Can I move shares between the two locations?
Yes, SEGRO shares can be moved between the clearing and settlement systems for the London Stock Exchange and Euronext Paris, Euroclear UK & Ireland and Euroclear France respectively, through the inter-custodial linkage mechanism provided through Euroclear Bank. The transfer of shares is executable within the same business day (although it is advisable to rely on a T+1 timeframe as a buffer), provided correct instructions and transfer forms are in place before 16:25 CET.
Investors are advised to seek advice from their broker or custodian ahead of considering a share transfer. Shares listed on the London Stock Exchange and traded in the UK are the same as those listed on Euronext Paris and traded in France, with the same rights and ISIN code GB00B5ZN1N88.
Will there be a market for SEGRO shares on Euronext Paris?
It is expected that the liquidity of SEGRO shares on Euronext Paris will be significantly lower than on the London Stock Exchange and accordingly it is likely that SEGRO shares will be significantly easier to trade on the London Stock Exchange compared to Euronext Paris.
When can I move my shares?
SEGRO shares were admitted to trading on Euronext Paris on 24 November 2020. Since this date, shares are capable of being transferred freely, subject to the outlined transfer process and the trading and settlement cycles in the respective markets.
Who do I contact to move shares between the two locations?
Your primary contact to advise and execute on a transfer of shares between Euroclear UK & Ireland and Euroclear France should be your existing domestic broker or custodian for your SEGRO shares. Your broker/custodian will need to communicate your transfer instructions to Euroclear Bank, Euroclear France, Euroclear UK & Ireland and Equiniti at the below contacts:
Euroclear UK & Ireland
Cross-border Settlement - UK Dedicated Specialist:
SEGRO plc Registration Line:
Registration: 0371 384 2186
International: +44 (0)121 415 0141
SEGRO does not action any part of the stock transfer process. The entire transfer mechanism is managed through the custodial link between Euroclear UK & Ireland and Euroclear France via Euroclear Bank.
Do I need to have a custodian in each location?
Yes, your broker or custodian will need to be set up to hold shares in the Euroclear platform in the market to which your shares are being transferred i.e. Euroclear UK & Ireland or Euroclear France. Please consult your broker or custodian to ensure your custodial account arrangements are sufficient to execute a transfer of shares or whether alternative arrangements should be made.
Any investor wishing to transfer shares should consult their broker or custodian for advice on moving their shares and the associated risks and costs. Transfer instructions should be communicated through your broker or custodian.
Who do I need to deliver my shares in Euroclear France to?
If you hold your shares in certificated form, your broker or custodian will need to be instructed to deliver shares to Euroclear Bank’s Euroclear UK & Ireland account for onward delivery to your applicable Euroclear France custodial arrangements, via the Euroclear Bank safekeeping account in Euroclear France. Your broker will request you to complete a Crest transfer form (certificated to Crest). This should be completed and returned to them together with the accompanying share certificate(s). Upon receipt your broker will submit this transfer form and share certificate(s) via the Crest Counter for onward transmission to Equiniti.
If you currently hold your shares electronically through, your broker or custodian will need to arrange a trade and settlement instruction with the counterparty. Once agreed, they will both need to input into the CREST settlement system the appropriate matching delivery message. The settlement of the CREST message will then be electronically notified to Equiniti automatically and no action further action is required by your broker.
How long will share transfers take?
The transfer of shares is executable within the same business day (although it is advisable to rely on a T+1 timeframe as a buffer), provided correct instructions and transfer forms are sent to the appropriate market participants (Euroclear Bank, Equiniti, Euroclear UK & Ireland and Euroclear France) before 16:25 CET. Such communications should be instructed and channelled through your broker or custodian.
Is the movement delivery-versus-payment (DVP) or delivery-free-of-payment (DFP)?
All share transfers will be processed free-of-payment and with no change in beneficial ownership.
How do trading and settlement practices differ between France and the UK?
Shares traded on the London Stock Exchange are settled and cleared through the Euroclear UK & Ireland platform. The settlement cycle is T+2 and shares are primarily listed and traded in GBP.
Shares traded on Euronext Paris are settled and cleared through the Euroclear France platform. The settlement cycle is T+2 and shares are primarily listed and traded in EUR.
Investors wishing to transfer shares between Euroclear UK & Ireland and Euroclear France need to be mindful of domestic practices, requirements and applicable costs for holding and trading shares domestically, and are advised to consult their broker or custodian before undertaking any transfer of shares.
What are my foreign exchange (“FX”) exposures as a result of a transfer?
Shares held in the UK will be denominated in GBP, while shares held in France will be denominated in EUR. Investors are advised to consult their broker or custodian for guidance on FX exposure and potential associated risks arising from a transfer of shares between the two markets.
Where share movement represents a transaction between a EUR seller/buyer and a GBP buyer/seller (i.e. a stock transfer undertaken at the time of executing the trade rather than prior to execution), the two parties will need to agree who bears the EUR/GBP currency difference, if any.
Are there any costs associated with transferring shares between markets?
Please consult your broker or custodian to confirm the relevant costs which will apply.
Will my rights as a shareholder for corporate actions and dividends be affected if my shares are transferred?
Shares listed on the London Stock Exchange and traded in the UK are the same as those listed on Euronext Paris and traded in France, with the same ISIN code GB00B5ZN1N88. Shares have the same voting rights and rights to dividends. Corporate action notifications will be made available through Euroclear France by BNP Paribas Securities Services.
Will the dividend/corporate action dates be the same across the two markets?
Dividend and corporate action dates will be the same across all markets on which SEGRO shares are traded.
In what denomination will dividends be paid?
Dividends payable in respect of shares held in the UK will be paid in GBP via Euroclear UK & Ireland, and dividends payable in respect of shares held in France will be paid in GBP via Euroclear France (with any conversion to EUR being made by the relevant custodian unless instructed otherwise).
Please advise our Registrars, Equiniti Limited, in writing which certificate is lost and you will be sent a Letter of Indemnity for completion. You should sign and return this letter to the Registrars so that a duplicate share certificate can be issued (there will be a cost for this service).
Registrars' details are: Equiniti Limited, Aspect House, Spencer Road, Lancing, West Sussex, BN99 6DA. Telephone 0371 384 2186 (overseas shareholders should call +44 (0) 121 415 7047).
Packaged Retail and Insurance-based Investment Products Regulation
The Packaged Retail and Insurance-based Investment Products (PRIIPs) Regulation, in effect from 1 January 2018, applies to those entities who manufacture, advise on, or sell PRIIPs.
SEGRO plc is an internally managed Real Estate Investment Trust. As a corporate share, the price of SEGRO plc shares is not solely dependent on the value of our assets but also on wider market conditions, and our costs relate to running the business rather than on a set fee paid to an external manager.
We therefore do not consider that the PRIIPs Regulation applies to SEGRO plc and that we are not required to produce a Key Information Document (KID).
For further information on the PRIIPs Regulation, please visit the FCA website: https://www.fca.org.uk/firms/priips-disclosure-key-information-documents
Dividends are usually paid in May (final dividend) and October (interim dividend). You can view the Company's recent dividend history here.
Yes, dividends can be paid direct to your account (the tax voucher will continue to be sent to your registered address). Dividend mandate forms are available from Equiniti Limited at www.shareview.co.uk. If you have registered for Shareview Portfolio you can update this information online. Alternatively you can make your request by telephoning Equiniti Limited on 0371 384 2186 (overseas shareholders should call +44 (0) 121 415 7047).
You should contact Equiniti Limited to arrange for a replacement cheque. A replacement cheque can be requested online through www.shareview.co.uk, over the telephone by calling 0371 384 2186 (overseas shareholders should call +44 (0) 121 415 7047), or by post. Further details are provided at www.shareview.co.uk under 'Help'.
If you have not received a dividend payment it may be because the address details held for you by our Registrars are incorrect or you purchased the shares after the ex-dividend date and were not entitled to receive the dividend.
The Company's shares can be bought or sold through any stockbroker or share dealing service and fees may vary. The Company's Registrar, Equiniti Limited, also offer the following dealing services:
Shareview Dealing Service
This service allows trading in shares online or over the phone. Please note that dealing charges will be applied subject to a minimum fee. A breakdown of the fees chargeable can be found online at www.shareview.co.uk, but are typically 1.5% of the transaction value subject to a minimum fee of £40-45.
This service is available from 8.00 am to 4.30 pm, Mondays to Fridays (excluding bank holidays) for both the online and the telephone facility.
If you are interested in the online facility, visit www.shareview.co.uk, click on the "Deal with certificates" link located on the left hand side under the “Share Dealing” heading.
The telephone dealing service can be accessed by calling 03456 037 037.
Equiniti offer a postal dealing service to shareholders with a registered UK address. To use this service, shareholders need to download a postal dealing form from www.shareview.co.uk which includes Frequently Asked Questions, Terms and Conditions and how to use the service. Click the “Trade shares by post” link under the “Help and guides” heading on the right hand side.
The sale/purchase fee is 1.75% of the transaction value subject to a minimum fee of £55.
You should complete a gift transfer form and return it to Equiniti Limited with your share certificate(s). To obtain a gift transfer form please telephone 0371 384 2186 or visit www.shareview.co.uk.
Yes, provided they are 18 years of age and over. Company law precludes us from registering the shares into the names of minors. In order to transfer shares you will need to complete a Stock Transfer Form and return the original share certificates. Please visit www.shareview.co.uk or telephone Equiniti Limited on 0371 384 2186 (overseas shareholders should call +44 (0) 121 415 7047) for further details.
Equiniti Limited will require a certified copy of the death certificate, a sealed office copy of the Grant of Representation when available and the share certificate. Once the Grant has been noted in the Registrar's records, a Share Transfer Form must be completed and returned to the Registrars and they will arrange to have the shares transferred into the name of the beneficiary.
If a Grant of Representation is not being obtained, next of kin may use the Small Estates service.
Further information about this process is available at www.shareview.co.uk or by calling Equiniti’s Breavement Helpline on 0371 384 2186 (overseas shareholders should call +44 (0) 121 415 7047).
If you have previously registered for a Shareview Portfolio, you can update your details online at www.shareview.co.uk. If you do not already have a Shareview Portfolio, you will need to notify Equiniti Limited of any changes by phone or post. This is because, as part of the Shareview registration process, an activation letter is sent to your current registered address.
To inform Equiniti Limited of a change by telephone, please call 0371 384 2186 (overseas shareholders please call +44 (0) 121 415 7047). A change of address can only be accepted over the telephone for a shareholding of fewer than 2,500 shares.
Please download an Address Change Form from www.shareview.co.uk to inform Equiniti Limited of a change by post. Alternatively you can submit a written request to Equiniti Limited, Aspect House, Spencer Road, Lancing, BN99 6DA, ensuring you include your shareholder reference number, old and new addresses, and full name(s) of shareholder(s).
Shareholdings can be checked by registering for a Shareview Portfolio with Equiniti Limited at www.shareview.co.uk. From here you can access your shareholdings, including balances, movements, indicative share prices, information on recent dividends and portfolio valuations.
A balance of a shareholding can also be requested over the telephone by calling the Shareholder Helpline on 0371 384 2186 (overseas shareholders should call +44 121 415 7047) or by sending a written request to Equiniti Limited, Aspect House, Spencer Road, Lancing, BN99 6DA.
Yes, you can choose to receive your shareholder communications electronically once you have registered for a Shareview Portfolio with Equiniti Limited at www.shareview.co.uk. You can also submit your proxy vote electronically through your online Shareview Portfolio.
Duplicates can be obtained from Equiniti Limited. There will be a cost for this service of £15 for the first duplicate tax certificate and then £3 for each subsequent certificate.
You can contact Equiniti to request duplicates by email through www.shareview.co.uk, by telephoning the Shareholder Helpline 0371 384 2186 (overseas shareholders please call +44 (0) 121 415 7047), or by writing to Equiniti Limited, Aspect House, Spencer Road, Lancing, West Sussex, BN99 6DA.
Yes, the Halifax provides Individual Savings Accounts (ISAs) and details are available on 03457 225 525.
On 20 August 2007, the ordinary 25 pence shares of SEGRO plc were consolidated on a 12 for 13 basis. The nominal value of the ordinary shares following consolidation was 27 1/12 pence. The consolidation was accompanied by a special dividend of 53 pence per share held prior to the consolidation.
On 7 April 2009, the nominal value of the ordinary 27 1/12 pence shares of SEGRO plc was changed to 1 pence per ordinary share. This change was implemented in conjunction with a rights issue which gave shareholders the rights to take up 12 new shares for each existing share held.
On 31 July 2009, as part of an open offer and placing, the ordinary shares of 1 pence were consolidated on 1 for 10 basis and following this consolidation the nominal value of the ordinary shares is 10 pence per share.
Equiniti Limited works with ShareGift which specialises in helping shareholders donate shares to a wide range of UK registered charities. To take advantage of this service, you should complete the ShareGift Transfer Form which is available from www.shareview.co.uk and send it, with your original share certificate, to Equiniti Limited, Aspect House, Spencer Road, Lancing, West Sussex, BN99 6DA.
This service is completely free of charge.
Other charities may also accept donations of shares.
Sale of shares by non-UK resident shareholders
From 6 April 2019, any gain on sale of SEGRO shares will be within the charge to UK tax for non-UK resident shareholders if SEGRO is UK property rich at the time of disposal. This is subject to possible tax treaty relief or exemptions for tax exempt investors.
For the purpose of the rules, SEGRO is UK property rich if at least 75% of its assets are located in the UK. As at 30 June 2023, approximately 61% of SEGRO’s assets are located in the UK meaning that, on this basis, SEGRO is not UK property rich as at 30 June 2023. However, shareholders should undertake their own analysis at the time of disposal to determine whether the rules apply and whether SEGRO is UK property rich.
Should SEGRO be UK property rich at the time of disposal, and if the SEGRO shares were purchased prior to 5 April 2019, any gain for non-UK residents will be calculated by deducting the value at 5 April 2019 from the net sale proceeds, with the option to elect instead to deduct original cost (but it cannot create an allowable loss). The closing price of SEGRO plc shares on 5 April 2019 was £6.802 per share.
Further information can be found on the HM Revenue & Customs website. Please note that for the purposes of the rules, SEGRO plc, as a Real Estate Investment Trust (REIT), is considered to be a Collective Investment Vehicle (CIV).
The above summary of the UK tax consequences for shareholders with respect to the Non-Resident Capital Gains Tax rules is intended to provide only a general outline of the topic and is restricted to UK tax consequences only. It should neither be regarded as comprehensive nor sufficient for making decisions, nor should it be used in place of independent professional tax advice. SEGRO plc accepts no responsibility for any loss arising from any action taken or not taken by any person using this material. We recommend that shareholders consult their own professional advisors to confirm their tax position with respect to the Non-Resident Capital Gains Tax rules.