CLS Holdings plc
("CLS", the "Company", the "Group")
announces introduction of dividend
and proposed share sub-division
CLS 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.
In 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.
Fredrik Widlund, Chief Executive of CLS, commented:
"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."
This announcement contains inside information.
-ends-
For further information, please contact:
|
CLS Holdings plc Fredrik Widlund, Chief Executive Officer John Whiteley, Chief Financial Officer |
+44 (0)20 7582 7766 |
|
Liberum Capital Limited Richard Crawley Jamie Richards |
+44 (0)20 3100 2222 |
|
Panmure Gordon (UK) Limited Dominic Morley Andrew Potts |
+44 (0)20 7886 2500 |
|
Elm Square Advisers Limited Jonathan Gray |
+44 (0)20 7823 3695 |
|
Smithfield Consultants (Financial PR) Alex Simmons |
+44 (0)20 7360 4900 |
This information is provided by RNS