REG - Primary Health Props - Update for Shareholders on the SA Register

Primary Health PropertiesAnnouncement

05/01/2024 11:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240105:nRSE8024Ya&default-theme=true

RNS Number : 8024Y  Primary Health Properties PLC  05 January 2024

Primary Health Properties PLC

(Incorporated in the United Kingdom)

Company Number: 3033634

LSE Share Code: PHP

JSE Share Code: PHP

ISIN Code: GB00BYRJ5J14

LEI: 213800Y5CJHXOATK7X11

("PHP" or the "Company")

 

 

Update to Notice of Interim Dividend for Shareholders on the South African
Register

 

The Company announces that the first quarterly interim dividend in 2024 of
1.725 pence per ordinary share of 12.5 pence each will be paid as to 1.45
pence by way of a Property Income Distribution ("PID") and the remainder as an
ordinary dividend on 23 February 2024 to shareholders on the register on 12
January 2024.

 

Certain qualifying shareholders may receive PIDs without deduction of
withholding tax and further details are available on the Company's
website www.phpgroup.co.uk (http://www.phpgroup.co.uk/) .

 

The Company also confirms, further to its announcement on RNS on 5 January
2023, that shareholders on the UK share register ("UK Shareholders") may
participate in a dividend reinvestment plan ("DRIP") in respect of the current
interim dividend and any future dividends.  The DRIP is provided by Equiniti
Financial Services Limited ("Equiniti FS") and administered by PHP's
registrars, Equiniti Limited ("Equiniti"), and provides UK Shareholders with
the opportunity to reinvest dividend payments to purchase additional ordinary
shares in PHP in the market. The DRIP is currently not available to
shareholders on the South African ("SA") share register ("SA Shareholders").
SA Shareholders will receive the first quarterly interim dividend in cash.

 

UK Shareholders who hold their ordinary shares in certificated form and who
wish to participate in the DRIP will need to ensure that a completed DRIP
Application Form is received by Equiniti no later than 5:00pm UK time on 2
February 2024 (the "Election Date").  Shareholders who hold their ordinary
shares in CREST and who wish to participate in the DRIP must do so by
submitting an election by CREST input message by the Election Date.

 

The key dates for the dividend are detailed in the timetable below.

 

 Timetable
 Last day to trade (SA Shareholders)                                          Tuesday, 9 January 2024
 Ex-dividend date (SA Shareholders)                                           Wednesday, 10 January 2024
 Last day to trade (UK Shareholders)                                          Wednesday, 10 January 2024
 Ex-dividend date (UK Shareholders)                                           Thursday, 11 January 2024
 Record Date                                                                  Friday, 12 January 2024
 Latest date for receipt by Equiniti of DRIP Application Forms and input of   5.00 p.m. UK time on Friday, 2 February 2024
 CREST elections (UK Shareholders)
 Dividend payment date - CSDP/broker accounts credited/updated//CREST credit  Friday, 23 February 2024
 date
 Estimated DRIP purchase date (UK Shareholders)                               Friday, 23 February 2024
 DRIP shares credited/certificates posted                                     Wednesday, 28 February 2024

(UK Shareholders)

 

The above dates and times are subject to change. Any changes will be released
on RNS and SENS as soon as practically possible.

 

To facilitate settlement of the dividend to entitled SA Shareholders, share
certificates may not be dematerialised or rematerialised between Wednesday, 10
January 2024 and Friday, 12 January 2024. No transfers of shares shall be
registered in the SA share register, or between the SA share register and the
UK share register, between Thursday, 4 January 2024 and Friday, 12 January
2024. All dates are inclusive.

 

Shareholders receiving the dividend in cash

 

SA Shareholders are advised that the exchange rate for the dividend will be
23.7 ZAR to 1.00 GBP (the "Exchange Rate"), resulting in a gross local
dividend amount of 40.88250 ZAR cents per share. The aforesaid rate was fixed
by the Company at close of business on 3 January 2024. The date on which the
Sterling payment will be converted to ZAR will be 15 January 2024.

 

Accordingly, shareholders will be paid a cash dividend per share as follows:

 

 Dividend                                                   UK Shareholders (GBP pence)  SA Shareholders (ZAR cents)
 Total (gross)                                              1.725                         40.88250
 Gross amount of PID                                        1.45                          34.36500
 Less 20% UK withholding tax*                               0.29                          6.87300
 Net PID dividend payable**                                 1.16                          27.49200
 Less effective 5% SA dividends tax for SA Shareholders***  N/A                          1.71825
 Net PID dividend payable***                                1.16                          25.77375
 Non-PID dividend payable                                   0.275                         6.51750
 Less 20% SA dividends tax****                              N/A                           1.30350
 Net non PID dividend payable                               0.275                         5.21400

 

* Certain categories of UK Shareholders may apply for exemption, in which case
the PID element will be paid gross of UK withholding tax.

** Net position after deducting UK withholding tax for both UK and SA
Shareholders, but before SA Shareholders have claimed back 5% from His
Majesty's Revenue & Customs under the double tax agreement between the
United Kingdom and South Africa in respect of the UK withholding tax.

*** SA dividends tax applies at the rate of 20% for SA Shareholders, but SA
Shareholders receive a rebate of the UK withholding taxes suffered (which is
effectively 15%, after taking into account the 5% rebate referred to in **).

**** SA dividends tax applies at the rate of 20% for SA Shareholders if an
exemption does not exist.

 

Legal Entity Identifier: 213800Y5CJHXOATK7X11

 

 

For further information:

 

Primary Health Properties PLC

Richard Howell, Chief Financial
Officer
+44(0) 776 6072 272

Toby Newman, Company Secretary & Chief Legal Officer
+44(0) 772 9047 959

 

The Company has a primary listing on the London Stock Exchange and a secondary
listing on the JSE Limited.

 

United Kingdom

5 January 2024

Sponsor: PSG Capital

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDSSUFSIELSEFF