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INTU PROPERTIES PLC - Confirmation of Dividend Timetable for the Cash 2018 Interim Dividend

Release Date: 09/10/2018 11:10
Code(s): ITU     PDF:  
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Confirmation of Dividend Timetable for the Cash 2018 Interim Dividend

INTU PROPERTIES PLC
(Registration number UK3685527)
ISIN Code:    GB0006834344
JSE Code:      ITU


LEI: 213800JSNTERD5CJZO95


9 October 2018

CONFIRMATION OF DIVIDEND TIMETABLE FOR THE CASH 2018 INTERIM
DIVIDEND, EXCHANGE RATE AND NOTIFICATION THAT SCRIP DIVIDEND
ALTERNATIVE WILL NOT BE OFFERED

On 26 July 2018, the Directors proposed an interim dividend for 2018 of 4.6 pence
per share (the “dividend”). The dividend will be wholly paid as a Property Income
Distribution (“PID”) which will be subject to deduction of a 20 per cent UK withholding
tax unless exemptions apply. Today we are announcing the dividend payment date,
20 November 2018.

A scrip dividend alternative will not be offered on this occasion and all shareholders
will therefore receive the dividend in cash.

For further information regarding their holdings, or the interim dividend, we
recommend that shareholders contact our registrars in the UK or South Africa as
follows:-

UK Shareholders:
Link Asset Services, The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TU
(Tel: +44 (0) 371 664 0300). Calls are charged at the standard geographic rate and
will vary by provider. Calls outside the United Kingdom will be charged at the
applicable international rate. Lines are open between 9.00am – 5.30pm, Monday to
Friday excluding public holidays in England and Wales.

SA Shareholders:
Link Market Services, 13th Floor, 19 Ameshoff Street, Braamfontein PO Box 4844
Johannesburg, 2000, South Africa (Tel: +27 (0) 861 546572).

or by download from
intugroup.co.uk/en/investors/shareholder-information/dividends/


DIVIDEND TIMETABLE

A timetable of events in relation to the dividend is set out below.

Currency Conversion Date (Sterling/Rand)                      Monday 8 October 2018
Finalisation Date                                             Tuesday 9 October 2018
Ex-dividend date (SA)                                      Wednesday 17 October 2018
Ex-dividend date (UK)                                       Thursday 18 October 2018
Record Date (both UK and SA)                                   Friday 19 October 2018
Last date for receipt of Tax Exemption Declaration             Friday 19 October 2018
Forms to permit dividend to be paid gross (UK
Shareholders only)
Dividend payment date (UK & SA)                             Tuesday 20 November 2018

SA shareholders should note that, in accordance with the requirements of Strate, the
last day to trade cum-dividend will be Tuesday 16 October 2018 and that no
dematerialisation or rematerialisation of shares will be possible from Wednesday 17
October to Friday 19 October 2018 inclusive. No transfers between the UK and
South African registers may take place from Tuesday 9 October to Friday 19 October
2018 (both days inclusive).



EXCHANGE RATE

(i) Shareholders receiving the dividend in cash:

The Company confirms that the South African Rand exchange rate for the 2018
interim dividend will be 19.4968 ZAR to 1 GBP. Shareholders will receive a cash
dividend per ordinary share which will be paid wholly as a PID as follows:

                                         UK Shareholders       SA Shareholders
Gross amount of PID                      GBP pence 4.60 89.68528 ZAR cents
Less 20% withholding tax*/20% SA         GBP pence 0.92 17.93706 ZAR cents
dividends tax**
Net PID dividend payable                 GBP pence 3.68 71.74822 ZAR cents
*Certain categories of UK shareholder may apply for exemption, in which case the
PID will be paid gross.
**This is the net position after SA Shareholders have claimed back 5% from HMRC
under the double tax agreement between the United Kingdom and South Africa


(ii) Notes for South African shareholders

A 20 per cent UK withholding tax will be deducted from the cash PID. The Company
will account to Her Majesty’s Revenue & Customs (“HMRC”) in sterling for the total
UK withholding tax deducted. SA dividends tax, at the rate of 20 per cent will apply to
the cash PIDs payable by the Company unless the beneficial owner of the dividend is
exempt from SA dividends tax.

Under the double tax agreement between the UK and South Africa, the maximum tax
payable in the UK is 15 per cent. Therefore on application by South African
shareholders, 5 per cent of the PID (i.e. one quarter of the 20 per cent UK
withholding tax deducted from a PID) is claimable from HMRC, resulting in an
effective UK withholding tax rate of 15 per cent. Settlement of any claims for refund
will be calculated and settled in sterling by HMRC. As UK withholding tax will be
applicable at an effective rate of 15 per cent, the SA dividends tax liability will be
reduced to 5 per cent. In such cases the overall tax deducted will therefore be 20 per
cent (15 per cent in the UK and 5 per cent in South Africa).

The information given in section (i) above will assist with applications for refunds. For
information on PIDs and refund claims, including claim forms and guidance on how to
complete them, visit intugroup.co.uk/en/investors/shareholder-information/real-
estate-investment-trust/.

The number of shares in issue as at the declaration date (i.e. 9 October 2018) is
1,355,040,243 ordinary shares of 50p each.


The above information, and the guidelines on the taxation of dividends, including
when taken as scrip shares, contained in the Scrip Dividend Scheme Booklet, is
provided as a general guide based on the Company’s understanding of the law and
practice currently in force. Any shareholder who is in any doubt as to their tax
position should seek independent professional advice.


JSE Sponsor:
Merrill Lynch South Africa (Pty) Limited

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