Persimmon PLC Result of B/C Share Elections (8873I)
March 30 2015 - 10:03AM
UK Regulatory
TIDMPSN
RNS Number : 8873I
Persimmon PLC
30 March 2015
30 March 2015
Persimmon Plc (the 'Company')
RETURN OF CASH TO SHAREHOLDERS - RESULTS OF B/C SHARE
ELECTIONS
Following the approval by Shareholders of the proposed Return of
Cash of 95 pence per Ordinary Share by means of an issue of B
Shares and/or C shares, the Company today provides the number of B
and C share elections.
As at the Election Deadline of 11.00 am on 27 March 2015,
Shareholders' elections or deemed elections for B and C Shares in
respect of the Return of Cash were as follows:
Number of Ordinary Shares
C Shares (Income Option) 201,548,311
B Shares (Capital Option) 104,977,184
TOTAL 306,525,495
Shareholders who have not made a valid election, and all
Shareholders with registered addresses in Prohibited Territories,
have been deemed to have elected for C Shares (the Income Option)
in respect of all of their Ordinary Shares.
Based on Shareholders' elections or deemed elections for the
Options set out above, 201,548,311 C Shares of 0.0001 pence each
and 104,977,184 B Shares of 95 pence each will be allotted and
issued today.
It is expected that each B Share will be redeemed by the Company
for 95 pence on 2 April 2015. Each such B Share will be cancelled
on redemption.
A single dividend of 95 pence will become payable on each C
Share on 2 April 2015. Once the C Share Dividend has been paid,
each C Share will be reclassified as a Deferred Share which will
carry extremely limited rights and will have negligible value. The
Company expects to purchase all of the Deferred Shares for an
aggregate consideration of one penny and then cancel the Deferred
Shares in April 2015. Shareholders will not be entitled to have any
part of the one penny aggregate consideration paid to them.
Cheques will be posted, BACS payments will be made or CREST
accounts credited, as appropriate, by 2 April 2015 in respect of
redemption proceeds and dividend payments.
No application has been made, or will be made for the B Shares
or the C Shares or the resulting Deferred Shares to be admitted to
listing on the Official List or to trading on the London Stock
Exchange's main market for listed securities, nor will the B
Shares, C Shares or the Deferred Shares be listed or admitted to
trading on any other recognised investment exchange. No share
certificates will be issued in respect of the B Shares or the C
Shares or the Deferred Shares.
Capitalised terms in this announcement shall have the same
meanings ascribed to them in the Circular published by the Company
on 24 February 2015 in relation to the proposed Return of Cash. The
Circular is available on the Company's website at:-
http://corporate.persimmonhomes.com/investors/shareholder-information/meeting-information
The release, publication or distribution of this announcement in
certain jurisdictions may be restricted by law and therefore
persons in such jurisdictions into which this announcement is
released, published or distributed should inform themselves about
and observe such restrictions.
This announcement does not constitute, or form part of, an offer
to sell or the solicitation of an offer to subscribe for any
securities, nor the solicitation of any vote or approval in any
jurisdiction, nor shall there be any sale, issue or transfer of the
securities referred to in this announcement in any jurisdiction in
contravention of applicable law.
G N Francis
Group Company Secretary
This information is provided by RNS
The company news service from the London Stock Exchange
END
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