Elektron PLC
08 August 2005
FOR IMMEDIATE RELEASE 8 August 2005
ELEKTRON PLC
('Elektron' or the 'Company')
Proposed consolidation and sub-division of the Company's ordinary shares of 5p
each
On 23 June 2005 the Company announced proposals to consolidate and then
sub-divide the Company's share capital which were approved at the Company's
Annual General Meeting on Thursday 28 July 2005. The Company announces that the
proposals were completed today.
Pursuant to the share consolidation, at the close of business on 5 August 2005
the Company purchased the fractional entitlements in respect of 526.579
Consolidated Shares for a total cash consideration of £147,442. The Company
expects that holders of the fractional entitlements to Consolidated Shares will
receive their proportional payment for their fractional share entitlement by
cheque by 19 August 2005. The Consolidated Shares purchased by the Company have
been cancelled.
In order to avoid the share consolidation having a detrimental effect on the
market price of the Company's shares, and to avoid any confusion that might
otherwise arise from the share consolidation, immediately following the
consolidation and the sale and purchase of the fractional Consolidated Shares by
the Company, each Consolidated Share was subdivided into 2,000 new ordinary
shares of 5p each ('New Ordinary Shares').
The 79,373,102 New Ordinary Shares created by the consolidation and sub-division
of the Company's ordinary shares have the same rights as the ordinary shares
including rights relating to dividends and voting. The New Ordinary Shares have
been admitted to trading to AIM today.
Expected Timetable of Events
CREST accounts credited with New Ordinary Shares 8 August 2005
Payment (where applicable) of fractional entitlements, by 19 August 2005
Despatch of certificates for New Ordinary Shares
ENDS
For further information please contact:
Adrian Girling Christopher Leigh
Executive Chairman Finance Director
Elektron Plc Elektron Plc
Tel: 0208 477 9300 Tel: 0208 477 9300
Michael Cornish
Beaumont Cornish Limited
Tel: 0207 628 3396
This information is provided by RNS
The company news service from the London Stock Exchange