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SIRIUS REAL ESTATE LIMITED - Posting of Scrip Dividend Alternative Circular and Scrip Dividend Reference Price and Exchange Rate

Release Date: 29/11/2021 16:00
Code(s): SRE     PDF:  
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Posting of Scrip Dividend Alternative Circular and
Scrip Dividend Reference Price and Exchange Rate

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                      Monday, 29 November 2021
 and the Euro to Sterling Conversion Rate released on
 RNS

 Despatch the Scrip Circular and Form of Election and                    Monday, 29 November 2021
 announce the despatch on RNS

 Last day to trade in order to be eligible for the cash                  Wednesday, 15 December 2021
 dividend or alternatively the scrip dividend

 Shares commence trading ex the cash dividend or scrip                   Thursday, 16 December 2021
 dividend (the UK 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 5.00 p.m. (UK time) on Thursday, 30 December
 election to receive dividend entitlements in Sterling 2021
 must have been received by the Registrars (Election
 Return Date)
 Announcement on RNS of the number of New Shares                          Wednesday, 12 January 2022
 issued

 Despatch scrip dividend share certificates, Dividend                     Wednesday, 19 January 2022
 cheques and tax vouchers

 CREST accounts credited and/or updated with the                          Thursday, 20 January 2022
 Dividend payment in cash and/or New Shares

 Admission of New Shares to the premium segment of                        Thursday, 20 January 2022
 the Official List and to 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                       Monday, 29 November 2021
 and the Euro to ZAR Conversion Rate released on SENS

 Despatch the Scrip Circular and Form of Election and                     Monday, 29 November 2021
 announce the despatch on SENS

 Last day to trade in order to be eligible for the cash                   Monday, 13 December 2021
 dividend or alternatively the scrip dividend

 Shares commence trading ex the cash dividend or scrip                    Tuesday, 14 December 2021
 dividend (the SA Ex-Dividend Date)

 Announcement on SENS regarding Cash Fractions                            Wednesday, 15 December 2021
 applicable to the Scrip 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 12.00 noon (South African time) on Thursday,
 must have been received by the Transfer Secretaries 30 December 2021
 (Election Return Date)

 Announcement on SENS of the number of New Shares to                      Wednesday, 12 January 2022
 be issued

 Execution of the conversion from Euro to ZAR for                         Thursday, 13 January 2022
 payment of any dividends in ZAR

 Participant/broker accounts credited and/or updated                      Thursday, 20 January 2022
 with the Dividend payment in cash and/or New Shares
 
 Despatch scrip dividend share certificates, Dividend                     Thursday, 20 January 2022
 cheques and tax vouchers

 Listing and admission of New Shares to trading on the                    Thursday, 20 January 2022
 JSE

 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

JSE Sponsor
PSG Capital

Date: 29-11-2021 04:00:00
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