REG - Shaftesbury Capital - 2025 Interim Dividend - Exchange Rate

Shaftesbury CapitalAnnouncement

12/08/2025 09:30

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RNS Number : 8559U  Shaftesbury Capital PLC  12 August 2025

SHAFTESBURY CAPITAL PLC (the "Company" or "Shaftesbury Capital")

 

2025 INTERIM CASH DIVIDEND - EXCHANGE RATE

 

This announcement sets out additional information relating to the 2025 interim
cash dividend of 1.9 pence per ordinary share (of which 1.5 pence will be paid
as a property income distribution ("PID") and 0.4 pence will be paid as an
ordinary dividend ("Non-PID")), which is to be paid on Wednesday, 1 October
2025 to all shareholders registered on Friday, 22 August 2025.

 

Exchange rate for 2025 interim cash dividend:

 

The Company confirms that the ZAR exchange rate for the 2025 interim cash
dividend will be 23.87450 ZAR to 1 GBP, which is the rate determined on
Monday, 11 August 2025.

 

On this basis, shareholders who hold their shares via the South African
register will receive a cash dividend of 45.36155 ZAR cents per ordinary share
(38.19920 ZAR cents net of UK withholding tax).

 

PID, NON-PID AND WITHHOLDING TAXES

 

The PID element of the 2025 interim cash dividend (being 1.5 pence) will be
subject to deduction of a 20 per cent UK withholding tax unless exemptions
apply. The Non-PID element (being 0.4 pence) will be treated as an ordinary UK
company dividend. South African Dividends Tax will also apply, where
applicable. Details of the split (per ordinary share), and withholding taxes
are set out below:

 

                                                                                UK (p)  SA (ZAR cents)
 Total (gross)                                                                  1.9     45.36155

 PID (gross)                                                                    1.5     35.81175
 UK withholding tax (20%)                                                       0.3     7.16235
 PID (net of UK withholding tax)                                                1.2     28.64940
 Less effective 5% South African Dividends Tax for South African shareholders,  -       1.79059
 where applicable*
 Net PID payable                                                                1.2     26.85881

 Non-PID                                                                        0.4     9.54980
 Less South African withholding tax (20%)                                       -       1.90996
 Net Non-PID payable                                                            0.4     7.63984

* Where the 20% South African Dividends Tax rate applies, this will be 7.16235
ZAR cents per ordinary share on the PID element of the 2025 interim cash
dividend, and after UK withholding tax and South African Dividends Tax have
been withheld, the total net 2025 interim cash dividend will be 29.12689 ZAR
cents per ordinary share (total net 2025 interim cash dividend where 5% South
African Dividends Tax applies is 34.49865 ZAR cents per ordinary share).

 

Information for shareholders:

 

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

 

UK shareholders

 

Certain categories of shareholders may be eligible for exemption from the 20
per cent UK withholding tax and may register to receive their dividends on a
gross basis. Further information, including the required forms, is available
from the 'Investor Information' section of the Company's website
(https://www.shaftesburycapital.com/en/investors/investor-information.html
(https://www.shaftesburycapital.com/en/investors/investor-information.html) ),
or on request from the Company's UK registrar, MUFG Corporate Markets.
Validly completed forms must be received by MUFG Corporate Markets no later
than the dividend record date, as advised; otherwise the dividend will be paid
after deduction of tax.

 

South African shareholders

 

The 2025 interim cash dividend declared by the Company is a foreign payment
and the funds are sourced from the UK.

 

PID: A 20 per cent UK withholding tax is applicable to a PID. As such, South
African shareholders may apply to HMRC after payment of the PID element of the
2025 interim cash dividend for a refund of the difference between the 20 per
cent UK withholding tax and the UK/South African double taxation treaty rate
of 15 per cent.

 

The PID element of the 2025 interim cash dividend will be exempt from income
tax but will constitute a dividend for Dividends Tax purposes, as it will be
declared in respect of a share listed on the exchange operated by the
Johannesburg Stock Exchange. South African Dividends Tax will therefore be
withheld from the PID element of the 2025 interim cash dividend at a rate of
20 per cent, unless a shareholder qualifies for an exemption and the
prescribed requirements for effecting the exemption are in place by the
requisite date. Certain shareholders may also qualify for a reduction of South
African Dividends Tax liability to 5 per cent, (being the difference between
the South African dividends tax rate and the effective UK withholding tax rate
of 15 per cent) if the prescribed requirements for effecting the reduction are
in place by the requisite date.

 

Non-PID: The Non-PID element of the 2025 interim cash dividend will be exempt
from income tax but will constitute a dividend for South African Dividends Tax
purposes, as it will be declared in respect of a share listed on the exchange
operated by the Johannesburg Stock Exchange. South African Dividends Tax will
therefore be withheld from the Non-PID element of the 2025 interim cash
dividend at a rate of 20 per cent, unless a shareholder qualifies for an
exemption and the prescribed requirements for effecting the exemption are in
place by the requisite date.

 

Other overseas shareholders

 

Other non-UK shareholders may be able to make claims for a refund of UK
withholding tax deducted pursuant to the application of a relevant double
taxation convention. UK withholding tax refunds can only be claimed from HMRC,
the UK tax authority.

 

Additional information on PIDs and ordinary dividends (Non-PIDs) can be found
at
https://www.shaftesburycapital.com/en/investors/investor-information/reit.html
(https://www.shaftesburycapital.com/en/investors/investor-information/reit.html)

 

The salient dates in the dividend timetable included in the interim results
announcement published on Tuesday, 29 July 2025 remain unchanged.

 

Enquiries:

Ruth Pavey

Company Secretary

Shaftesbury Capital PLC

 

Tel: + 44 (0) 20 3214 9150

 

12 August 2025

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