Plastics Capital PLC Result of Scrip Dividend Alternative (1724I)
August 25 2016 - 8:51AM
UK Regulatory
TIDMPLA
RNS Number : 1724I
Plastics Capital PLC
25 August 2016
Plastics Capital plc
(the "Company" or the "Group")
Result of Scrip Dividend Alternative
Further to the Company's announcements on 1 August and 11 August
2016, Plastics Capital (AIM: PLA), the niche plastics products
group, announces that it has received final valid elections for the
Scrip Dividend Alternative in respect of 10,739,115 existing
ordinary shares of 1p each in the capital of the Company. This
figure represents approximately 30.4 per cent. of the Company's
issued ordinary share capital. Based on tax advice received by the
Company, the Directors believe that approximately 30 per cent. of
the Company's shareholder base was precluded from electing to take
up the scrip dividend alternative.
Accordingly, based on the previously announced reference price
of 106.5p per share and the final dividend of 2.94p per share, a
total of 296,450 new ordinary shares of 1p each will be allotted by
the Company ("New Shares") to shareholders who elected to receive
the Scrip Dividend Alternative. It is expected that the New Shares
will be issued and credited to CREST accounts on the payment date
of 7 September 2016.
Application will be made to AIM for the New Shares to be
admitted to trading on AIM on 7 September 2016 ("Admission").
Following Admission, the Company will have 35,641,023 ordinary
shares in issue admitted to trading on AIM. Following Admission,
this figure, 35,641,023 may be used by shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the Company under the FCA's Disclosure and
Transparency Rules.
Plastics Capital Tel: 020 7978 0574
plc
Faisal Rahmatallah,
Chairman
Nick Ball, Finance
Director
Cenkos Securities Tel: 020 7397 8900
(Nomad and joint
broker)
Mark Connelly
Callum Davidson
Allenby Capital Limited Tel: 020 3328 5656
(Joint broker)
David Hart
Katrina Perez
Walbrook PR Ltd Tel: 020 7933 8780/plastics@walbrookpr.com
Paul Cornelius Mob: 07866 384 707
Helen Cresswell Mob: 07841 917 679
Notes to Editor
Plastics Capital is a plastics products manufacturer focused on
proprietary products for niche markets. The Group has five
factories in the UK, one in Thailand and sales offices in the USA,
Japan, China and India. Approximately 40 per cent of sales are
exported to over 80 countries worldwide. Production is concentrated
in the UK where significant engineering know-how and automation
underpins the Group's competitiveness. The Group has approximately
500 employees.
This information is provided by RNS
The company news service from the London Stock Exchange
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