Dividends

The return to shareholders made in 2016 was paid as an interim dividend. Please see the table below for further information regarding this payment:

 

Payment date

Amount per share

Ex-dividend date

Record date for dividend

1 April 2016

110p

3 March 2016

4 March 2016

  

B/C Share Issues

The returns of cash in 2013, 2014 and 2015 were effected through the bonus issues of B and/or C Shares to shareholders based on individual shareholder elections at the record date for entitlement.

These bonus issues are expected to constitute reorganisations for the purposes of United Kingdom taxation of capital gains tax and corporation tax on chargeable gains.  As a result, the base cost (allowable expenditure) of holdings of Ordinary Shares before the bonus issue is apportioned between the Ordinary Shares and the B and/or C Shares arising from the bonus issues.

The apportionment, as prescribed by section 130(2) Taxation of Chargeable Gains Act 1992 (“TCGA”) is in general terms based on respective market values on the first day of trading after the re-organisation on which a price for the Ordinary Shares was quoted on the London Stock Exchange. The market value of the Ordinary Shares has been calculated using the methodology prescribed by s272(3) TCGA.  The market value of a B/C Share is assumed to be the B Share redemption amount or the C Share dividend amount as appropriate.

 

Date of Circular

 

18 March 2013

17 March 2014

24 February 2015

Record date for entitlement

 

19 April 2013

4 June 2014

19 March 2015

Date of issue of B and C Shares

 

6 May 2013

23 June 2014

30 March 2015

First day of trading after B/C share issue

 

7 May 2013

24 June 2014

31 March 2015

Number of B/C shares issued per ordinary share

 

1

1

1

Market values

Price of Ordinary Share on first day of trading

1078.5p

1205.5p 

1662.5p

Assumed value of B/C Shares

75p

70p

95p

Allocation of original base cost

Ordinary Share

1078.5/(1078.5+75) = 93.50%

1205.5/(1205.5+70) = 94.51% 

1662.5 / (1662.5 + 95) = 94.59%

B/C Share

75/(1078.5+75) = 6.50%

70/(1205.5+70) = 5.49% 

95 / (1662.5 + 95) = 5.41%

Date of redemption of B Shares

 

28 June 2013

4 July 2014

2 April 2015

Date of C Share Dividend payment

 

28 June 2013

4 July 2014

2 April 2015

 

The information provided above is only intended to provide general guidance to UK shareholders and is not intended to be, and should not be construed to be, legal or taxation advice to any particular UK shareholder.  If you are in any doubt as to your tax position, you are recommended to seek your own tax advice from an independent professional adviser. This note must be read in conjunction with the appropriate Circular where certain terms are defined.