27th Jun 2016 06:49
LONDON (Alliance News) - UBM PLC said the company's share consolidation plan is effective from Monday following the sale of its PR Newswire business earlier this month.
UBM had announced the sale of the business in late 2015 to Cision, a PR software company owned by Chicago-based private equity house GTCR Canyon Holdings, for total cash proceeds of GBP490.0 million.
UBM has returned GBP245.0 million of the proceeds to shareholders via a special dividend, and its associated share consolidation of eight shares for nine is effective from Monday with the new shares issued for trading.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
UBM