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HAMMERSON PLC - Dividend Currency Conversion Announcement
2025/04/15 10:30:00Download PDF Stock report
Dividend Currency Conversion Announcement
Hammerson plc
(Incorporated in England and Wales)
(Company number 360632)
LSE and Euronext Dublin share code: HMSO JSE share code: HMN
ISIN: GB00BRJQ8J25
('Hammerson' or 'the Company')
Dividend Currency Conversion Announcement
15 April 2025
On 26 February 2025, the Company announced that the Board of Directors had
recommended a final cash dividend of 8.07p per ordinary share ('Share') for the period
ended 31 December 2024 (the 'Final 2024 Dividend'), subject to approval by the
shareholders of the Company at the 2025 Annual General Meeting.
The Final 2024 Dividend will be paid as a non-Property Income Distribution ('non-PID'), and
treated as an ordinary UK company dividend.
The Company will not be offering a scrip dividend alternative but, for shareholders who wish
to receive their dividend in the form of Shares, the Dividend Reinvestment Plan ('DRIP') will
be available. The terms and conditions of the DRIP can be found at www.signalshares.com.
Shareholders registered on the South African Branch Register should contact their Central
Securities Depository Participant ('CSDP') or Broker for further information.
Subject to approval by shareholders, the Final 2024 Dividend is payable on Tuesday, 3 June
2025 to shareholders registered on the UK principal register ('UK Shareholders') and the South
African branch register ('SA Shareholders') who have elected to receive the dividend in
cash. The Record Date for both UK Shareholders and SA Shareholders is at the close of
business on Friday, 25 April 2025. The DRIP purchases settlement date (subject to market
conditions and the purchase of shares in the open market) is expected to be Thursday, 5 June
2025 in the UK and Wednesday, 18 June 2025 in South Africa.
The Final 2024 Dividend should be regarded as a 'foreign dividend' for SA income tax and
dividends tax purposes and the funds will be paid from the United Kingdom.
Shareholders receiving the Final 2024 Dividend in cash
The Company confirms that the South African Rand exchange rate for the Final 2024 Dividend
will be ZAR 24.8252 to GBP 1. The currency conversion date was Monday, 14 April 2025. The
Final 2024 Dividend is payable in South African Rand to SA Shareholders. Shareholders who
do not elect the DRIP will be paid as follows:
Non-PID* UK Shareholders SA Shareholders
(GBP pence) (ZAR cents)
Gross amount of non-PID 8.07 200.33936
Less 20% SA dividends tax (where n/a 40.06787
applicable)
Net non-PID payable* 8.07 160.27149
* Non-PID – taxed as a normal dividend
Cash non-PIDs
SA dividends tax at the rate of 20% will apply to cash non-PIDs paid by the Company, unless
the beneficial owner of the Dividend is exempt from SA dividends tax (e.g. if the beneficial
owner is a South African company or a non-South African resident) and the requirements for
claiming the exemption were in place by the required date to permit application of the
exemption. Since no withholding tax is suffered in the UK on cash non-PIDs, no rebate can be
claimed. The relevant regulated intermediary (being the SA transfer secretaries or other
CSDP, Broker or institution, as applicable) will therefore be required to deduct 20% tax on all
cash non-PID's paid to persons who are not exempt from SA dividends tax, and pay this to
the South African Revenue Service.
Shareholders electing the DRIP
Partial elections are not permitted under the DRIP.
SA Shareholders electing the DRIP should note that, in respect of fractional entitlements that
may arise, all allocations of shares will be rounded down to the nearest whole number, and
any residual amounts that are not used to reinvest in shares (as a result of rounding down) will
be paid out to these SA Shareholders in cash. DRIP terms and conditions for SA shareholders
can be found on the Company's website at www.hammerson.com.
It is the Company's understanding that the residual cash paid to SA Shareholders who have
made DRIP elections would already have been taxed prior to the calculation of the number
of shares and any residual cash owing to such SA Shareholders. Accordingly, no further tax
should be payable on the cash paid to SA Shareholders as a result of any fractional
entitlements.
The above information and the guidelines on the taxation of dividends are provided as a
general guide based on the Company's understanding of the law and practice currently in
place. Any shareholder who is in any doubt as to their tax position should seek independent
professional advice.
Registered Office UK Registrars SA Transfer Secretaries
Marble Arch House MUFG Corporate Computershare Investor
66 Seymour Street Markets Services Proprietary Limited
London Central Square (Registration number 2004/003647/07)
W1H 5BX 29 Wellington Street 1st Floor, Rosebank Towers
United Kingdom Leeds 15 Biermann Avenue,
LS1 4DL Rosebank, 2196
South Africa
(Private Bag, X9000, Saxonwold 2132 South
Africa)
For further information contact:
Josh Warren
Director of Strategy, Commercial Finance and Investor Relations
Tel: +44 20 7887 1053
josh.warren@hammerson.com
Richard Crowle
Deputy Company Secretary
Tel: +44 20 7887 1000
Richard.crowle@hammerson.com
Hammerson has its primary listing on the London Stock Exchange and secondary inward
listings on the Johannesburg Stock Exchange and Euronext Dublin.
Sponsor: Investec Bank Limited
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.
Date: 15-04-2025 10:30:00
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