Melrose Industries PLC Posting of Circular and Notice of General Meeting (7487C)
June 22 2021 - 9:31AM
UK Regulatory
TIDMMRO
RNS Number : 7487C
Melrose Industries PLC
22 June 2021
22 June 2021
MELROSE INDUSTRIES PLC
Posting of Circular and Notice of General Meeting Related to the
Return of Capital of 15 pence per Existing Ordinary Share by way of
a B2 Share Scheme, a related 9 for 10 Share Consolidation and
Capital Reduction
Melrose Industries PLC (the "Company") announces that, pursuant
to Listing Rule 9.6.3, a circular together with a notice of General
Meeting (the "Circular") in relation to Melrose's proposed return
of approximately GBP730 million in cash to Shareholders, equivalent
to 15 pence per Existing Ordinary Share (the "Proposed Return of
Capital"), have been posted to Shareholders today.
The General Meeting to approve the Proposed Return of Capital
will be held at 10.00 a.m. on Friday 9 July 2021 at Leconfield
House, Curzon Street, London W1J 5JA.
PLEASE NOTE THIS IS A CLOSED MEETING DUE TO COVID-19, WITH ONLY
DIRECTOR SHAREHOLDERS NECESSARY FOR A QUORUM IN PHYSICAL
ATTENDANCE. OTHER SHAREHOLDERS ARE NOT PERMITTED TO ATTEND THE
MEETING IN PERSON DUE TO CURRENT GOVERNMENT RESTRICTIONS. WE
STRONGLY ENCOURAGE ALL SHAREHOLDERS TO MAKE USE OF PROXIES TO
EXERCISE THEIR VOTING RIGHTS AND TO SUBMIT ANY QUESTIONS PRIOR TO
THE MEETING USING THE ONLINE SERVICE THAT THE COMPANY HAS SET UP
FOR THESE PURPOSES.
Earlier today, the Company announced the completion of its
GBP2.62 billion ($3.625 billion) disposal of its Nortek Air
Management Division to Madison Industries LLC, together with the
Proposed Return of Capital. The Proposed Return of Capital will be
effected by way of (i) a court approved Reduction of Capital,
followed by (ii) a return of capital through the issue of a new
class of B2 Shares which the Company intends to redeem for cash in
order to return 15 pence per Existing Ordinary Share to
Shareholders; followed by (iii) a consolidation of the Company's
ordinary share capital in order to minimise any impact on the
market price of the Company's Shares whilst ensuring Shareholders
retain the same pro rata interest in the Company after completion
of the Proposed Return of Capital.
The Company confirms that, in compliance with Listing Rule
9.6.1, an electronic copy of the Circular is available for download
on Melrose's website and has been submitted to the National Storage
Mechanism, appointed by the Financial Conduct Authority, and will
be available shortly for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism .
Unless otherwise defined in this announcement, defined terms
used have the meaning given to them in the Circular.
Enquiries:
Investor Relations: +44 (0) 7974 974690
ir@melroseplc.net
Montfort Communications - Financial +44 (0) 20 3514
PR: 0897
Nick Miles +44 (0) 7739 701634
+44 (0) 7921 881
Charlotte McMullen 800
miles@montfort.london / mcmullen@montfort.london
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END
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