Return of Cash Update

RNS Number : 2869M

Compass Group PLC

15 July 2014

 



COMPASS GROUP PLC

PAYMENT OF C SHARE DIVIDEND AND THE REDEMPTION OF B SHARES ISSUED PURSUANT TO THE CAPITAL OPTION RELATING TO THE RETURN OF c. £1 BILLION TO SHAREHOLDERS

Compass Group PLC ("Compass" or the "Company") today announces the payment of the C Share Dividend and the redemption of B Shares issued pursuant to the Capital Option relating to its Return of Cash of approximately £1 billion to Shareholders.

C Share Dividend (Income Option)

In accordance with the provisions of the Articles of Association adopted and approved by Shareholders on 11 June 2014, the C Share Dividend of 56 pence on each C Share issued pursuant to the Income Option (being 1,366,745,487 C Shares) has now become payable. It is expected that Shareholders entitled to receive the C Share Dividend will be sent cheques or, if mandate instructions are held in respect of a sterling bank account, that payments will be made by BACS to mandated bank accounts in respect of the C Share Dividend on 29 July 2014.

In accordance with the Company's Articles of Association and as set out in the circular published by the Company on 19 May 2014 in relation to the Return of Cash (the "Circular"), the relevant C Shares on which the C Share Dividend has become payable are automatically reclassified as Deferred Shares (having negligible value and carrying extremely limited rights) and the Company hereby appoints Mr Mark White, General Counsel and Company Secretary or failing him, Mr Dominic Blakemore, Group Finance Director, to execute on behalf of all holders of such Deferred Shares a transfer of all such Deferred Shares to Barclays Bank PLC (or its nominee) for an aggregate consideration of one penny, and subsequently a transfer of such Deferred Shares to the Company for an aggregate consideration of one penny. As set out in the Circular, in view of the negligible amount of the aggregate consideration for the Deferred Shares, Shareholders will not be entitled to have any part of the aggregate consideration paid to them.

Redemption of B Shares (Capital Option)

It has been resolved that all B Shares issued pursuant to the Capital Option (being 419,413,879 B Shares) be redeemed for 56 pence per B Share with immediate effect.

It is expected that Shareholders entitled to receive payments in respect of the proceeds of the redemption of the B Shares issued pursuant to the Capital Option will be sent cheques or, if Shareholders held their Existing Ordinary Shares in CREST, will have their CREST accounts credited on or around 29 July 2014.

All B Shares issued pursuant to the Capital Option and redeemed will be cancelled.

Terms used in this announcement but which are not otherwise defined shall have the same meanings as set out in the Circular.

Enquiries:

Clare Hunt - Compass Group PLC                  Tel. [phone]

Capita Asset Services Shareholder Helpline

Shareholder Helpline

If you have any questions about the Return of Cash please call the Shareholder Helpline on 0800 121 7641 (or [phone] if calling from outside of the United Kingdom) between 9.00 a.m. and 5.30 p.m. Monday to Friday (except UK public holidays). Calls to the Shareholder Helpline are free of charge from a BT landline. Costs for calls from mobile telephones and other network providers may vary. Calls to the Shareholder Helpline from outside the United Kingdom will be charged at the applicable international rates. Please note that calls may be recorded and randomly monitored for security and training purposes. For legal reasons, the Shareholder Helpline will be unable to give advice on the merits of the Return of Cash or to provide financial, tax or investment advice.

Notes to Editors:

Compass Group PLC is a world-leading food and support services company, which generated annual revenues of £17.6 billion in the year to 30 September 2013.  It operates in around 50 countries, employs over 500,000 people and serves over 4 billion meals every year.  The Company specialises in providing food and a range of support services across the core sectors of Business & Industry, Healthcare & Seniors, Education, Defence, Offshore & Remote, Sports & Leisure and Vending with an established brand portfolio.

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