RDI.L Regulatory News (RDI)

REDEFINE INTERNATIONAL P.L.C.

 ("Redefine International" or the "Company")

(Registered number 010534V)

LSE share code: RDI

JSE share code: RPL

ISIN: IM00B8BV8G91

FINALISATION ANNOUNCEMENT IN RESPECT OF THE SECOND INTERIM DIVIDEND FOR THE YEAR ENDED 31 AUGUST 2015

Redefine International shareholders are referred to the announcement released on 30 October 2015 wherein shareholders were advised that the board of directors ("the board") of the Company had declared a second interim dividend of 1.65 pence per share (the "dividend") in respect of the year ended 31 August 2015 and that the board intended to offer to shareholders the election to receive either a cash dividend ("cash dividend") or a scrip dividend by way of an issue of new Redefine International shares (of the same class as existing shares) credited as fully paid up ("scrip dividend").

The total dividend to be paid, whether as a cash dividend or scrip dividend, will be paid as follows:

- 0.330 pence (20%) will comprise a property income distribution ("PID"). The PID will be subject to a deduction of a 20% UK withholding tax unless exemptions apply.

- 1.320 pence (80%) will comprise a non-PID. As a non-PID, this will be treated as an ordinary UK company dividend, with no withholding tax deducted.

The Company is now pleased to announce the scrip dividend reference price applicable to the scrip dividend and, for shareholders on the SA share register, the exchange rate applicable to the cash dividend. The salient dates for payment of the dividend published in the announcement dated 30 October 2015 remain unchanged.

Further details on the scrip dividend are contained in the circular which was posted on 30 October 2015 (the "circular"), and the related election form, copies of which are available at www.redefineinternational.com. Terms defined in the circular shall bear the same meaning in this announcement.

(i) Shareholders receiving the cash dividend

The Company confirms that the South African Rand exchange rate for the dividend will be 21.32550 ZAR to 1 GBP. Shareholders who do not make an election to receive shares will receive a cash dividend per share which will be paid as follows:

* Certain categories of UK shareholders may apply for exemption, in which case the PID element will be paid gross.

(ii) Shareholders who elect to receive shares

(a) Dividend equivalent values:

Shareholders who make an election to receive the scrip dividend instead of the cash dividend will receive shares with a value equivalent to a dividend per share as follows:

* Certain categories of UK shareholders may apply for exemption, in which case the PID element will be paid gross.

(b) Share entitlement: Shareholders on the UK share register:

For Redefine International shares traded on the LSE, the scrip dividend reference price is calculated as a 2.5% discount on the average of the middle market quotations of a Redefine International share derived from the daily Official List for the last five dealing days prior to 5 November 2015, less the amount of the dividend per Redefine International share. Accordingly the scrip dividend reference price applicable to shareholders on the UK share register is 52.365 pence. The scrip dividend share allocation will be as follows:

The number of shares to be allocated will be calculated by dividing the total value of the dividend otherwise receivable by the shareholder by the scrip dividend reference price. Any fractional entitlement which:

- is less than one half of a new Redefine International share, will be rounded down to the nearest whole number;

- is equal to or greater than one half of a new Redefine International share but less than a whole new Redefine International share, will be rounded up to the nearest whole number; and

- no fractions of scrip dividend shares will be issued, nor will any residual entitlements be carried forward to any future scrip dividend issue, and any amount of dividend not represented by scrip dividend shares will not be paid or payable to the relevant shareholders in respect of that dividend, but will be retained by the Company.

(c) Share entitlement: Shareholders on the South Africa share register:

For Redefine International shares traded on the JSE, the scrip dividend reference price will be calculated as a 2.5% discount on the average of the middle market quotations of a Redefine International share as provided by the JSE for the last five dealing days on the JSE prior to 5 November 2015, less the amount of the dividend per Redefine International share as converted into Rand at the exchange rate of 21.32550 ZAR to 1 GBP. Accordingly the scrip dividend reference price applicable to shareholders on the SA share register is 1,115.11793 ZAR cents. The scrip dividend share allocation will be as follows:

The number of shares to be allocated will be calculated by dividing the total value of the dividend otherwise receivable by the shareholder by the scrip dividend reference price. Any fractional entitlement which:

- is less than one half of a new Redefine International share, will be rounded down to the nearest whole number;

- is equal to or greater than one half of a new Redefine International share but less than a whole new Redefine International share, will be rounded up to the nearest whole number; and

- no fractions of scrip dividend shares will be issued, nor will any residual entitlements be carried forward to any future scrip dividend issue, and any amount of dividend not represented by scrip dividend shares will not be paid or payable to the relevant shareholders in respect of that dividend, but will be retained by the Company.

By way of illustration of the above, the scrip dividend share calculation will be as follows for a shareholder who holds 100 shares:

(iii) Notes for shareholders on the SA share register

On application by shareholders on the SA share register, 5% of the 20% UK withholding tax deducted in respect of the PID element of the cash dividend is claimable from the UK's HM Revenue & Customs ("HMRC"), resulting in an effective UK withholding tax rate of 15%. The Company will account to HMRC in Pounds Sterling for the total UK withholding tax deducted. Settlement of any claims for refund will be calculated and settled in Pounds Sterling by HMRC.

The information given in section (i) and (ii) above, as applicable, will assist with applications for refunds. For information on PIDs and refund claims, including claim forms and guidance on how to complete them, visit http://www.redefineinternational.com/investor-relations/real-estate-investment-trust/.

The number of shares in issue as at the declaration date was 1,474,331,331 ordinary shares of 8 pence each.

For further information:

Notes to editors:

Redefine International (RDI) is a FTSE 250 income focused UK-REIT with a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange.

The Group's investment portfolio is diversified across the retail, commercial and hotel sectors in the UK and Germany with an aggregate value in excess of £1.3 billion.

Redefine International is focused on delivering sustainable and growing income to shareholders through investment in income yielding assets let to high quality occupiers on long leases. Capital values are enhanced and protected by asset management and other low capex development activities.

As a UK-REIT, the Group aims to distribute the majority of its earnings available for distribution on a semi-annual basis, providing investors with attractive income returns as well as exposure to capital growth opportunities.

www.redefineinternational.com