Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

Conclusion of transitional services agreement

30th Jun 2017 07:00

RNS Number : 6533J
Cambian Group PLC
30 June 2017
 

30 June 2017

 

Cambian Group plc

 

Conclusion of transitional services agreement

Update on return of capital

 

 

As part of the sale of its adult services business in late 2016, Cambian committed to provide certain shared services to the buyer for a period of up to nine months under a transitional services agreement. We are pleased to report that the provision of these services ended on 28 June, allowing management to fully focus on being a high quality provider of specialist behavioural health services for children in the UK.

 

As reported on 26 April 2017, Cambian intends to return £50 million of capital to shareholders by way of a special dividend, the declaration of which remains subject to a number of conditions, including creation of sufficient distributable reserves and final Board approval. Good progress has been made and we expect to be in a position to announce further details of the special dividend in August, with payment thereafter.

 

 

Enquiries:

Cambian Group plc

+44 (0)20 8735 6150

Saleem Asaria, Chief Executive Officer

 

Martin Hopcroft, Chief Financial Officer

 

 

Instinctif Partners

+44 (0)20 7457 2020

Mark Garraway

 

James Gray

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCFLMFTMBJTBIR

Related Shares:

Cambian Group
FTSE 100 Latest
Value8,275.66
Change0.00