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Update to Notice of Interim Dividend for Shareholders on the South African Register
Primary Health Properties PLC
(Incorporated in the United Kingdom)
Company Number: 3033634
LSE Share Code: PHP
JSE Share Code: PHP
ISIN Code: GB00BYRJ5J14
LEI: 213800Y5CJHXOATK7X11
("PHP" or the "Company")
Update to Notice of Interim Dividend for Shareholders on the South African Register
The Company announces that the third quarterly interim dividend in 2024 of 1.725 pence per ordinary
share of a nominal value of 12.5 pence each will be paid as 1.45 pence by way of a Property Income
Distribution ("PID") and the remainder as an ordinary dividend of 0.275 pence ("Non-PID") on Friday,
16 August 2024 to shareholders on the register on 5 July 2024. The interim 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.
Certain qualifying shareholders may receive PIDs without deduction of withholding tax and further
details are available on the Company's website www.phpgroup.co.uk.
The Company also confirms, further to its announcement on RNS on 5 January 2023, that shareholders
on the UK share register ("UK Shareholders") may participate in a dividend reinvestment plan ("DRIP")
in respect of the current interim dividend and any future dividends. The DRIP is provided by Equiniti
Financial Services Limited ("Equiniti FS") and administered by PHP's registrars, Equiniti Limited
("Equiniti"), and provides UK Shareholders with the opportunity to reinvest dividend payments to
purchase additional ordinary shares in PHP in the market. The DRIP is currently not available to
shareholders on the South African ("SA") share register ("SA Shareholders"). SA Shareholders will
receive the third quarterly interim dividend in cash.
UK Shareholders who hold their ordinary shares in certificated form and who wish to participate in the
DRIP will need to ensure that a completed DRIP Application Form is received by Equiniti no later than
5:00pm UK time on Friday, 26 July 2024 (the "Election Date"). Shareholders who hold their ordinary
shares in CREST and who wish to participate in the DRIP must do so by submitting an election by
CREST input message by the Election Date.
The key dates for the dividend are detailed in the timetable below.
Timetable
Last day to trade (SA Shareholders) Tuesday, 2 July 2024
Ex-dividend date (SA Shareholders) Wednesday, 3 July 2024
Last day to trade (UK Shareholders) Wednesday, 3 July 2024
Ex-dividend date (UK Shareholders) Thursday, 4 July 2024
Record Date Friday, 5 July 2024
Latest date for receipt by Equiniti of DRIP Application 5.00 p.m. UK time on Friday, 26 July 2024
Forms and input of CREST elections (UK Shareholders)
Dividend payment date – CSDP/broker accounts Friday, 16 August 2024
credited/updated//CREST credit date
Estimated DRIP purchase date (UK Shareholders) Friday, 16 August 2024
DRIP shares credited/certificates posted Wednesday, 21 August 2024
(UK Shareholders)
The above dates and times are subject to change. Any changes will be released on RNS and SENS as
soon as practically possible.
To facilitate settlement of the dividend to entitled SA Shareholders, share certificates may not be
dematerialised or rematerialised between Wednesday, 3 July 2024 and Friday, 5 July April 2024. No
transfers of shares shall be registered in the SA share register, or between the SA share register and
the UK share register, between Thursday, 27 June 2024 and Friday, 5 July 2024. All dates are
inclusive.
Shareholders receiving the dividend in cash
SA Shareholders are advised that the exchange rate for the dividend will be 23.0393 ZAR to 1.00 GBP
(the "Exchange Rate"), resulting in a gross local dividend amount of 39.74279 ZAR cents per share.
The aforesaid rate was fixed by the Company on 26 June 2024. The date on which the Sterling payment
will be converted to ZAR will be 9 July 2024.
Accordingly, shareholders will be paid a cash dividend per share as follows:
Dividend UK Shareholders SA Shareholders
(GBP pence) (ZAR cents)
Total (gross) 1.725 39.74279
Gross amount of PID 1.45 33.40699
Less 20% UK withholding tax* 0.29 6.68140
Net PID dividend payable** 1.16 26.72559
Less effective 5% SA dividends tax for SA N/A 1.67035
Shareholders***
Net PID dividend payable*** 1.16 25.05524
Non-PID dividend payable 0.275 6.33581
Less 20% SA dividends tax**** N/A 1.26716
Net non PID dividend payable 0.275 5.06865
* Certain categories of UK Shareholders may apply for exemption, in which case the PID element will be paid gross of UK
withholding tax.
** Net position after deducting UK withholding tax for both UK and SA Shareholders, but before SA Shareholders have claimed
back 5% from His Majesty's Revenue & Customs under the double tax agreement between the United Kingdom and South Africa
in respect of the UK withholding tax.
*** SA dividends tax applies at the rate of 20% for SA Shareholders, but SA Shareholders receive a rebate of the UK withholding
taxes suffered (which is effectively 15%, after taking into account the 5% rebate referred to in **).
**** SA dividends tax applies at the rate of 20% for SA Shareholders if an exemption does not exist.
Legal Entity Identifier: 213800Y5CJHXOATK7X11
The issued share capital of PHP is 1 336 493 786 ordinary shares of 12.5 pence.
For further information:
Primary Health Properties PLC
Richard Howell, Chief Financial Officer +44(0) 776 6072 272
Toby Newman, Company Secretary & Chief Legal Officer +44(0) 772 9047 959
The Company has a primary listing on the London Stock Exchange and a secondary listing on the JSE
Limited.
United Kingdom
27 June 2024
Sponsor: PSG Capital
Date: 27-06-2024 09:00:00
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