Results of B/C Share Elections

RNS Number : 1538E

Persimmon PLC

07 May 2013

 

7 MAY 2013

Persimmon PLC (the 'Company')

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

Following the approval by Shareholders at the General Meeting of the Company held on 18 April 2013 of the proposed Return of Cash of 75p 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.

Results of elections

As at the Election Deadline of 11.00 am on 3 May 2013, Shareholders' elections or, as the case may be, 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)                       201,590,249

B Shares (Capital Option)                       102,245,506

TOTAL                                                  303,835,755

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, as the case may be, deemed elections for the Options set out above, 201,590,249 C Shares of 0.0001 pence each and 102,245,506 B Shares of 75 pence each were allotted and issued on 6 May 2013.

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

It is expected that each B Share will be redeemed by the Company for 75 pence on 28 June 2013 and that the proceeds of the redemption will be sent to Shareholders or CREST accounts will be credited, by 28 June 2013. Each such B Share will be cancelled on redemption.

A single dividend of 75 pence will become payable on each C Share on 28 June 2013. 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 the Deferred Shares for an aggregate consideration of one penny and then cancel the Deferred Shares in July 2013. Shareholders will not be entitled to have any part of the one penny aggregate consideration paid to them.

Capitalised terms in this announcement shall have the same meaning ascribed to them as in the Circular published by the Company on 18 March 2013 in relation to the proposed Return of Cash. The circular is available on the Company's website at www.corporate.persimmonhomes.com/investor/shareholder/gminfo/2013.aspx

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.

None of the B Shares, C Shares or Deferred Shares have been or will be registered under the US Securities Act or the state securities laws of the United States and none of them may be offered or sold in the United States unless pursuant to a transaction which has been registered under the US Securities Act and/or relevant state securities laws or which is not subject to the registration requirements of the US Securities Act or such laws, either because of an exemption therefrom or otherwise.

None of the U.S. Securities and Exchange Commission, any state securities commission in the United States, nor any other securities commission or regulatory authority has approved or disapproved of the securities described in this document or determined if this document is truthful, complete or accurate. Any representation to the contrary is a criminal offence in the United States.

G N Francis

Group Company Secretary

 

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