1st Apr 2005 08:30
British Sky Broadcasting Group PLC01 April 2005 British Sky Broadcasting Group plc 1 April 2005 Corporate reorganisation In August 2004, the Group announced its intention to increase the level ofdistributable reserves of British Sky Broadcasting Group plc ("BSkyB").Accordingly, BSkyB Investments Limited, a newly-formed subsidiary of BSkyB, hasapplied to the High Court for a reduction of share capital which, if approved bythe Court, is expected to result in BSkyB having access to significantadditional distributable reserves. The petition for the reduction of capital isdue to be heard by the Court on 13 April 2005. In addition to its ordinary dividend payments, BSkyB is currently returning cashto shareholders by means of a share buy-back programme under an authoritygranted by shareholders at BSkyB's Annual General Meeting in November 2004. Enquiries: Analysts/Investors: Oliver Lewis Tel: 020 7705 3337Robert Kingston Tel: 020 7705 3726 E-mail: [email protected] Press: Julian Eccles Tel: 020 7705 3267Robert Fraser Tel: 020 7705 3036 E-mail: [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Sky