Result of B/C Share Elections

RNS Number : 8873I
Persimmon PLC
30 March 2015
 



30 March 2015

Persimmon Plc (the 'Company')

 

RETURN OF CASH TO SHAREHOLDERS - RESULTS OF B/C SHARE ELECTIONS

 

Following the approval by Shareholders of the proposed Return of Cash of 95 pence per Ordinary Share by means of an issue of B Shares and/or C shares, the Company today provides the number of B and C share elections.

 

As at the Election Deadline of 11.00 am on 27 March 2015, Shareholders' elections or deemed elections for B and C Shares in respect of the Return of Cash were as follows:

 

Number of Ordinary Shares

C Shares (Income Option)                       201,548,311

B Shares (Capital Option)                       104,977,184

TOTAL                                                  306,525,495

 

Shareholders who have not made a valid election, and all Shareholders with registered addresses in Prohibited Territories, have been deemed to have elected for C Shares (the Income Option) in respect of all of their Ordinary Shares.

 

Based on Shareholders' elections or deemed elections for the Options set out above, 201,548,311 C Shares of 0.0001 pence each and 104,977,184 B Shares of 95 pence each will be allotted and issued today.

 

It is expected that each B Share will be redeemed by the Company for 95 pence on 2 April 2015. Each such B Share will be cancelled on redemption.

 

A single dividend of 95 pence will become payable on each C Share on 2 April 2015. Once the C Share Dividend has been paid, each C Share will be reclassified as a Deferred Share which will carry extremely limited rights and will have negligible value.  The Company expects to purchase all of the Deferred Shares for an aggregate consideration of one penny and then cancel the Deferred Shares in April 2015. Shareholders will not be entitled to have any part of the one penny aggregate consideration paid to them.

 

Cheques will be posted, BACS payments will be made or CREST accounts credited, as appropriate, by 2 April 2015 in respect of redemption proceeds and dividend payments.

 

No application has been made, or will be made for the B Shares or the C Shares or the resulting Deferred Shares to be admitted to listing on the Official List or to trading on the London Stock Exchange's main market for listed securities, nor will the B Shares, C Shares or the Deferred Shares be listed or admitted to trading on any other recognised investment exchange. No share certificates will be issued in respect of the B Shares or the C Shares or the Deferred Shares.

 

Capitalised terms in this announcement shall have the same meanings ascribed to them in the Circular published by the Company on 24 February 2015 in relation to the proposed Return of Cash. The Circular is available on the Company's website at:-

 

http://corporate.persimmonhomes.com/investors/shareholder-information/meeting-information

 

The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.

 

This announcement does not constitute, or form part of, an offer to sell or the solicitation of an offer to subscribe for any securities, nor the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issue or transfer of the securities referred to in this announcement in any jurisdiction in contravention of applicable law.

 

G N Francis

Group Company Secretary


This information is provided by RNS
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Persimmon (PSN)
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