LONDON--WPP PLC (WPP.LN) said Tuesday that is planning to move
its headquarters to the U.K. as the coalition's new tax regime
means it no longer has the same concerns over tax it had in 2008,
adding that revenue growth in October appears to have been better
than in September.
MAIN FACTS:
-A return to the U.K. should not have a tax cost for the WPP
Group, at least for the remainder of this Government.
-It is proposed to put in place a new parent company for the WPP
Group
-WPP continues to be engaged in discussions with share owners
regarding compensation matters, both in relation to Sir Martin
Sorrell and executive remuneration policy generally.
-It is expected that New WPP will continue to follow WPP's
current dividend pay-out policy, whilst also continuing to examine
the relative merits of dividends, capital expenditure, acquisitions
and share re-purchases.
-Flash revenue numbers received for October indicate
like-for-like revenue growth at a similar level to the third
quarter and better than September.
-Shares closed Tuesday at 813 pence valuing the company at
GBP10.27 billion.
-Write to Rory Gallivan at rory.gallivan@dowjones.com; Twitter:
@RoryGallivan
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