Result of Scrip Dividend Alternative

RNS Number : 7480U

Plastics Capital PLC

20 January 2017

 

Plastics Capital plc

(the "Company" or the "Group")

Result of Scrip Dividend Alternative

Further to the Company's announcements on 5 December and 29 December 2016, Plastics Capital (AIM: PLA), the niche plastics products group, announces that it has received final valid elections for the Scrip Dividend Alternative in respect of 9,135,603 existing ordinary shares of 1p each in the capital of the Company. This figure represents approximately 25.6 per cent. of the Company's issued ordinary share capital.

Accordingly, based on the previously announced reference price of 121.6p per share and the interim dividend of 1.46p per share, a total of 109,683 new ordinary shares of 1p each will be allotted by the Company ("New Shares") to shareholders who elected to receive the Scrip Dividend Alternative. It is expected that the New Shares will be issued and credited to CREST accounts on the payment date of 1 February 2017.

Application will be made to AIM for the New Shares to be admitted to trading on AIM on 1 February 2017 ("Admission"). Following Admission, the Company will have 35,750,706 ordinary shares in issue admitted to trading on AIM. Following Admission, this figure, 35,750,706 may be used by shareholders as the denominator for the calculations 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 FCA's Disclosure and Transparency Rules.

Plastics Capital plc	Tel: [phone]
Faisal Rahmatallah, Chairman
Nick Ball, Finance Director
Cenkos Securities	Tel: [phone]
(Nomad and joint broker) Mark Connelly Callum Davidson
Allenby Capital Limited	Tel: [phone]
(Joint broker) David Hart
Katrina Perez
Walbrook PR Ltd	Tel: [phone]/[e-mail]
Paul Cornelius	Mob: [phone]
Helen Cresswell	Mob: [phone]

Notes to Editors

Plastics Capital is a niche manufacturer of specialist plastic products.  Applications for these products vary widely and examples include:

·     Packaging for the food manufacturing and distribution - films, sacks and pouches

·     Steering columns and instrument control knobs in the automotive industry -  plastic ball bearings

·     Hydraulic and industrial rubber hose manufacture - various types of plastic mandrel

·     Cardboard box manufacture - plastic creasing matrices

Plastics Capital's business model is based on understanding customers' problems in depth, and then developing and mass producing proprietary, technical solutions for these problems.

The business operates through two divisions, Films and Industrial, and has the majority of its production in six UK based factories, with a further three factories in Asia.  Approximately 40% of its £55 million sales are made outside the UK to more than 80 countries.

 

END

 

 

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