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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
27 August 2025
On 31 July 2025, the Company announced that the Board of Directors had declared an interim
dividend of 7.94 pence per ordinary share ("Share") for the period ending 31 December 2025 (the
"Interim 2025 Dividend").
The Interim 2025 Dividend will be treated as a Property Income Distribution ("PID") and will be
subject to a 20% UK withholding tax unless exemptions apply.
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
https://uk.investorcentre.mpms.mufg.com/Login/Login. Shareholders registered on the South
African Branch Register should contact their CSDP or Broker for further information.
The Interim 2025 Dividend is payable on Thursday, 16 October 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, 5 September 2025. The
DRIP purchases settlement date (subject to market conditions and the purchase of shares in the
open market) is Monday, 20 October 2025 in the UK and Thursday, 30 October 2025 in South
Africa.
The Interim 2025 Dividend should be regarded as a "foreign dividend" for SA income and SA
dividend tax purposes and the funds will be paid from the United Kingdom.
Shareholders receiving the Interim 2025 Dividend in cash
The Company confirms that the South African Rand exchange rate for the Interim 2025 Dividend
will be ZAR 23.7988 to GBP 1. The Interim 2025 Dividend is payable in South African Rand to SA
Shareholders. Shareholders who do not elect the DRIP will be paid as follows:
PID UK Shareholders SA Shareholders
(GBP pence) (ZAR cents)
Gross amount of PID 7.94 188.96247
Less 20% UK withholding tax/20% SA 1.588 37.79249
dividends tax
Net PID dividend payable* 6.352 151.16998
Less 5% SA Shareholders excess n/a 9.44812
reclaim
Net PID dividend payable** n/a 141.72185
*Net position after SA Shareholders have claimed back 5% from HMRC under the double tax
agreement between the United Kingdom and South Africa.
** Before SA shareholders have claimed back 5% from HMRC under the double tax agreement
between the United Kingdom and South Africa.
Cash PIDs
The information below is intended as a general guide only and is based on Hammerson Plc'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.
The Interim 2025 Dividend should be regarded as a 'foreign dividend' for SA income tax and
dividends tax purposes.
A 20% UK withholding tax is applicable to the Interim 2025 dividend as it will be paid as a PID.
After payment of the PID South African shareholders may apply to HMRC for a refund of the
difference between the 20% UK withholding tax and the UK/South African Double Tax Treaty rate
of 15%, i.e. 5% of the tax withheld.
The Interim 2025 cash dividend will be exempt from SA income tax but it will be subject to SA
Dividends Tax as it will be declared in respect of a share listed on the exchange operated by the
JSE. SA Dividends Tax will apply to the Interim 2025 cash dividend, at a rate of 20%, unless the
beneficial owner of the dividend is exempt from SA Dividends Tax or qualifies for a reduction of
the SA Dividends Tax liability to 5% (if they can claim a credit for the effective 15% UK withholding
tax suffered against the 20% SA Dividends Tax rate). The applicability of the exemption or
reduced rate will be subject to the prescribed requirements for effecting the exemption or
reduction being in place by the requisite date.
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.
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
W1H 5BX 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
Director of Group Performance 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
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.
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
Date: 27-08-2025 10:00:00
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