United Kingdom           Tuesday, 22 August
 ("UK") and South African ("SA") Registers
 4.    Last day to trade on the JSE to qualify for the dividend                  Tuesday, 22 August
 5.    Shares become "ex-dividend" on the JSE at the commencement of trading     Wednesday, 23 August
 6.    Last day to trade on the LSE and on Euronext Dublin to qualify for        Wednesday, 23 August
 the dividend
 7.    Shares become "ex-dividend" on the LSE and on Euronext Dublin at the      Thursday, 24 August
 commencement of trading
 8.    Record date (applicable to both the UK principal register and the SA      Friday, 25 August
 branch register)
 9.    Date on which removal of shares between the UK and SA registers           Monday, 28 August
 becomes permissible
 10.  Last day for receipt of DRIP mandates by Central Securities Depository     Thursday, 7 September
 Participants (CSDPs) and SA Transfer Secretaries
 11.  Last day for receipt of DRIP elections by UK Registrars                    Monday, 11 September
 12.  Dividend Payment Date (UK, ROI and SA)                                     Monday, 2 October
 13.  DRIP purchases settlement date UK and ROI (subject to market conditions    Wednesday, 4 October
 and the purchase of shares in the open market)
 14.  DRIP purchases settlement date SA (subject to market conditions and the    Monday, 16 October
 purchase of shares in the open market)

 

Notes:

 

1.    The removal of shares to and from the UK principal register and the
SA branch register will not be permitted between Wednesday, 23 August 2023 to
Friday, 25 August 2023, both dates inclusive.

 

2.    Shareholders registered on the SA branch register should note that,
in accordance with the requirements of Strate, no dematerialisation or
rematerialisation of shares will be possible from Wednesday, 23 August 2023 to
Friday, 25 August 2023, both dates inclusive.

 

3.    The interim dividend should be regarded as a 'foreign dividend' for
SA income tax and dividends tax purposes.

 

4.    Shareholders registered on the SA branch register will be paid in SA
Rand.

 

5.    SA dividends tax, at the rate of 20% will apply to cash PIDs and
dividends payable by the Company unless the beneficial owner of the dividend
is exempt from SA dividends tax (e.g. if it is a South African resident
company). Under the double tax agreement between the UK and SA ("the DTA"),
the maximum tax payable in the UK is 15%. South African resident shareholders
are therefore entitled to claim the excess of 5% from HM Revenue and Customs
("HMRC"). As SA shareholders are entitled to reclaim this excess from HMRC,
the maximum rebate allowable in respect of the UK withholding tax against the
SA dividends tax is 15%, which means that the Company will have to withhold a
further 5% from the dividend in South Africa to bring the total dividends tax
to 20%. In summary, therefore, 20% will be withheld in the UK, a further 5%
will be withheld in SA (where appropriate), but South African resident
shareholders will be entitled to claim back 5% from HMRC, which will bring the
overall total to 20%.

 

6.    Those shareholders who hold their shares on the UK principal register
and already participate in the DRIP need not complete a DRIP mandate form for
each dividend as such forms provide an ongoing authority to participate in the
DRIP until cancelled in writing or online at www.signalshares.com. If you are
unsure whether you have submitted a DRIP election you can check your account
online at: www.signalshares.com (http://www.signalshares.com) . Alternatively,
you can contact the UK Registrar, Link Group, by email at
shares@linkgroup.co.uk (mailto:shareholderenquiries@linkgroup.co.uk) or by
phone on 0371 664 0381 or +44 (0) 371 664 0381 from overseas. Calls are
charged at the standard geographic rate and will vary by provider. Calls from
outside the UK will be charged at the applicable international rate. Lines are
open between 9:00 am and 5:30 pm, Monday to Friday excluding public holidays
in England and Wales.

 

7.    Shareholders on the UK principal register who wish to participate in
the DRIP should complete an application form online at: www.signalshares.com
(http://www.signalshares.com) .

 

8.    Shareholders registered on the SA branch register who hold their
shares through the Strate system and who wish to participate in the DRIP
should contact their CSDP.

 

9.    As at Thursday, 27 July 2023, being the declaration date of the
Interim 2023 Dividend, the Company had a total of 5,002,265,607 ordinary
shares in issue, with 7,691,247 of those ordinary shares held in Treasury.

 

10.  The dates above are subject to change. Any changes made will be
communicated as soon as practicably possible.

 

11.  The Board retains the discretion to withdraw or modify the terms of the
Interim 2023 Dividend at any time, because there are certain situations in
which the Board may decide that it is no longer appropriate to pay the Interim
2023 Dividend, or it may not be permissible for the Company to do so.

 

For further information contact:

 

Richard Crowle

Senior Assistant Company Secretary

Tel: +44 (0)20 7887 1000

 

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

 

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