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Dividend Currency Conversion Announcement
Hammerson plc
(Incorporated in England and Wales)
(Company number 360632)
LSE and Euronext Dublin share code: HMSO JSE share code: HMN
ISIN: GB00BK7YQK64
("Hammerson" or "the Company")
Dividend Currency Conversion Announcement
On 29 February 2024, the Company announced that the Board of Directors had
recommended a final cash dividend of 0.78p per ordinary share ("Share") for the period
ended 31 December 2023 (the "Final 2023 Dividend"), subject to approval by the
shareholders of the Company at the 2024 Annual General Meeting.
The Final 2023 Dividend will be paid as a non-Property Income Distribution ("non-PID"), and
treated as an ordinary UK company dividend.
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.
Shareholders registered on the South African Branch Register should contact their CSDP or
Broker for further information.
Subject to approval by shareholders, the Final 2023 Dividend is payable on Friday, 10 May
2024 to shareholders registered on the UK principal register ("UK Shareholders") and the South
African branch register ("SA Shareholders") who have elected to receive the dividend in
cash. The Record Date for both UK Shareholders and SA Shareholders is at the close of
business on Friday, 5 April 2024. The DRIP purchases settlement date (subject to market
conditions and the purchase of shares in the open market) is expected to be Tuesday, 14
May 2024 in the UK and Friday, 24 May 2024 in South Africa.
The Final 2023 Dividend should be regarded as a 'foreign dividend' for SA income tax and
dividends tax purposes and the funds will be paid from the United Kingdom.
Shareholders receiving the Final 2023 Dividend in cash
The Company confirms that the South African Rand exchange rate for the Final 2023 Dividend
will be ZAR 23.9233 to GBP 1. The currency conversion date was 22 March 2024. The Final 2023
Dividend is payable in South African Rand to SA Shareholders. Shareholders who do not elect
the DRIP will be paid as follows:
Non-PID* UK Shareholders SA Shareholders
(GBP pence) (ZAR cents)
Gross amount of non-PID 0.78 18.66017
Less 20% SA dividends tax (where n/a 3.73203
applicable)
Net non-PID payable* 0.78 14.92814
* Non-PID – taxed as a normal dividend
Cash non-PIDs
SA dividends tax at the rate of 20% will apply to cash non-PIDs paid by the Company, unless
the beneficial owner of the Dividend is exempt from SA dividends tax (e.g. if the beneficial
owner is a South African company or a non-South African resident). Since no withholding tax
is suffered in the UK on cash non-PIDs, no rebate can be claimed. The relevant regulated
intermediary (being the SA transfer secretaries or other CSDP, broker or institution, as
applicable) will therefore be required to deduct 20% tax on all cash non-PID's paid to persons
who are not exempt from SA dividends tax, and pay this to the South African Revenue
Service.
Shareholders electing the DRIP
Partial elections are not permitted under the DRIP.
SA Shareholders electing the DRIP should note that, in respect of fractional entitlements that
may arise, all allocations of shares will be rounded down to the nearest whole number, and
any residual amounts that are not used to reinvest in shares (as a result of rounding down) will
be paid out to these SA Shareholders in cash.
It is the Company's understanding that the residual cash paid to SA Shareholders who have
made DRIP elections would already have been taxed prior to the calculation of the number
of shares and any residual cash owing to such SA Shareholders. Accordingly, no further tax
should be payable on the cash paid to SA Shareholders as a result of any fractional
entitlements.
The above information and the guidelines on the taxation of dividends are provided as a
general guide based on the Company's understanding of the law and practice currently in
place. Any shareholder who is in any doubt as to their tax position should seek independent
professional advice.
Registered Office UK Registrars SA Transfer Secretaries
Marble Arch House Link Group Computershare Investor
66 Seymour Street Central Square Services Proprietary Limited
London 29 Wellington Street (Registration number
W1H 5BX Leeds 2004/003647/07)
United Kingdom LS1 4DL 1st Floor, Rosebank Towers
15 Biermann Avenue,
Rosebank, 2196
South Africa
(Private Bag, X9000, Saxonwold 2132 South
Africa)
For further information contact:
Josh Warren
Director of Strategy, Commercial Finance and Investor Relations
Tel: +44 20 7887 1053
josh.warren@hammerson.com
Richard Crowle
Senior Assistant Company Secretary
Tel: +44 20 7887 1000
Richard.crowle@hammerson.com
Hammerson has its primary listing on the London Stock Exchange and secondary inward
listings on the Johannesburg Stock Exchange and Euronext Dublin.
25 March 2024
Sponsor: Investec Bank Limited
This announcement is for information purposes only and is not intended to, and does not
constitute or form part of any offer to sell or issue, or the solicitation of an offer to purchase,
subscribe for or otherwise acquire any securities of the Company, whether pursuant to this
announcement or otherwise.
Date: 25-03-2024 11:00:00
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