Best of the Best PLC Dividend Declaration (7963O)
November 10 2016 - 1:01AM
UK Regulatory
TIDMBOTB
RNS Number : 7963O
Best of the Best PLC
10 November 2016
Best of the Best plc
("Best of the Best", "BOTB" or "the Company")
Announcement of Special Dividend
Best of the Best plc, which runs competitions to win luxury cars
online and at retail locations, is pleased to declare the return of
approximately GBP1.0m to shareholders in the form of a special
dividend of 10 pence per ordinary share (the "Special Dividend").
The Company continues to be both profitable and cash generative,
benefits from a robust balance sheet and as such the Board deems it
appropriate to return surplus funds to shareholders via the Special
Dividend.
In order to pay the Special Dividend the Company is required to
produce and file a new balance sheet with Companies House,
demonstrating that it has sufficient distributable reserves.
Accordingly, the Company will shortly file an unaudited Company
balance sheet as at 30 September 2016.
The principal movements since the Company's last reported
balance sheet of 30 April 2016, are the improvement in the cash and
cash equivalents and an improvement in retained earnings as
detailed below. As a result of profitable trading since 30 April
2016, at 30 September 2016 the Company had unaudited Cash and Cash
Equivalents of GBP2,033,000 (YE 30 April 2016: GBP1,168,000), an
increase of GBP865,000 and Retained Earnings of GBP1,262,000 (FY 30
April 2016: GBP595,000), an increase of GBP667,000. Copies of the
full unaudited Company balance sheet as at 30 September 2016 will
shortly be available from Companies House.
Following payment of the Special Dividend, the Company will
retain cash balances in excess of GBP1.0 million, which the
Directors consider to be sufficient working capital to fund its
activities over the next 12 month period.
The Special Dividend will be paid on 2 December 2016 to
shareholders on the register at the close of business on 18
November 2016. The Ex-dividend date is 17 November 2016.
Enquiries:
Best of the Best William Hindmarch, T: 020 7371
plc Chief Executive 8866
Rupert Garton, Commercial
Director
KTZ Communications Katie Tzouliadis T: 020 3178
6378
finnCap Ltd Matt Goode T: 020 7220
(Nominated Adviser) Carl Holmes 0500
Anthony Adams
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
November 10, 2016 02:01 ET (07:01 GMT)