TIDMHMSO
RNS Number : 2875U
Hammerson PLC
01 April 2021
THIS ANNOUNCEMENT (AND THE INFORMATION CONTAINED HEREIN) IS NOT
FOR RELEASE, PUBLICATION, DISTRIBUTION OR FORWARDING, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION.
FOR IMMEDIATE RELEASE
Hammerson plc (the 'Company')
Final 2020 Dividend and Enhanced Scrip Dividend Alternative
Cash Fraction Applicable to the Enhanced Scrip Dividend
Alternative
1 April 2021
Further to the announcements released on 12 March 2021, 23 March
2021 and 24 March 2021, Shareholders are further advised of the
below.
Fractions applicable to the Enhanced Scrip Dividend
Alternative:
Shareholders on the UK Register
No fraction of a New Share will be issued to Shareholders on the
UK Register. Entitlements to New Shares of Shareholders on the UK
Register who elect for the Enhanced Scrip Dividend Alternative will
be rounded down to the nearest whole number of New Shares.
Entitlements to fractions of New Shares will be paid to
Shareholders who elect for the Enhanced Scrip Dividend Alternative
in cash based on the value of the Enhanced Scrip Dividend
Alternative.
Shareholders on the South Africa Register
No fraction of a New Share will be issued to Shareholders on the
South Africa Register.
You cannot accumulate residual entitlements or receive a
fraction of a New Share. Where you have made an election to
participate in the Enhanced Scrip Dividend Alternative, which would
otherwise give rise to an entitlement to a fraction of a New Share,
the number of New Shares to be received will be rounded down and
any residual entitlement which is less than the price of one New
Share will be paid to you in cash in Rand.
The cash fractional payment for Shareholders on the South Africa
Register is to be determined with reference to the volume weighted
traded price on the JSE on Wednesday, 31 March 2021 (being the date
on which the Shares began trading on the JSE ex the cash dividend
or Enhanced Scrip Dividend Alternative) of 6.95 Rand, discounted by
10% ("South Africa Fractional Reference Price"). Shareholders are
accordingly advised that the South Africa Fractional Reference
Price is 6.255 Rand (6.95 Rand discounted by 10%). The cash
fractional payment may be considered to be revenue or capital in
nature and will depend on the nature of the pre-existing Shares
held by Shareholders of the Company. The cash fractional payment is
not regarded as a dividend for South African tax purposes and will
not be subject to dividends tax. Shareholders are advised to seek
their own tax advice from an independent tax adviser should they be
in any doubt as to the tax treatment for them of any cash
fractional payment.
South African Taxation
When the Company offers a scrip dividend alternative as a PID,
the tax position is as follows:
A 20 % UK withholding tax will have been deducted in calculating
the number of New Shares issued in respect of PIDs.
In terms of South African tax law, a foreign dividend is defined
as a dividend paid or payable by a non-South Africa tax resident
company where the amount is treated as a dividend in terms of the
tax or corporate law of the country in which the foreign company is
tax resident. However, a foreign dividend does not include any
amount so paid or payable by the foreign company that constitutes a
share in that company.
Accordingly, to the extent that the Company issues New Shares to
Shareholders who elect to receive the Enhanced Scrip Dividend
Alternative, no dividend will arise for South African tax purposes
and no income tax or Dividends tax consequences will arise in South
Africa.
Securities transfer tax will not be payable in respect of the
issue of New Shares to South African Shareholders.
The New Shares received by a South Africa resident Shareholder
instead of a cash dividend from the Company will have no capital
gains base cost, meaning that the value of the Shares received may
be subject to capital gains tax on their eventual sale.
A summary of how UK Shareholders and South Africa Shareholders
are likely to be treated for tax purposes if they elect to receive
New Shares instead of a cash dividend is set out in Section 2 on
pages 14 to 19 of the Guide containing the terms and conditions of
the Enhanced Scrip Dividend Alternative, which is available on the
Company's website,
https://www.hammerson.com/investors/shareholder-information .
Unless otherwise stated, capitalised terms in this announcement
shall have the meanings given to them in the Circular dated 29
March 2021 in connection with the proposed Final 2020 Dividend and
Enhanced Scrip Dividend Alternative which can be found at:
https://www.hammerson.com/investors/shareholder-information .
Registered Office UK Registrars SA Transfer Secretaries
Kings Place Link Group Computershare Investor
90 York Way 10(th) Floor Services Proprietary Limited
London Central Square (Registration number
N1 9GE 29 Wellington Street 2004/003647/07)
United Kingdom Leeds 1st Floor, Rosebank Towers
LS1 4DL 15 Biermann Avenue,
Rosebank, 2196
South Africa
(Private Bag, X9000, Saxonwold
2132 South Africa)
For further information contact:
Josh Warren
Head of Investor Relations
Tel: +44 20 7887 1053
josh.warren@hammerson.com
The announcement above has also been released on the SENS system
of the Johannesburg Stock Exchange and on Euronext Dublin.
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.
The New Shares have not been and will not be registered under
the United States Securities Act of 1933, as amended (the "US
Securities Act"), or with any securities regulatory authority or
under the relevant laws of any state or other jurisdiction of the
United States, and may not be offered, sold, taken up, exercised,
resold, pledged, renounced, transferred or delivered, directly or
indirectly, into or within the United States, except pursuant to an
applicable exemption from, or in a transaction not subject to, the
registration requirements of the US Securities Act and in
compliance with any applicable securities laws of any state or
other jurisdiction of the United States. There has been and will be
no public offering of the New Shares in the United States.
The release, publication or distribution of this announcement in
jurisdictions outside the United Kingdom, the Republic of Ireland
and South Africa may be restricted by law and, therefore, persons
into whose possession this announcement comes should inform
themselves about, and observe, such restrictions. Any failure to
comply which such restrictions may constitute a violation of the
securities law of any such jurisdiction.
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
FUREAXLFESNFEEA
(END) Dow Jones Newswires
April 01, 2021 04:45 ET (08:45 GMT)
Hammerson (LSE:HMSO)
Historical Stock Chart
From Apr 2024 to May 2024
Hammerson (LSE:HMSO)
Historical Stock Chart
From May 2023 to May 2024