Re. B Shares and Dividend
Helical Bar PLC
01 July 2005
1 July 2005
HELICAL BAR PLC
Announcement of dividend and purchase of outstanding B Shares
HELICAL BAR PLC ('Helical Bar' or 'the Company')
Helical Bar plc ('Helical' or the 'Company') announces that it has appointed
JPMorgan Cazenove Limited ('JPMorgan Cazenove') to offer to purchase (the
'Offer') all of the 612,704 B non-cumulative preference shares of 1 7/8 pence
each in the capital of the Company ('B Shares') remaining following the
Company's return of cash in 2004, at a price of 403.47 pence each (subject to
appropriate rounding and free from all dealing expenses and commissions) (the
'Offer Price').
The Offer Price is calculated by reference to the sum of 400 pence per B Share,
being the amount payable to holders of B Shares who accepted the offers
previously made as part of the return of cash, plus an amount of 3.22 pence per
B Share which is referable to accrued dividend since 1 May 2005. In addition to
the Offer Price, holders of B Shares will also receive a dividend of 5.22 pence
per B Share (subject to appropriate rounding) being the dividend for the period
to 30 April 2005.
It is anticipated that the Offer will be made on 25 July 2005 to a record date
of 19 July 2005, with settlement on 26 July 2005. The Offer is conditional upon
the requisite resolutions being passed at the Company's Annual General Meeting
on 20 July 2005. The Offer will not be made if the requisite resolutions are
not passed at the Annual General Meeting.
In accordance with the Company's articles of association, the Company is
empowered to appoint an officer of the Company to accept the Offer and to
execute transfers on behalf of holders of B Shares. Consequently, upon the
Offer having been made, the holders of B Shares need take no action in order to
complete the transfer of the B Shares to JPMorgan Cazenove.
The Company will be applying for the listing on the Official List and the
admission to trading on the London Stock Exchange for the B Shares to be
cancelled as soon as possible after the Offer is completed.
It is expected that JP Morgan Cazenove will exercise their right to require
Helical Bar to purchase from it all of the B Shares purchased pursuant to the
Offer, following which the B Shares will be cancelled.
Enquiries:
Helical Bar 020 7629 0113
Nigel McNair Scott
JPMorgan Cazenove 020 7588 2828
Richard Cotton
Roger Clarke
This information is provided by RNS
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