Business
Shareholder Return and Notice of General Meeting
Shareholder Return and Notice of General Meeting.
About this update from Compass Group Plc
[{"type":"text","content":"\n \nRNS Number : 1380F Compass Group PLC 15 May 2017 \n \n\n \n \n \nLEI: 2138008M6MH9OZ6U2T68\n \nCOMPASS GROUP PLC\n \nPROPOSED SPECIAL DVIDEND OF £1 BILLION AND\nSHARE CAPITAL CONSOLIDATION\n \n· Special dividend of 61 pence per existing ordinary share of 10 5/8 pence each in the capital of Compass Group PLC (\"Existing Ordinary Share\") (the \"Shareholder Return\") \n \n· Consolidation of every 26 Existing Ordinary Shares into 25 new ordinary shares of 11 1/20 pence each (\"New Ordinary Shares\") (the \"Share Capital Consolidation\")\nFurther to the announcement made on 10 May 2017 (the \"Announcement\"), Compass Group PLC (\"Compass\" or the \"Company\") is today posting a circular (the \"Circular\") regarding the proposed Shareholder Return and Share Capital Consolidation to Compass shareholders (\"Shareholders\"), including notice of a general meeting to be held at 10.30 a.m. on Wednesday 7 June 2017 (the \"General Meeting\"). \nThe Company intends to return 61 pence per Existing Ordinary Share to Shareholders on the register of members as at 6.00 p.m. on 26 June 2017 (the \"Record Time\"), which amounts to approximately £1 billion in aggregate. The Shareholder Return is being structured as a special dividend with a share consolidation. \n Key highlights of the proposed Shareholder Return \n· All Shareholders at the Record Time will be entitled to receive 61 pence per Existing Ordinary Share by way of a special dividend;\n\n\n· The Shareholder Return and Share Capital Consolidation are conditional upon Shareholder approval which will be sought at the General Meeting and upon Admission of the New Ordinary Shares to the Official List of the United Kingdom Listing Authority and to trading on the London Stock Exchange plc's main market for listed securities; and\n· It is expected that payment of the special dividend will be made on Monday 17 July 2017.\n\nShare Capital Consolidation\nAlongside the Shareholder Return, the Company proposes a consolida...