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Results of the Dividend Reinvestment Alternative
SPEAR REIT LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2015/407237/06)
Share code: SEA
ISIN: ZAE000228995
LEI: 378900F76170CCB33C50
Approved as a REIT by the JSE
("Spear" or "the Company")
RESULTS OF THE DIVIDEND REINVESTMENT ALTERNATIVE
We refer to the announcements published on SENS on 18 May 2026 and 26 May 2026 ("Previous
Announcements") relating to the declaration of a gross final dividend of 44.57400 cents per share ("Cash
Dividend") from income reserves in respect of the six months ended 28 February 2026, payable to shareholders
registered as such at the close of business on Friday, 5 June 2026 ("Record Date"), with an election to reinvest
the Cash Dividend, in return for Spear ordinary no par value shares ("Shares") ("Dividend Reinvestment
Alternative") as further detailed in the circular to shareholders, issued on Monday, 18 May 2026 ("Circular").
The reinvestment price per Share, applicable to shareholders electing the Dividend Reinvestment Alternative and
recorded in the register on the Record Date, is R13.00426 per Share ("Reinvestment Price"), as announced by
the Company on SENS on 26 May 2026.
Shareholders were required to make the aforesaid election on or before 12:00 on the Record Date.
Shareholders holding 241 490 828 Shares, representing 48.79% of Spear Shares in issue and qualifying to
receive the Cash Dividend, elected the Dividend Reinvestment Alternative, resulting in the issue of 8 276 950
new Shares and the retention of R107 635 609.74 of equity by Spear (based on the Reinvestment Price of
R13.00426 per Share). Accordingly, an aggregate Cash Dividend of R113 060 365.06 is payable in respect of
the remaining 253 646 442 Shares in issue.
Electronic payment of the Cash Dividend to certificated shareholders will occur today, 8 June 2026, while new
share certificates in respect of certificated shareholders who elected to participate in the Dividend Reinvestment
Alternative will be posted to such shareholders on Wednesday, 10 June 2026, at their own risk.
The Central Securities Depository Participants ("CSDP") or broker accounts in respect of dematerialised
shareholders who elected to receive the Cash Dividend will be credited today, 8 June 2026, and the CSDP or
broker accounts in respect of dematerialised shareholders who elected the Dividend Reinvestment Alternative
will be credited with their new Shares and residual cash payments for fractional entitlements on Wednesday,
10 June 2026, in line with the settlement dates stated in the Previous Announcements.
The number of listed Shares will be adjusted on or about Friday, 12 June 2026, based on the results of the
Dividend Reinvestment Alternative.
Shareholders are referred to the Previous Announcements and the Circular for details on the tax implications of
the Cash Dividend and Dividend Reinvestment Alternative.
Cape Town
8 June 2026
Sponsor
PSG Capital
Date: 08-06-2026 10:00:00
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