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

NOTICE TO REDEFINE INTERNATIONAL SHAREHOLDERS IN RESPECT OF AN ELECTION TO RECEIVE EITHER A CASH DIVIDEND OR A SCRIP DIVIDEND

CASH DIVIDEND OR SCRIP DIVIDEND

Shareholders were advised today Wednesday, 29 October 2014 that the board of directors (the "board") of the Company has declared a second interim dividend of 1.70 pence per share (the "dividend") in respect of the six months ended 31 August 2014 and that the board intends offering to shareholders the election to receive 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") or a cash dividend ("cash dividend"). The total dividend paid will be subject to the following parameters:

· A property income distribution ("PID") element of 1.16 pence per share and a non-PID element of 0.54 pence per share. The PID will be subject to a deduction of a 20 per cent UK withholding tax unless exemptions apply. The non-PID element will be treated as an ordinary UK dividend, with no withholding tax deducted.

· The non-PID element will first accrue to the Shareholders who make an election to receive shares and thereafter pro-rata to the cash dividend if any non-PID element is remaining.

A cash dividend will be paid to shareholders unless shareholders elect to receive the scrip dividend. Should a shareholder elect to receive the scrip dividend, such shareholder will become entitled to a number of new Redefine International shares, the value of which will be as near as possible to the cash dividend which they would have otherwise received. A shareholder's entitlement to new Redefine International shares will be calculated by multiplying the number of shares held by that shareholder at the record date by the gross dividend per share of 1.70 pence and dividing it by the scrip dividend reference price which will be calculated as follows:

· for Redefine International shares traded on the LSE, 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 the announcement of the Pound Sterling to Rand conversion rate, less the amount of the dividend per Redefine International share; and

· for Redefine International shares traded on the JSE, 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 the announcement of the Pound Sterling to Rand conversion rate, less the amount of the dividend per Redefine International share as converted into Rand at the exchange rate.

Where UK withholding tax has to be accounted for, the calculation will be by reference to the gross amount of the dividend per share less the current applicable withholding tax rate of 20 per cent.

The rationale for the scrip dividend is to afford shareholders the opportunity to increase their shareholding in Redefine International and to retain flexibility with regard to the Company's cash resources.

The cash dividend will be paid out of the Company's distributable profits.

As at the date of this announcement, the Company had 1,296,097,349 ordinary shares of 8 pence each in issue.

A circular to Redefine International shareholders in respect of the election being offered to Redefine International shareholders to receive either the cash dividend or the scrip dividend, together with an election form, has been posted to shareholders on Wednesday, 29 October 2014 (the "circular") and is available on the Company's website at www.redefineinternational.com. Terms defined in the circular shall bear the same meaning in this announcement.

SALIENT DATES AND TIMES

For shareholders on the UK share register

Notes:

1. All dates and times quoted above are local dates and times in the United Kingdom. The above dates and times are subject to change. Any changes will be released on RNS.

2. Redefine International shareholders are referred to the circular for information on the action required to be taken by them.

3. Shares may not be dematerialised or rematerialised, nor may transfers of shares between sub-registers in the United Kingdom and South Africa take place between Monday, 17 November 2014 and Friday, 21 November 2014 both days inclusive.

For shareholders on the SA share register

Notes:

1. All dates and times quoted above are local dates and times in South Africa. The above dates and times are subject to change. Any changes will be released on SENS.

2. Redefine International shareholders are referred to the circular for information on the action required to be taken by them.

3. Shareholders should note that new Redefine International shares should not be traded until the new Redefine International shares are issued or reflect in their accounts with their CSDP or broker on Friday, 5 December 2014.

4. Share certificates may not be dematerialised or rematerialised nor may transfers of shares between sub-registers in the United Kingdom and South Africa take place between Monday, 17 November 2014 and Friday, 21 November 2014 both days inclusive.

5. Shareholders on the SA share register will receive a cash dividend in South African Rand, based on the exchange rate to be obtained by the Company on or before Thursday, 6 November 2014. An announcement in this respect will be made on or before Thursday, 6 November 2014.

Redefine International is a UK REIT with a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange.