21st Mar 2007 10:28
Drax Group PLC21 March 2007 21 March 2007 DRAX GROUP PLC (the "Company" or "Drax") (Symbol: DRX) SHARE CONSOLIDATION RATIO EXPECTED TIMTETABLE OF PRINCIPAL EVENTS RELATING TO THE FINAL AND SPECIAL DIVIDENDS, SHARE CONSOLIDATION AND ANNUAL GENERAL MEETING NEW ARTICLES OF ASSOCIATION POSTING OF DOCUMENTS TO SHAREHOLDERS ANNUAL GENERAL MEETING Share Consolidation Ratio Following the announcement regarding the Preliminary Results for 2006, Final and Special Dividends and Share Consolidation made by the Company on 8 March 2007, the Company now advises that, based on the closing price of the Company's shares on 20 March 2007: • The Share Consolidation will replace every 67 Existing Ordinary Shares with 64 New Ordinary Shares; and • The nominal value of the New Ordinary Shares will be 11 16/29 pence per share. Expected timetable of principal events relating to the Final and SpecialDividends, Share Consolidation and Annual General Meeting Detail below are the expected relevant dates in 2007 in respect of the Final and Special Dividends, the Share Consolidation and the Annual General Meeting. +--------------------------------------------------------------------+---------+|Annual Report and Accounts 2006 and Shareholder Circular posted to |23 March ||registered shareholders | |+--------------------------------------------------------------------+---------+|Latest time for receipt of Forms of Direction from Participants of |11:00am ||the Share Incentive Plan to be valid at the AGM |on 20 || |April |+--------------------------------------------------------------------+---------+|Latest time for receipt of Forms of Proxy and CREST proxy |11:00am ||instructions to be valid at the AGM |on 24 || |April |+--------------------------------------------------------------------+---------+|Existing Ordinary Shares marked Ex-Final Dividend |25 April |+--------------------------------------------------------------------+---------+|Annual General Meeting |11:00am || |on 26 || |April |+--------------------------------------------------------------------+---------+|Last time for dealings in Existing Ordinary Shares |27 April |+--------------------------------------------------------------------+---------+|Record Date for entitlement to the Final Dividend, Special Dividend |4.30pm 27||and for the Share Consolidation. Existing Ordinary Share register |April ||closes and Existing Ordinary Shares disabled in CREST | |+--------------------------------------------------------------------+---------+|Existing Ordinary Shares marked ex-Special Dividend |30 April |+--------------------------------------------------------------------+---------+|Admission of New Ordinary Shares and dealings commence |8:00am on|| |30 April |+--------------------------------------------------------------------+---------+|New Ordinary Shares credited to CREST accounts |30 April |+--------------------------------------------------------------------+---------+|Despatch of share certificates for New Ordinary Shares and cheques |15 May ||in respect of the sale of fractional entitlements to New Ordinary | ||Shares | |+--------------------------------------------------------------------+---------+|Payment of the Final Dividend and the Special Dividend |16 May |+--------------------------------------------------------------------+---------+ New Articles of Association In accordance with Disclosure and Transparency Rule 6.1.2, the Company alsoconfirms that there will be a resolution put to the Annual General Meetingseeking adoption of New Articles of Association to reflect certain provisions of the Companies Act 2006. Posting of documents to shareholders The following documents are to be posted to the registered shareholders onFriday 23 March 2007: • Annual Report and Accounts 2006;• Circular to Shareholders, which contains the Notice of Annual General Meeting;and• Form of Proxy. Copies of each of the above documents and the New Articles of Association willalso be submitted to the UK Listing Authority on Friday 23 March 2007 and willbe available shortly thereafter for inspection at the UK Listing Authority'sDocument Viewing Facility, which is situated at: Financial Services Authority25 The North ColonnadeCanary Wharf,London E14 5HSTel: +44 (0) 20 7676 1000. The Annual Report and Accounts 2006 and the Circular to Shareholders, whichcontains the Notice of Annual General Meeting, will also be available from 23March 2007 as follows: • for viewing on the Company's website, www.draxgroup.plc.uk; and/or• by writing to the Company Secretary at the Registered Office; Drax Power Station, PO Box 3, Selby, North Yorkshire YO8 8PQ. Annual General Meeting As stated in the Company's Preliminary Results Announcement made on 8 March2007, the Company is to hold its Annual General Meeting at 11.00am on Thursday26 April 2007, at The City Presentation Centre, 4 Chiswell Street, London EC1Y4UP. Peter RothwellCompany Secretary21 March 2007 ENDS This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Drax