Primary Health Properties PLC Update for Shareholders on the SA Register (8024Y)
05 Enero 2024 - 5:00AM
UK Regulatory
TIDMPHP
RNS Number : 8024Y
Primary Health Properties PLC
05 January 2024
Primary Health Properties PLC
(Incorporated in the United Kingdom)
Company Number: 3033634
LSE Share Code: PHP
JSE Share Code: PHP
ISIN Code: GB00BYRJ5J14
LEI: 213800Y5CJHXOATK7X11
("PHP" or the "Company")
Update to Notice of Interim Dividend for Shareholders on the
South African Register
The Company announces that the first quarterly interim dividend
in 2024 of 1.725 pence per ordinary share of 12.5 pence each will
be paid as to 1.45 pence by way of a Property Income Distribution
("PID") and the remainder as an ordinary dividend on 23 February
2024 to shareholders on the register on 12 January 2024.
Certain qualifying shareholders may receive PIDs without
deduction of withholding tax and further details are available on
the Company's website www.phpgroup.co.uk .
The Company also confirms, further to its announcement on RNS on
5 January 2023, that shareholders on the UK share register ("UK
Shareholders") may participate in a dividend reinvestment plan
("DRIP") in respect of the current interim dividend and any future
dividends. The DRIP is provided by Equiniti Financial Services
Limited ("Equiniti FS") and administered by PHP's registrars,
Equiniti Limited ("Equiniti"), and provides UK Shareholders with
the opportunity to reinvest dividend payments to purchase
additional ordinary shares in PHP in the market. The DRIP is
currently not available to shareholders on the South African ("SA")
share register ("SA Shareholders"). SA Shareholders will receive
the first quarterly interim dividend in cash.
UK Shareholders who hold their ordinary shares in certificated
form and who wish to participate in the DRIP will need to ensure
that a completed DRIP Application Form is received by Equiniti no
later than 5:00pm UK time on 2 February 2024 (the "Election Date").
Shareholders who hold their ordinary shares in CREST and who wish
to participate in the DRIP must do so by submitting an election by
CREST input message by the Election Date.
The key dates for the dividend are detailed in the timetable
below.
Timetable
Last day to trade (SA Shareholders) Tuesday, 9 January 2024
-----------------------------
Ex-dividend date (SA Shareholders) Wednesday, 10 January 2024
-----------------------------
Last day to trade (UK Shareholders) Wednesday, 10 January 2024
-----------------------------
Ex-dividend date (UK Shareholders) Thursday, 11 January 2024
-----------------------------
Record Date Friday, 12 January 2024
-----------------------------
Latest date for receipt by Equiniti 5.00 p.m. UK time on Friday,
of DRIP Application Forms and input 2 February 2024
of CREST elections (UK Shareholders)
-----------------------------
Dividend payment date - CSDP/broker Friday, 23 February 2024
accounts credited/updated//CREST
credit date
-----------------------------
Estimated DRIP purchase date (UK Friday, 23 February 2024
Shareholders)
-----------------------------
DRIP shares credited/certificates Wednesday, 28 February
posted 2024
(UK Shareholders)
-----------------------------
The above dates and times are subject to change. Any changes
will be released on RNS and SENS as soon as practically
possible.
To facilitate settlement of the dividend to entitled SA
Shareholders, share certificates may not be dematerialised or
rematerialised between Wednesday, 10 January 2024 and Friday, 12
January 2024. No transfers of shares shall be registered in the SA
share register, or between the SA share register and the UK share
register, between Thursday, 4 January 2024 and Friday, 12 January
2024. All dates are inclusive.
Shareholders receiving the dividend in cash
SA Shareholders are advised that the exchange rate for the
dividend will be 23.7 ZAR to 1.00 GBP (the "Exchange Rate"),
resulting in a gross local dividend amount of 40.88250 ZAR cents
per share. The aforesaid rate was fixed by the Company at close of
business on 3 January 2024. The date on which the Sterling payment
will be converted to ZAR will be 15 January 2024.
Accordingly, shareholders will be paid a cash dividend per share
as follows:
Dividend UK Shareholders SA Shareholders
(GBP pence) (ZAR cents)
Total (gross) 1.725 40.88250
---------------- ----------------
Gross amount of PID 1.45 34.36500
---------------- ----------------
Less 20% UK withholding tax* 0.29 6.87300
---------------- ----------------
Net PID dividend payable** 1.16 27.49200
---------------- ----------------
Less effective 5% SA dividends
tax for SA Shareholders*** N/A 1.71825
---------------- ----------------
Net PID dividend payable*** 1.16 25.77375
---------------- ----------------
Non-PID dividend payable 0.275 6.51750
---------------- ----------------
Less 20% SA dividends tax**** N/A 1.30350
---------------- ----------------
Net non PID dividend payable 0.275 5.21400
---------------- ----------------
* Certain categories of UK Shareholders may apply for exemption,
in which case the PID element will be paid gross of UK withholding
tax.
** Net position after deducting UK withholding tax for both UK
and SA Shareholders, but before SA Shareholders have claimed back
5% from His Majesty's Revenue & Customs under the double tax
agreement between the United Kingdom and South Africa in respect of
the UK withholding tax.
*** SA dividends tax applies at the rate of 20% for SA
Shareholders, but SA Shareholders receive a rebate of the UK
withholding taxes suffered (which is effectively 15%, after taking
into account the 5% rebate referred to in **).
**** SA dividends tax applies at the rate of 20% for SA
Shareholders if an exemption does not exist.
Legal Entity Identifier: 213800Y5CJHXOATK7X11
For further information:
Primary Health Properties PLC
Richard Howell, Chief Financial Officer +44(0) 776 6072 272
Toby Newman, Company Secretary & Chief Legal Officer +44(0) 772 9047 959
The Company has a primary listing on the London Stock Exchange
and a secondary listing on the JSE Limited.
United Kingdom
5 January 2024
Sponsor: PSG Capital
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