ConvaTec Group PLC Scrip Dividend (2766Q)
September 11 2017 - 1:01AM
UK Regulatory
TIDMCTEC
RNS Number : 2766Q
ConvaTec Group PLC
11 September 2017
Scrip Dividend
Reading, United Kingdom (11 September 2017)
On 3 August 2017 ConvaTec Group Plc ("ConvaTec" or "the
Company") declared an interim dividend of 1.4 cents per share (the
"interim dividend"). The Board of ConvaTec has decided to offer
shareholders the opportunity to participate in the Company's Scrip
Dividend Scheme ("Scheme") in respect of this interim dividend,
such that shareholders may elect to receive new ordinary shares in
the Company instead of cash ("scrip dividend"). A cash dividend
will be paid to shareholders unless they elect to receive the scrip
dividend. The interim dividend will be converted to Sterling at the
chosen exchange rate of $1.32/GBP1.00 determined on 2 August 2017.
The sterling conversion of the interim dividend at the chosen
exchange rate is 1.06 pence per share.
In relation to the Scheme, the following documents have today
been distributed to shareholders:
-- Letter from the Chairman regarding the Scrip Dividend Scheme ("Explanatory Letter")
-- Scrip Dividend Scheme Information Booklet ("Scheme Rules");
-- Scrip Dividend Scheme mandate form ("Mandate Form").
The Scheme Rules have been uploaded to the National Storage
Mechanism in the UK and will be shortly available for inspection at
www.morningstar.co.uk/UK/NSM. The Explanatory Letter and Scheme
Rules will also be available on the Company's website,
www.convatecgroup.com/investors. The Scheme will apply to all
dividends on which a scrip dividend alternative is offered and
enables shareholders to increase their holding in the Company
without incurring dealing costs or stamp duty.
Certificated shareholders electing to receive the scrip dividend
should complete the Mandate Form, or if registered for electronic
elections they may choose to participate electronically through the
Company's Registrar's investor website at www.investorcentre.co.uk.
Shareholders who hold their shares in uncertificated form through
CREST can only elect to participate in the scrip dividend by means
of the CREST procedures as detailed in the Scheme Rules.
Should a shareholder elect to receive the scrip dividend, they
will become entitled to a number of new ConvaTec ordinary shares
("new shares"), determined by multiplying the number of ordinary
shares held by the relevant shareholder at the record date for
receipt of the interim dividend by the dividend per ordinary share
(converted to Sterling at the specified conversion rate) and
dividing it by the scrip calculation price. The scrip calculation
price will be announced on 14 September 2017 and will be the
average of the middle market quotations of a ConvaTec share,
derived from the London Stock Exchange Daily Official List, for the
five consecutive business days from 7 September to 13 September
2017 (inclusive). As no fraction of a new share can be issued, the
cash value of any fractional entitlement will be retained by the
Company and carried forward, without interest, and included in the
scrip dividend calculation for the relevant shareholder with
respect to the next relevant dividend. Information regarding the
potential UK and US tax consequences of electing to participate in
the scrip dividend are included in the Scheme Rules. The receipt of
the cash dividend or election to receive the scrip dividend may
have tax implications for shareholders who are resident in the
United Kingdom or other countries and as such shareholders are
advised to obtain appropriate advice from their professional
advisers in this regard.
As at the date of this announcement, the Company had in issue
1,951,472,651 ordinary shares of 10 pence each.
TIMETABLE
Key dates in respect of the Scrip Dividend Scheme for the
interim dividend are:
Ex-dividend Date 7 September 2017
Record Date 8 September 2017
Scrip calculation price determined 7-13 September
2017 (inclusive)
Scrip calculation price available 14 September 2017
and announced
Mandate delivery deadline for Shares 3.00 p.m. on 29
held in uncertificated form September 2017
Mandate delivery deadline for Shares 5.00 p.m. on 29
held in certificated form September 2017
Announcement of the total amount 5 October 2017
of new shares to be issued
Dividend payment date 20 October 2017
Dispatch of statement in accordance 20 October 2017
with section 7 of Scheme Rules and
share certificates, CREST accounts
credited/updated, and first day
of dealings in New Shares
Enquiries
Media
Bobby Leach, VP Group Corporate Affairs, ConvaTec +44 (0)7770 842 226
Alastair Elwen, Finsbury +44 (0)207 251 3801
Analysts and Investors
John Crosse, VP Investor Relations, ConvaTec +44 (0)7500 141 435
Kirsty Law, Director Investor Relations, ConvaTec +44 (0)7470 909 582
investorrelations@convatec.com
About ConvaTec
ConvaTec is a global medical products and technologies company
focused on therapies for the management of chronic conditions, with
leading market positions in advanced wound care, ostomy care,
continence and critical care, and infusion devices. ConvaTec's
products provide a range of clinical and economic benefits
including infection prevention, protection of at-risk skin,
improved patient outcomes and reduced total cost of care. To learn
more about ConvaTec, please visit www.convatecgroup.com where a
copy of this announcement can also be found.
# # #
This information is provided by RNS
The company news service from the London Stock Exchange
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