| Fri 30 Sep 2011, 11:26 | | CSO - Capital Shopping Centres Group Plc - Exchange rate for 2011 |
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CSO
CSO
CSO - Capital Shopping Centres Group Plc - Exchange rate for 2011
interim dividend payable to shareholders on the South African register
CAPITAL SHOPPING CENTRES GROUP PLC
(Registration number UK3685527)
ISIN Code: GB0006834344
JSE Code: CSO
Issuer Code: CSCSCG
CAPITAL SHOPPING CENTRES GROUP PLC
EXCHANGE RATE FOR 2011 INTERIM DIVIDEND PAYABLE TO SHAREHOLDERS ON THE
SOUTH AFRICAN REGISTER
Capital Shopping Centres Group PLC confirms that the South African Rand
exchange rate for the 2011 interim dividend of 5.0 pence per ordinary
share to be paid on 22 November 2011, to shareholders registered on 14
October 2011, will be 12.331 ZAR to 1 GBP. Capital Shopping Centres is a
Real Estate Investment Trust and, as in 2010, has chosen to pay the
interim dividend as a Property Income Distribution ("PID") which will be
subject to deduction of a 20% withholding tax.
Accordingly shareholders who hold their shares via the South African
register will receive a dividend per ordinary share as follows:
Gross amount of 61.6550 ZA (GBP pence
dividend cents 5.0p)
Less 20% withholding 12.3310 ZA (GBP pence
tax cents 1.0p)
Net dividend payable 49.3240 ZA (GBP pence
cents 4.0p)
South African shareholders may apply, after payment of the dividend, to
the UK tax authority for a refund of the difference between the 20%
withholding tax and the UK/South African double taxation treaty rate of
15%. Capital Shopping Centres will account to UK HM Revenue & Customs in
sterling for the tax withheld. Settlement of any claims for refund will
also be calculated and settled in sterling.
The information given 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 www.capital-shopping-
centres.co.uk.
SCRIP DIVIDEND ALTERNATIVE
As stated in our results for the half year to 30 June 2011, we have been
reviewing the possibility of introducing a scrip alternative for future
dividends, following a change in the rules governing UK REITS. We
anticipate seeking shareholders` approval at our 2012 AGM for the
introduction of a scrip alternative which, subject to Board discretion,
will apply to the 2011 final and subsequent dividends.
30 September 2011
Sponsor:
Merrill Lynch SA (Pty) Limited
Date: 30/09/2011 11:26:01 Produced by the JSE SENS Department.
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