REG - Sirius Real Estate - Posting of Scrip Dividend Circular

Sirius Real EstateAnnouncement

29/11/2021 14:00

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RNS Number : 8661T  Sirius Real Estate Limited  29 November 2021

SIRIUS REAL ESTATE LIMITED

(Incorporated in Guernsey)

Company Number: 46442

JSE Share Code: SRE

LSE (GBP) Share Code: SRE

LEI: 213800NURUF5W8QSK566

ISIN Code: GG00B1W3VF54

 

29 November 2021

Sirius Real Estate Limited

("Sirius Real Estate" or the "Company")

Posting of Scrip Dividend Alternative Circular and

Scrip Dividend Reference Price and Exchange Rate

Sirius Real Estate is pleased to confirm that the Scrip Dividend Alternative
Circular and (if appropriate) a Form of Election have today been posted to
shareholders and are available on the Company's website:
www.sirius-real-estate.com.

An overview timetable of events relating to the Scrip Dividend Alternative
is set out below:

For Shareholders on the UK Share Register:

 Announcement of Scrip Dividend Alternative                                     Monday, 8 November 2021
 Announcement of Reference Price for the New Shares and the Euro to Sterling    Monday, 29 November 2021
 Conversion Rate released on RNS
 Despatch the Scrip Circular and Form of Election and announce the despatch on  Monday, 29 November 2021
 RNS
 Last day to trade in order to be eligible for the cash dividend or             Wednesday, 15 December 2021
 alternatively the scrip dividend
 Shares commence trading ex the cash dividend or scrip dividend (the UK         Thursday, 16 December 2021
 Ex-Dividend Date)
 Record Date for Shareholders on the UK Share Register                          Friday, 17 December 2021
 Deadline by which election to receive the New Shares or election to receive    5.00 p.m. (UK time) on Thursday, 30 December 2021
 dividend entitlements in Sterling must have been received by the Registrars
 (Election Return Date)
 Announcement on RNS of the number of New Shares issued                         Wednesday, 12 January 2022
 Despatch scrip dividend share certificates, Dividend cheques and tax vouchers  Wednesday, 19 January 2022
 CREST accounts credited and/or updated with the Dividend payment in cash       Thursday, 20 January 2022
 and/or New Shares
 Admission of New Shares to the premium segment of the Official List and to     Thursday, 20 January 2022
 trading on Main Market
 Dividend Payment Date                                                          Thursday, 20 January 2022

 

For Shareholders on the SA Share Register:

 

 Announcement of Scrip Dividend Alternative                                     Monday, 8 November 2021
 Announcement of Reference Price for the New Shares and the Euro to ZAR         Monday, 29 November 2021
 Conversion Rate released on SENS
 Despatch the Scrip Circular and Form of Election and announce the despatch on  Monday, 29 November 2021
 SENS
 Last day to trade in order to be eligible for the cash dividend or             Monday, 13 December 2021
 alternatively the scrip dividend
 Shares commence trading ex the cash dividend or scrip dividend (the SA         Tuesday, 14 December 2021
 Ex-Dividend Date)
 Announcement on SENS regarding Cash Fractions applicable to the Scrip          Wednesday, 15 December 2021
 Dividend, by 11:00 a.m.
 Record Date for Shareholders on the SA Share Register                          Friday, 17 December 2021
 Deadline by which election to receive the New Shares must have been received   12.00 noon (South African time) on Thursday, 30 December 2021
 by the Transfer Secretaries (Election Return Date)
 Announcement on SENS of the number of New Shares to be issued                  Wednesday, 12 January 2022
 Execution of the conversion from Euro to ZAR for payment of any dividends in   Thursday, 13 January 2022
 ZAR
 Participant/broker accounts credited and/or updated with the Dividend payment  Thursday, 20 January 2022
 in cash and/or New Shares
 Despatch scrip dividend share certificates, Dividend cheques and tax vouchers  Thursday, 20 January 2022
 Listing and admission of New Shares to trading on the JSE                      Thursday, 20 January 2022
 Dividend Payment Date                                                          Thursday, 20 January 2022

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

To facilitate settlement of the Dividend to entitled SA Shareholders, share
certificates may not be dematerialised or rematerialised between Tuesday, 14
December 2021 (the SA Ex-Dividend Date) and Friday, 17 December 2021 (the
Record Date). No transfers of Shares shall be registered in the SA Share
Register, or between the SA Share Register and the UK Share Register, between
Monday, 29 November 2021 (the Reference Price date) and Friday, 17 December
2021. All dates are inclusive.

The Dividend has been declared in Euro. Shareholders on the UK Share Register
may choose to receive their entitlement to the Dividend in cash in either Euro
or Sterling. Shareholders on the UK Share Register who do not make a valid
Sterling currency election will receive any entitlement to the cash dividend
in Euro. Shareholders on the SA Share Register will receive any entitlement to
the cash dividend in ZAR.

The Scrip Dividend Reference Prices are as follows:

Shareholders on the UK Share Register:                £1.37726
(Sterling)

Shareholders on the SA Share Register: 2,895.43248 (ZAR cents)

Therefore, the number of New Shares which Shareholders electing to take the
Scrip Dividend Alternative will receive are (subject to the treatment of any
fractions) as follows:

Shareholders on the UK Share Register:                1 New
Share for every 80.35356 Ordinary Shares held

Shareholders on the SA Share Register:                 1 New
Share for every 79.73762 Ordinary Shares held

Fractions

Where an entitlement to New Shares in relation to the Scrip Dividend
Alternative as calculated in accordance with the formulae described above
gives rise to a fraction of a New Share, such fractional entitlement shall be
treated as follows:

Shareholders on the UK Share Register:

No fraction of a New Share will be issued to Shareholders on the UK Share
Register, and the relevant amount of Dividend will be retained for the benefit
of the Company.

 

Shareholders on the SA Share Register:

Trading in the Strate environment does not permit fractions and fractional
entitlements. Any fractional entitlement will be rounded down to the nearest
whole number, resulting in allocations of whole securities and a cash payment
in ZAR for the fractional amount.

The Euro to Sterling Conversion Rate (UK Share Register only)

For Shareholders on the UK Share Register who make a valid Sterling currency
election, the conversion rate for the purposes of calculating the Dividend for
the six months ended 30 September 2021 will be a Euro to Sterling Rate of
£0.84000 (based on the average over the five days preceding this
announcement).

On this basis, Shareholders on the UK Share Register who have elected to
receive their entitlement to the Dividend in cash in Sterling will receive a
gross dividend of £0.01714 (Sterling) per Ordinary Share.

Alternatively, Shareholders on the UK Share Register may elect to receive New
Shares by way of the Scrip Dividend Alternative.

The Euro to ZAR Conversion Rate (SA Share Register only)

For Shareholders on the SA Share Register, the conversion rate for the
purposes of calculating the Dividend authorised in connection with the period
ended 30 September 2021 will be 17.80000 ZAR to 1 Euro (based on the average
over the five days preceding this announcement).

The Euro to ZAR conversion for payment of the dividend in ZAR will be settled
on Thursday, 13 January 2022, using the Euro to ZAR Conversion Rate which has
been fixed by the Company as at the date of this announcement and the
Circular.

On this basis, Shareholders on the SA Share Register will receive a gross
dividend of 36.31200 (ZAR cents) per Ordinary Share, which they may take in
cash or in New Shares by electing to do so by way of the Scrip Dividend
Alternative.

Information for Shareholders on the SA Share Register

Tax

In accordance with the Listings Requirements of the JSE, the Company confirms
that the net cash dividend received by SA Shareholders who are not exempt from
dividend withholding tax of 20%, is expected to be 29.04960 (ZAR cents) per
Ordinary Share.

South African Shareholders who elect to receive the Dividend in scrip form
should not be subject to income tax or dividend withholding tax on receipt of
the New Shares, and the Scrip Dividend will not be regarded as a foreign
dividend.

General information

On Monday, 8 November 2021, being the declaration date of the Dividend, the
Company had in issue 1,064,184,239 Ordinary Shares carrying voting rights, and
there were no shares held in treasury. The Company has 1,169,465,925 Ordinary
Shares carrying voting rights since the placing of new Ordinary Shares which
completed on 12 November 2021). The Company is incorporated in Guernsey with
Company number 46442 and its tax registration number in Guernsey
is 1EC.956 and its UK tax number is GB 203993015.

Further Information

Terms used but not defined herein have the same meaning given to them as set
out in the Scrip Dividend Alternative Circular ("Scrip Circular") to be
dispatched on Monday, 29 November 2021.

The distribution of the Scrip Circular in certain jurisdictions (including
the United States of America, Canada, Japan, New Zealand or Australia or their
respective territories or possessions (subject to applicable exemptions))
other than the United Kingdom, South Africa and Guernsey may be restricted by
law. Accordingly, the Scrip Circular may not be distributed or published in
any jurisdiction except under circumstances that will result in compliance
with any applicable laws and regulations. Persons into whose possession the
Scrip Circular comes should inform themselves about and observe any such
restrictions. Any failure to comply with these restrictions may constitute a
violation of the securities laws of any such jurisdiction.

 For further information:

 Sirius Real Estate

 Andrew Coombs, CEO                                                               +49 (0)30 285010110

 Alistair Marks, CFO

 FTI Consulting (financial PR)

 Richard Sunderland                                                               +44 (0)20 3727 1000

 
 Claire Turvey

 Talia Jessener

 SiriusRealEstate@fticonsulting.com (mailto:SiriusRealEstate@fticonsulting.com)

 JSE Sponsor

 PSG Capital

 

 

 

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