Announcement of Results of Return of Capital
Amlin Plc
Announcement of the results of the Return of Capital
As announced on 12 December 2007, Amlin plc ('Amlin') approved a return of
capital of approximately £120.4 million to shareholders by way of a B share
issue combined with a consolidation of Amlin's existing ordinary shares on the
basis of 8 new ordinary shares for 9 existing ordinary shares (the 'Return of
Capital'). The new ordinary shares were issued and commenced trading on 17
December 2007.
As part of the Return of Capital, shareholders were given the following choices:
-- to have their B shares redeemed for 22.4 pence each (the default
alternative in the absence of any election to the contrary); and/or
-- to take an initial dividend of 22.4 pence in respect of each of their B
shares; and/or
-- to retain their B shares for redemption in the future.
Amlin today announces that shareholders holding in aggregate:
-- 423,449,598 B shares (representing 78.79% of the total number of B
shares issued) have elected by default to have their B shares redeemed
and accordingly 423,449,598 B shares were redeemed on 14 January 2008;
-- 102,635,603 B shares (representing 19.10% of the total number of B
shares issued) have chosen to receive the initial dividend; and
-- 11,379,418 B shares (representing 2.11% of the total number of B shares
issued) have chosen to retain their B shares to be redeemed in the
future on 1 August 2008, 2 February 2009 and/or 3 August 2009 (or such
later dates as the directors may determine).
Payments in respect of the B shares redeemed on 14 January 2008 will be settled
through the CREST system on 17 January 2008 or, for certificated holders,
cheques are expected to be despatched on 17 January 2008. The initial dividend
declared as at 14 January 2008 will be settled either by cheque or directly to
shareholders' mandated accounts where applicable, also on the 17 January 2008.
The B shares on which the initial dividend was declared were converted on 14
January 2008 into deferred shares and will shortly be redeemed, as envisaged in
the circular to shareholders dated 16 November 2007
- ENDS -
Enquiries:
Charles Pender, Company Secretary, Amlin plc 020 7746 1000
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