Croda International PLC Annual Financial Report (2153T)
March 18 2019 - 12:26PM
UK Regulatory
TIDMCRDA
RNS Number : 2153T
Croda International PLC
18 March 2019
Croda International Plc - Annual Financial Report, Notice of
Annual General Meeting and details of Special Dividend and Share
Consolidation
On 26 February 2019, the Board of Croda International Plc (the
"Company") released the Company's preliminary announcement of
annual results for the year ended 31 December 2018 and announced
its intention to return approximately GBP150 million to
shareholders via a special dividend with a share consolidation (the
"Announcement"). Further to the Announcement, the Company confirms
that the following documents have been published and are being
mailed to shareholders today:
- Annual Report and Accounts for the year ended 31 December
2018
- Notice of Annual General Meeting (the "Notice")
- Sustainability Report
Shareholders who have elected not to receive hard copy documents
will receive a letter from the Company advising that the above
listed documents are now available.
The Annual General Meeting of the Company will be held at 12
noon on 24 April 2019 at the Pavilions of Harrogate, Great
Yorkshire Showground, Harrogate, North Yorkshire, HG2 8QZ.
Special Dividend
The amount of the special dividend is 115 pence per ordinary
share of 10.357143 pence each ("Existing Ordinary Share"). If
shareholders approve the special dividend, it will be paid on 30
May 2019 to all ordinary shareholders who are on the Register of
Members at close of business on 26 April 2019.
Share Consolidation
It is proposed that the payment of the special dividend be
accompanied by a consolidation of Existing Ordinary Shares on the
basis of 41 new ordinary shares of 10.609756 pence each ("New
Ordinary Shares") for every 42 Existing Ordinary Shares. A
resolution to effect the special dividend and share consolidation
will be proposed at the Annual General Meeting, details of which
are set out in the Notice.
As at the close of business on 6 March 2019 (being the last
practicable date prior to the publication of the Notice), the total
amount of the special dividend was equivalent to 2.37 per cent. of
the market capitalisation of the Company. The proposed share
consolidation is intended to maintain comparability, as far as
possible, of the Company's share price before and after the special
dividend by reducing the number of Existing Ordinary Shares in
issue by approximately the same percentage.
As all Existing Ordinary Shares in the Company will be
consolidated, each shareholder's percentage holding in the total
ordinary issued share capital of the Company immediately before and
after the implementation of the share consolidation will (subject
to any fractional entitlements or DRIP elections) remain unchanged.
Fractional entitlements to New Ordinary Shares arising from the
share consolidation will be aggregated and sold in the market on
behalf of the relevant shareholders, the proceeds of which are
expected to be sent by 17 May 2019.
Expected timetable for the special dividend and share
consolidation
If any of the below times and / or dates change, the revised
times and / or dates will be notified to shareholders by
announcement through a Regulatory Information Service. Unless
otherwise stated, all references to times given below are to London
time.
Ex-dividend date for final dividend Thursday 11 April 2019
Record date for final dividend Close of business on
Friday 12 April 2019
---------------------------
Latest time and date for receipt of proxy 12 noon on Thursday 18
votes from shareholders April 2019
---------------------------
Annual general meeting 12 noon on Wednesday
24 April 2019
---------------------------
Record date for special dividend and Close of business on
share consolidation Friday 26 April 2019
---------------------------
Last day for dealing in Existing Ordinary Friday 26 April 2019
Shares
---------------------------
Ex-dividend date for special dividend Monday 29 April 2019
---------------------------
Commencement of dealings in New Ordinary 8.00am on Monday 29 April
Shares 2019
---------------------------
CREST accounts credited with new ordinary As soon as possible after
shares 8.00am on Monday 29 April
2019
---------------------------
Latest time and date for election to 5.00pm on Tuesday 30
participate in DRIP for final dividend April 2019
---------------------------
Latest time and date for election to 5.00pm on Monday 13 May
participate in DRIP for special dividend 2019
---------------------------
Despatch of cheques for fractional entitlements By Friday 17 May 2019
for New Ordinary Shares; despatch of
certificates of New Ordinary Shares;
CREST accounts credited with value of
fractional entitlements (in each case
where applicable)
---------------------------
Payment date for final dividend and special Thursday 30 May 2019
dividend
---------------------------
Purchase of New Ordinary Shares for DRIP Thursday 30 May 2019
participants with respect to final and
special dividend will commence on
---------------------------
Despatch of share certificates and crediting On or after 3 June 2019
of CREST accounts in relation to DRIP
purchases
---------------------------
Other information
In compliance with DTR 6.3.5(3) the Annual Report and Accounts
for the year ended 31 December 2018 and the Notice of Annual
General Meeting are available on the Company's website at
www.croda.com.
In accordance with Listing Rule 9.6.1 a copy of each of these
documents has been submitted to the National Storage Mechanism and
will shortly be available for inspection at
http://www.morningstar.co.uk/uk/NSM.
Further information
For further information, please contact:
Tom Brophy
Group General Counsel & Company Secretary
+44 (0)1405 860551
18 March 2019
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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