Topps Tiles PLC
16 February 2007
Topps Tiles plc
Cancellation of Deferred Shares
Topps Tiles plc today announced that, in accordance with rights set out in its
Articles, all outstanding C Shares created as part of its Return of Cash (being
subject to the Compulsory Purchase Procedure) will be repurchased on 28 February
2007 following which they will be cancelled. Information relating to the Return
of Cash, the Compulsory Purchase Procedure and its potential tax consequences,
was detailed in the circular to shareholders dated 7 July 2006 (the 'Circular').
Holders of C Shares repurchased under the Compulsory Purchase Procedure will
receive 54 pence per C Share plus the amount of the C Share Continuing Dividend
accrued up to the date of repurchase of approximately 1.1 pence per C Share.
Shareholders should expect to receive cheques for or payment of the sums due to
them on completion of the Compulsory Purchase Procedure on or about 12th March
2007.
Definitions used in the Circular apply to this announcement.
Enquiries:-
Barry Bester - Chairman 0161 468 2400
Andrew Liggett - Finance Director 0161 468 2400
Ann-Marie Wilkinson/ Antonia Coad
Bell Pottinger Corporate & Financial 020 7861 3232
Megan MacIntyre
KBC Peel Hunt Ltd 020 7418 8900
This information is provided by RNS
The company news service from the London Stock Exchange