Issue of B Shares

RNS Number : 8344S

McBride PLC

25 November 2011

 



RNS Announcement

McBride plc

Issue of B Shares

25 November 2011

Issue of B Shares as Part of the B Share Scheme

Further to the shareholder circular issued by McBride plc (the Company) on 14 September 2011 and the passing of an ordinary resolution at the annual general meeting of the Company held on 24 October 2011, the Company announces that on 25 November 2011 8,689,934,448 non-cumulative redeemable preferences shares of 0.1 pence each (known as B Shares) were issued by the Company; of the 8,689,934,448 B Shares issued 8,343,509,410 B Shares are being redeemed immediately and cancelled in accordance with the elections made by the Company's ordinary shareholders (including 68,507,760 B Shares issued to the Company as treasury shares) and 346,425,038 B Shares are being retained by the Company's ordinary shareholders who did not elect to redeem their B Shares.  The Company has also redeemed 12,903,920 B Shares that were issued to the Company as treasury shares on 26 May 2011.

The B Shares do not carry voting rights, except at any general meeting at which a resolution to wind up the Company is to be considered in which case the holders of B Shares shall have the right to attend the general meeting and shall be entitled to speak and vote only on such resolution.  No application will be made to the UK Listing Authority or to the London Stock Exchange for any of the B Shares to be admitted to the Official List or to trading on the London Stock Exchange main market for listed securities, nor will the B Shares be admitted to trading on any other recognised investment exchange.

Following this issue the Company holds 1,757,245 ordinary shares of 10p each in treasury and has a total of 179,283,056 ordinary shares (excluding ordinary shares held in treasury) in issue.  The Company does not hold any B Shares in treasury.

The total number of voting rights in the Company is 179,283,056.  This figure (179,283,056) can be used by shareholders as a denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA Disclosure and Transparency Rules.

 

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