TIDMCAPC
RNS Number : 8904I
Capital & Counties Properties Plc
17 August 2021
CAPITAL & COUNTIES PROPERTIES PLC (the "Company" or
"Capco")
2021 INTERIM DIVIDEND - EXCHANGE RATE AND SCRIP CALCULATION
PRICES
This announcement sets out additional information relating to
the 2021 interim dividend of 0.5 pence per ordinary share (of which
0.25 pence will be paid as a property income distribution ("PID")
and 0.25 pence will be paid as an ordinary dividend) which is t o
be paid on Thursday 23 September 2021 to all shareholders
registered on Friday 27 August 2021 .
Scrip dividend alternative:
It is confirmed that exchange control approval for the offering
of a scrip dividend alternative has been obtained from the South
African Reserve Bank and shareholders are accordingly entitled to
elect to receive new ordinary shares in the Company, credited as
fully paid in lieu of cash, in respect of the 2021 interim
dividend.
Exchange Rate for Interim Dividend:
The Company confirms that the ZAR exchange rate for the 2021
interim dividend will be 20.42790 ZAR to 1 GBP, which is the rate
determined on 16 August 2021.
On this basis, shareholders who hold their shares via the South
African register will receive a cash dividend of 10.21395 ZAR cents
per ordinary share (9.19256 ZAR cents net of UK withholding
tax).
Scrip Calculation Price:
The Scrip Calculation prices, which are based on the UK and SA
prices of Capco shares for the period 10 August 2021 to 16 August
2021 less the gross amount of the dividend per share, are as
follows:
UK (principal register): 176.1 pence (GBP)
South Africa: 3,614.58605 cents (ZAR)
The same share prices will be used for calculating residual
payments under the Scrip Dividend Scheme.
Scrip Ratio:
The number of shares in issue is 851,119,601 ordinary shares of
25p each.
UK (principal register): 1 new ordinary share for every 391.33
ordinary shares held (where UK withholding tax is applied), or 1
new ordinary share for every 352.2 ordinary shares held (where
there is an exemption from UK withholding tax).
South Africa: 1 new ordinary share for every 393.20799 ordinary shares held
(3,614.58605/9.19256 = 393.20799)
As no fraction of a share can be issued, the number of shares to
be issued will be rounded down to the nearest whole number and any
residual cash balance will be paid immediately to the relevant
shareholder (unless a UK shareholder has made an "evergreen
election").
By way of illustration of the above, a shareholder who holds
1,000 shares on the South African exchange and who elects to
receive the scrip dividend alternative would be entitled to
1,000/393.20799 = 2.54318 shares which would be rounded down to 2
shares, and the residual payment would be 0.54318 x 3,614.58605 ZAR
cents = 1,963.37085 ZAR cents, payable in cash .
Further details of the scrip dividend alternative are contained
in the Scrip Dividend Scheme Booklet and the related mandate forms,
which are available on Capco's website (capitalandcounties.com) and
from Capco's share registrars. The contact details for the
Registrars are also available on Capco's website.
Information for shareholders:
The information below is included only as a general guide to
taxation for shareholders based on Capco's understanding of the law
and the practice currently in force. Any shareholder who is in any
doubt as to their tax position should seek independent professional
advice.
UK shareholders - PIDs
Certain categories of shareholders may be eligible for exemption
from the 20 per cent UK withholding tax and may register to receive
their dividends on a gross basis. Further information, including
the required forms, is available from the 'Investors' section of
the Company's website (capitalandcounties.com), or on request from
our UK registrars, Link Group. Validly completed forms must be
received by Link Group no later than the dividend Record Date, as
advised; otherwise the dividend will be paid after deduction of
tax.
South African shareholders
The interim dividend declared by the Company is a foreign
payment and the funds are sourced from the UK.
PIDs: South African shareholders may apply to HMRC after payment
of the PID element of the dividend for a refund of the difference
between the 20 per cent UK withholding tax and the UK/South African
double taxation treaty rate of 15 per cent.
The PID element of the cash dividend will be exempt from income
tax but will constitute a dividend for Dividends Tax purposes, as
it will be declared in respect of a share listed on the exchange
operated by the JSE. SA Dividends Tax will therefore be withheld
from the PID element of the interim cash dividend at a rate of 20
per cent, unless a shareholder qualifies for an exemption and the
prescribed requirements for effecting the exemption are in place by
the requisite date. Certain shareholders may also qualify for a
reduction of SA Dividends Tax liability to 5 per cent, (being the
difference between the SA dividends tax rate and the effective UK
withholding tax rate of 15 per cent) if the prescribed requirements
for effecting the reduction are in place by the requisite date
.
Non-PID: The non-PID element of the cash dividend will be exempt
from income tax but will constitute a dividend for SA Dividends Tax
purposes, as it will be declared in respect of a share listed on
the exchange operated by the JSE. SA Dividends Tax will therefore
be withheld from the non-PID element of the interim cash dividend
at a rate of 20 per cent, unless a shareholder qualifies for an
exemption and the prescribed requirements for effecting the
exemption are in place by the requisite date.
After UK withholding tax and SA Dividends Tax have been
withheld, the net interim dividend will be 7.35404 cents per
ordinary share.
Scrip dividend scheme: It is the Company's understanding that
the issue and receipt of shares pursuant to the scrip dividend
alternative, whether paid as a PID or Non-PID, will not have any SA
Dividends Tax nor income tax implications. The new shares which are
acquired under the scrip dividend alternative should not comprise
of a "foreign dividend" nor a "foreign return of capital" and will
be treated as having been acquired for nil consideration.
Any residual cash payments to account for fractional share
payments will be exempt from income tax but will be subject to SA
Dividends Tax, which will be withheld from the residual payment to
South African shareholders at a rate of 20 per cent (or for
qualifying shareholders, for PID elements of residual cash amounts,
the reduced rate referenced above if the prescribed requirements
for effecting the reduction are in place by the requisite date),
unless a shareholder qualifies for an exemption and the prescribed
requirements for effecting the exemption are in place by the
requisite date.
Other overseas shareholders:
Other non-UK shareholders may be able to make claims for a
refund of UK withholding tax deducted pursuant to the application
of a relevant double taxation convention. UK withholding tax
refunds can only be claimed from HMRC, the UK tax authority.
The salient dates in the dividend timetable published in the
announcement published on 27 July 2021 remain unchanged.
Enquiries
Ruth Pavey
Company Secretary
Capital & Counties Properties PLC
+ 44 (0 ) 20 3214 9170
17 August 2021
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DIVGPURGRUPGURM
(END) Dow Jones Newswires
August 17, 2021 05:00 ET (09:00 GMT)
Shaftesbury Capital (LSE:SHC)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Shaftesbury Capital (LSE:SHC)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024