CAMK Camkids

TIDMCAMK

RNS Number : 1108V

Camkids Group PLC

24 October 2014

 
 Press Release   24 October 2014 
 

Camkids Group plc

("Camkids" or the "Company")

Notice of Extraordinary General Meeting

and Scrip Dividend Scheme

Camkids Group plc (AIM: CAMK), a leading Chinese designer, manufacturer and distributor of branded outdoor clothing, footwear and equipment for children and teenagers, will today post to shareholders a circular containing a notice of an extraordinary general meeting of the Company ("EGM"), to be held at 09.30 a.m. (UK time) on Tuesday 11 November 2014 at the offices of Allenby Capital Limited, 3 St. Helen's Place, London, EC3A 6AB. The purpose of the meeting is to seek shareholder approval for, inter alia, the payment of an interim dividend, details of which were announced by the Company in the Interim Results on 29 September 2014.

As previously announced, the Board intends to pay an interim dividend for the interim financial period ended 30 June 2014 which the Directors have decided to offer either in cash or as a scrip dividend. Shareholders may therefore elect to receive the interim dividend by way of a scrip dividend at 2.4 pence per ordinary share of no par value each ("Ordinary Share") in the capital of the Company ("Interim Scrip Dividend"). Alternatively, shareholders may decide to receive the interim dividend in cash at 2.0 pence per Ordinary Share.

The benefit to shareholders in electing for the Interim Scrip Dividend and receiving their interim dividend in the form of new Ordinary Shares instead of cash is that they can increase their shareholding in the Company without paying dealing costs or stamp duty. The scheme is also a benefit to the Company since the cash that would otherwise be paid out in dividends is retained within the business. Shareholders should bear in mind that the price of the Company's Ordinary Shares fluctuates and can therefore go down, as well as up, and the decision to elect to participate in the Interim Scrip Dividend is for each shareholder to take individually based upon his/her own circumstances.

The Company announces that the timetable for the payment of the proposed interim dividend to shareholders, as described more fully in the documents being sent to shareholders, is set out in the table below:

 
 24 October 2014    Posting of scrip dividend offer 
 20 November 2014   Ordinary Shares quoted ex dividend 
 21 November 2014   Record date for interim dividend 
 05 December 2014   Final date for receipt of Scrip 
                     Dividend Mandate / CREST Dividend 
                     Election Input Message 
 18 December 2014   Posting of cheques and tax 
                     vouchers (as appropriate) (with 
                     anticipated receipt date of 
                     19 December 2014) 
 19 December 2014   Dividend payment date / allotment 
                     of new Ordinary Shares / first 
                     day of dealing in the new Ordinary 
                     Shares 
 19 December 2014   Posting share certificates 
 

Copies of the circular will be available on the Company's website (www.camkids-ir.com).

- Ends -

For further information:

 
 Camkids Group plc 
 Zhang Congming, Executive      Tel: +44 (0) 20 
  Chairman                            7398 7714 
 Ng Pei Eng, Chief Finance   www.camkids-ir.com 
  Officer 
 
 
 Allenby Capital Limited 
 Alex Price / James Reeve            Tel: +44 (0) 20 
  / Nick Athanas                           3328 5656 
 a.price@allenbycapital.com   www.allenbycapital.com 
 

Media enquiries:

 
 Abchurch Communications 
  Limited 
 Henry Harrison-Topham          Tel: +44 (0) 20 7398 
  / Canace Wong                                 7714 
 camkids@abchurch-group.com   www.abchurch-group.com 
 

Notes to editors

Camkids is a leading Chinese designer, manufacturer and distributor of branded outdoor clothing, footwear and equipment for children and teenagers.

Based in Fujian province in China, the Group focuses on children's sportswear for outdoor activities, combining functionality and innovation. The products are mid-range price based, targeting mid and high range markets within China.

The three main product areas are:

-- Camkids outdoor clothing - all weather jackets, waterproof trousers, shirts, tops and T-shirts, woollen sweaters, jeans, trousers shorts and skirts;

-- Camkids footwear - hiking boots, outdoor leisure footwear, flip-flops, sandals and boots

-- Camkids equipment and accessories - telescopes, backpacks, technical packs, tents, sleeping bags, headgear, caps, kettles, headlights and torches.

The Group designs its entire product range and manufactures the majority of its footwear. Outdoor apparel and accessories are currently manufactured by third party OEMs.

Camkids' primary route to market for the sale of its products is through its network of distributors. The Group has established an extensive distribution network across 29 provinces, 4 municipalities and 5 autonomous regions within the PRC and is successfully expanding its presence in tier 3 and tier 4 cities. The Group has 17 authorised distributors operating over 1,336 franchised retail outlets, and continues to develop its e-commerce business and currently has over 200 product lines on offer through its existing online partners of Taobao and JD.com.

Camkids has received a number of prestigious awards. In September 2014 it was announced that Camkids had been included in the rankings as one of "The Top 500 Asia Brands". In addition to this prestigious award, the Group's Chairman has also been honoured as one of the "Top ten new brand creators in Chinese industry".

For more information please visit www.camkids-ir.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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