Issue of B Shares

RNS Number : 3880H

McBride PLC

26 May 2011

 



RNS Announcement

McBride plc

Issue of B Shares

26 May 2011

Issue of B Shares as Part of the B Share Scheme

Further to the shareholder circular issued by McBride plc (the Company) on 24 February 2011 and the passing of a special resolution at a general meeting of the Company held on 24 March 2011, the Company announces that on 26 May 2011 3,620,806,020 non-cumulative redeemable preferences shares of 0.1 pence each (known as B Shares) were issued by the Company.  There are 3,620,806,020 B Shares being issued of which 3,471,530,095 B Shares are being redeemed immediately and cancelled in accordance with the elections made by the Company's ordinary shareholders, 149,275,925 B Shares are being retained by the Company's ordinary shareholders who did not elect to redeem their B Shares and 12,903,920 are being held by the Company in treasury.

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:

-    747,595 ordinary shares of 10p each in treasury and has a total of 180,292,706 ordinary shares (excluding ordinary shares held in treasury) in issue; and

-    12,903,920 B Shares in treasury and has a total of 149,275,925 B Shares (excluding B Shares held in treasury) in issue.

The total number of voting rights in the Company is 180,292,706.  This figure (180,292,706) 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.

 

END

 

 

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