Business
Introduction of Dividend
Introduction of Dividend.
About this update from Cls Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 2806W CLS Holdings PLC 08 February 2017 \n\n \n \n \n \nCLS Holdings plc\n(\"CLS\", the \"Company\", the \"Group\")\nannounces introduction of dividend \nand proposed share sub-division\n \nCLS Holdings plc announces that it intends to make future distributions to shareholders by way of a twice yearly dividend; this supersedes its previous policy of using tender offer buy-backs. It is intended that the first dividend will be a final dividend in respect of the year ended 31 December 2016 and announced with the Group's full year results which is expected to be on Wednesday 8 March 2017.\n \nIn addition, at its Annual General Meeting (\"AGM\") on 26 April 2017, the Board will recommend a share sub-division of its existing ordinary shares of 25p each into 10 new ordinary shares of 2.5 pence each. Further details of the share sub-division will be set out in the Notice of AGM to be circulated to shareholders on or around 22 March 2017. If approved, the share sub-division will take place following the payment of the final dividend.\n \nFredrik Widlund, Chief Executive of CLS, commented:\n \n\"We believe that these changes will make CLS more easily comparable with other listed property companies and a more attractive investment proposition for new shareholders, with the aim of improving liquidity in the Group's shares and broadening the shareholder base.\"\n \nThis announcement contains inside information.\n \n-ends-\n \nFor further information, please contact:\n \n\n\n\n\nCLS Holdings plc \nwww.clsholdings.com \nFredrik Widlund, Chief Executive Officer\nJohn Whiteley, Chief Financial Officer\n \n\n\n+44 (0)20 7582 7766\n\n\n\n\nLiberum Capital Limited\nRichard Crawley\nJamie Richards\n \n\n\n+44 (0)20 3100 2222\n\n\n\n\nPanmure Gordon (UK) Limited\nDominic Morley\nAndrew Potts\n ...