4th Jul 2008 10:35
4 July 2008 Royal Court of Jersey approves UBM's reduction of capital
United Business Media Limited ("UBM") announces that the reduction of capital has now been approved by the Royal Court of Jersey.
The reduction of capital has created distributable reserves of approximately ‚£1.3 billion for UBM to utilise for dividend payments and share repurchases in the medium to long term.
As a result of the reduction of capital, the nominal value of New UBM Shares has been reduced from 33 71/88 pence to 10 pence.
- Ends - ContactsMedia Peter Bancroft Director of Communications E-mail [email protected] Direct telephone +44 20 7921 5961 Chris Barrie Citigate Dewe Rogerson E-mail [email protected] Direct telephone +44 20 7282 2943 Mobile +44 796 872 72 89 Analysts/Investors Email [email protected] Direct telephone +44 20 7921 5095 Nigel Wilson +44 20 7921 5019 Andrew Crow +44 20 7921 5940 Notes to Editors
About United Business Media
United Business Media is a leading global business media company. We inform markets and bring the world's buyers and sellers together at events, online, in print, and with the information they need to do business successfully. We focus on serving professional commercial communities, from doctors to game developers, from journalists to jewellery traders, from farmers to pharmacists around the world. Our 5,000 staff in more than 30 countries are organised into specialist teams that serve these communities, helping them to do business and their markets to work effectively and efficiently. For more information, go to www.unitedbusinessmedia.com.
Terms used in this announcement shall have the same meaning given to them in the circular sent to UBM's shareholders dated 9 May 2008, unless the context otherwise requires.
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN INVITATION OR OFFER TO SELL OR THE SOLICITATION OF AN INVITATION OR OFFER TO BUY ANY SECURITY. NONE OF THE SECURITIES REFERRED TO IN THIS ANNOUNCEMENT SHALL BE SOLD, ISSUED, EXCHANGED OR TRANSFERRED IN ANY JURISDICTION IN CONTRAVENTION OF APPLICABLE LAWS.
NOTICE TO UNITED STATES RESIDENTS
This announcement is not an offer of securities in the United States.
The New UBM Shares will not be, and are not required to be, registered with the US Securities and Exchange Commission under the US Securities Act of 1933, as amended, in reliance on the exemption from registration provided by Section 3 (a)(10) thereof.
vendorRelated Shares:
UBM