17:00 Thu 09 Jul 2020
Sirius Real Estate - Cash fraction applicable to the Scrip Dividend
(Incorporated in
Company Number: 46442
JSE Share Code: SRE
LSE (GBP) Share Code: SRE
LSE (EUR) Share Code: ESRE
LEI: 213800NURUF5W8QSK566
ISIN Code: GG00B1W3VF54
9 July 2020
("
Cash fraction applicable to the Scrip Dividend
Shareholders of the Company ("Shareholders") are referred to the condensed consolidated financial results for the year ended
The attention of Shareholders is accordingly drawn to the following terms relating to the fractions applicable to the Scrip Dividend Alternative.
Shareholders on the
Where the operation of the Scrip Dividend Alternative would result in a Share Elector being entitled to less than one New Share (for example where that Share Elector held a small number of Ordinary Shares) no fraction of a New Share will be issued, and the relevant amount of authorised Dividend will be retained for the benefit of the Company.
Shareholders on the
No fractions of a New Share will be issued to Shareholders on the
You cannot accumulate residual entitlements or receive a fraction of a New Share. Where you have made an election to participate in the Scrip Dividend Alternative, which would otherwise give rise to an entitlement to a fraction of a New Share, the number of New Shares to be received will be rounded down and any residual entitlement which is less than the price of one New Share (as calculated in accordance with paragraph 3 of the terms and conditions set out in the Circular) will be paid to you in cash in Rand.
The cash fractional payment was determined with reference to the volume weighted traded price on the JSE on, Wednesday, 8 July 2020 (being the date on which the Ordinary Shares began trading on the JSE ex the cash dividend or scrip dividend) of R17.01080, discounted by 10% ("Fractional Reference Price"). Shareholders are accordingly advised that the Fractional Reference Price is R15.30972 (R17.01080 discounted by 10%). The cash fractional payment may be considered to be revenue or capital in nature and will depend on the nature of the pre-existing Ordinary Shares held by Shareholders of the Company. The cash fractional payment is not regarded as a dividend for South African tax purposes and will not be subject to dividends tax. Shareholders are advised to seek their own tax advice from an independent tax adviser should they be in any doubt as to the tax treatment for them of any cash fractional payment.
Further Information
Terms used but not defined herein have the same meaning given to them as set out in the Circular.
The distribution of the Circular in certain jurisdictions (including
For further information:
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