24th Oct 2014 07:00
Press Release | 24 October 2014 |
Camkids Group plc
("Camkids" or the "Company")
Notice of Extraordinary General Meeting
and Scrip Dividend Scheme
Camkids Group plc (AIM: CAMK), a leading Chinese designer, manufacturer and distributor of branded outdoor clothing, footwear and equipment for children and teenagers, will today post to shareholders a circular containing a notice of an extraordinary general meeting of the Company ("EGM"), to be held at 09.30 a.m. (UK time) on Tuesday 11 November 2014 at the offices of Allenby Capital Limited, 3 St. Helen's Place, London, EC3A 6AB. The purpose of the meeting is to seek shareholder approval for, inter alia, the payment of an interim dividend, details of which were announced by the Company in the Interim Results on 29 September 2014.
As previously announced, the Board intends to pay an interim dividend for the interim financial period ended 30 June 2014 which the Directors have decided to offer either in cash or as a scrip dividend. Shareholders may therefore elect to receive the interim dividend by way of a scrip dividend at 2.4 pence per ordinary share of no par value each ("Ordinary Share") in the capital of the Company ("Interim Scrip Dividend"). Alternatively, shareholders may decide to receive the interim dividend in cash at 2.0 pence per Ordinary Share.
The benefit to shareholders in electing for the Interim Scrip Dividend and receiving their interim dividend in the form of new Ordinary Shares instead of cash is that they can increase their shareholding in the Company without paying dealing costs or stamp duty. The scheme is also a benefit to the Company since the cash that would otherwise be paid out in dividends is retained within the business. Shareholders should bear in mind that the price of the Company's Ordinary Shares fluctuates and can therefore go down, as well as up, and the decision to elect to participate in the Interim Scrip Dividend is for each shareholder to take individually based upon his/her own circumstances.
The Company announces that the timetable for the payment of the proposed interim dividend to shareholders, as described more fully in the documents being sent to shareholders, is set out in the table below:
24 October 2014 | Posting of scrip dividend offer |
20 November 2014 | Ordinary Shares quoted ex dividend |
21 November 2014 | Record date for interim dividend |
05 December 2014 | Final date for receipt of Scrip Dividend Mandate / CREST Dividend Election Input Message |
18 December 2014 | Posting of cheques and tax vouchers (as appropriate) (with anticipated receipt date of 19 December 2014) |
19 December 2014 | Dividend payment date / allotment of new Ordinary Shares / first day of dealing in the new Ordinary Shares |
19 December 2014 | Posting share certificates |
Copies of the circular will be available on the Company's website (www.camkids-ir.com).
- Ends -
For further information:
Camkids Group plc | |
Zhang Congming, Executive Chairman | Tel: +44 (0) 20 7398 7714 |
Ng Pei Eng, Chief Finance Officer | www.camkids-ir.com |
Allenby Capital Limited | |
Alex Price / James Reeve / Nick Athanas | Tel: +44 (0) 20 3328 5656 |
www.allenbycapital.com |
Media enquiries:
Abchurch Communications Limited | |
Henry Harrison-Topham / Canace Wong | Tel: +44 (0) 20 7398 7714 |
www.abchurch-group.com |
Notes to editors
Camkids is a leading Chinese designer, manufacturer and distributor of branded outdoor clothing, footwear and equipment for children and teenagers.
Based in Fujian province in China, the Group focuses on children's sportswear for outdoor activities, combining functionality and innovation. The products are mid-range price based, targeting mid and high range markets within China.
The three main product areas are:
• Camkids outdoor clothing - all weather jackets, waterproof trousers, shirts, tops and T-shirts, woollen sweaters, jeans, trousers shorts and skirts;
• Camkids footwear - hiking boots, outdoor leisure footwear, flip-flops, sandals and boots
• Camkids equipment and accessories - telescopes, backpacks, technical packs, tents, sleeping bags, headgear, caps, kettles, headlights and torches.
The Group designs its entire product range and manufactures the majority of its footwear. Outdoor apparel and accessories are currently manufactured by third party OEMs.
Camkids' primary route to market for the sale of its products is through its network of distributors. The Group has established an extensive distribution network across 29 provinces, 4 municipalities and 5 autonomous regions within the PRC and is successfully expanding its presence in tier 3 and tier 4 cities. The Group has 17 authorised distributors operating over 1,336 franchised retail outlets, and continues to develop its e-commerce business and currently has over 200 product lines on offer through its existing online partners of Taobao and JD.com.
Camkids has received a number of prestigious awards. In September 2014 it was announced that Camkids had been included in the rankings as one of "The Top 500 Asia Brands". In addition to this prestigious award, the Group's Chairman has also been honoured as one of the "Top ten new brand creators in Chinese industry".
For more information please visit www.camkids-ir.com.
Related Shares:
CAMK.L