Business
Return of Capital
Return of Capital.
About this update from Computacenter Plc
[{"type":"text","content":"\n Computacenter PLC\n05 June 2006\n\n\nPROPOSED RETURN OF CAPITAL AND NOTICE OF EXTRAORDINARY GENERAL MEETING\n\nIn the announcement at our AGM meeting on 5 May 2006 we stated that we were\nproceeding with our plans to return £75 million to shareholders. Today we are\nposting a Circular to shareholders with further details of the proposed return\nof capital and convening an Extraordinary General Meeting, to be held at 10.00am\non 28 June 2006, to obtain all necessary shareholder approvals for its\nimplementation.\n\nThe return of capital is being made using a B share structure, which has been\ndesigned to ensure equal participation by all shareholders, with each\nshareholder on the register of members as at 30 June 2006 receiving one B share\nfor each existing ordinary share. The B shares will each have a nominal value of\n39 pence and the total nominal value of the B shares issued will be\napproximately £74.4 million. The B shares will not be listed and will be\nredeemed at their nominal value of 39 pence per share on 4 July 2006.\n\nIn connection with the return of capital, the Board is also proposing a share\ncapital consolidation such that shareholders will receive 5 new ordinary shares\nfor every 6 existing ordinary shares. The intention is that, subject to normal\nmarket movements, the share price of one new ordinary share immediately after\nthe share capital consolidation should be approximately equal to the share price\nof one existing ordinary share immediately beforehand. The total number of\nshares in issue will be reduced as a result of the share capital consolidation,\nreflecting the return of 39 pence per share. Subject to the approval of\nshareholders, the Financial Services Authority and the London Stock Exchange,\nthe Board expects trading in the new ordinary shares to commence on the London\nStock Exchange on 3 July 2006.\n\nComputacenter plc has forwarded copies of the Circular to the Financial Services\nAuthority pursuant to Listing Rule 9.6.1 and copies will shortly be available to\nthe public for inspection at the UK Listing Authority's Document Viewing\nFacility, which is situated at: Financial Services Authority, 25 The North\nColonnade, Canary Wharf, London, E14 5HS (Telephone: + 44 20 7066 1000).\n\nFor further information please contact:\n\nComputacenter plc:\nMike Norris, Chief Executive 01707 631 ...