19th Oct 2006 07:01
Domino's Pizza UK & IRL PLC19 October 2006 For Immediate Release 19 October 2006 DOMINO'S PIZZA UK & IRL plc ANNOUNCEMENT OF CAPITAL RE-STRUCTURING TO RETURN FURTHER CASH TO SHAREHOLDERS Domino's Pizza UK & IRL plc ('Domino's Pizza' or 'the Company'), the UK andIreland leader in pizza delivery, is pleased to announce that a re-structuringdesigned to optimise the capital structure of the Company and its subsidiaries('the Group'), has been confirmed by the High Courts of Justice and has becomeeffective. The Group generates cash which is surplus to operational requirements. Itsstrategy provides for the return of such excess cash to shareholders. To date,this has been achieved by augmenting a progressive dividend policy with sharebuy-backs. In order to continue with this strategy of returning surplus cash toshareholders the Company needs to ensure that it has sufficient distributablereserves. Stephen Hemsley, Chief Executive of Domino's, said: "This re-structuring will enable the Group to increase its distributablereserves, continue a progressive dividend policy and undertake further sharebuy-backs. Domino's Pizza is an extremely cash-generative business and this isthe best way of maximising shareholder value." The Company will make an announcement with regard to any further purchasing ofshares that it may consider in due course. ENDS For further information, please contact: Domino's Pizza: Stephen Hemsley - Chief Executive 01908 580604 Bernadette Ahmed - Press Office 07909 928016 Hogarth Partnership Limited: Chris Matthews, Fiona Noblet, Anthony 020 7357 9477Arthur Notes to editors: Domino's Pizza UK & IRL plc holds the exclusive master franchise to own, operateand franchise Domino's Pizza stores in the UK and Ireland. The Group is theleading player in the UK and Ireland's fast-growing pizza delivery market. Thefirst UK store opened in 1985 and the first Irish store opened in 1991. There are 428 stores in the UK and Ireland. Of these, 345 stores are in England,31 are in Scotland, 14 are in Wales, 11 are in Northern Ireland and 27 are inthe Republic of Ireland. Founded in 1960, Domino's Pizza is the recognised world leader in pizzadelivery. Through its primarily franchised system, Domino's Pizza operates aglobal network of more than almost 8,000 stores in 55 countries. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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