3rd Jun 2005 16:15
For immediate release 3rd June 2005 Proposed Special Dividend and Share Consolidation Following a strategic review of options to maximise the value for Shareholdersof UBM's market research business, NOP World, United Business Media plcannounced on 15 April 2005 that it had agreed to sell NOP World to GfKAktiengesellschaft for ‚£383 million in cash.Subsequent to the announcement of the sale, on 12 May 2005, UBM stated itsintention to return ‚£300 million of the sale proceeds to shareholders by way ofa special dividend. Following the successful completion of the NOP Worlddisposal on 1 June 2005, the Board is proposing to pay a Special Dividend of 89pence per Existing Ordinary Share.In order to maintain comparability of the UBM share price and earnings anddividend per share before and after the payment of the Special Dividend, theBoard is also seeking Shareholder approval to implement a consolidation ofUBM's issued ordinary share capital. The Share Consolidation will replace 17Existing Ordinary Shares with 14 New Ordinary Shares.UBM has posted a circular to Shareholders today setting out the details of theSpecial Dividend and the Share Consolidation and a notice of an ExtraordinaryGeneral Meeting to be held at 10 a.m. on 20 June 2005 to seek the requisiteapproval from Shareholders.Expected timetable of principal eventsLatest time for receipt of Forms of Proxy to be 10.00 a.m. on 18 Junevalid at the EGM Extraordinary General Meeting 10.00 a.m. on 20 June Last time for dealings in Existing Ordinary Shares 4.30 p.m. on 20 June Record Date for entitlement to the Special 6.00 p.m. on 20 JuneDividend and for the Share Consolidation Shares marked ex Special Dividend 21 June Admission of New Ordinary Shares and dealings 8.00 a.m. on 21 Junecommence New Ordinary Shares credited to CREST accounts 21 June Payment of Special Dividend 28 June Despatch of share certificates for New Ordinary 30 JuneShares and cheques in respect of the sale of fractional entitlements to New Ordinary Shares All times stated in this announcement are London time. If any of the abovedates change, the revised dates will be notified to Shareholders byannouncement through a Regulatory Information Service.A copy of the circular has been submitted to the UK Listing Authority and isavailable for public inspection at the UK Listing Authority's Document ViewingFacility, which is situated at:Financial Services Authority, 25 The North Colonnade, London E14 5HS.All definitions used in the circular to Shareholders dated 3 June 2005 have thesame meaning when used in this announcement.EnquiriesUnited Business Media plcAnne Siddell +44 (0)20 7921 5000 Company Secretary Michael Waring +44 (0) 20 7921 5031 Director of Communications Dresdner Kleinwort WassersteinJulian Smith +44 (0)20 7623 8000 Media Enquiries Colin Browne, The Maitland Consultancy +44 (0)20 7379 5151 Dresdner Kleinwort Wasserstein, which is regulated in the United Kingdom by TheFinancial Services Authority, is acting exclusively for United Business Mediaplc and for no one else in connection with the Proposals referred to in thisdocument, and will not be responsible to anyone other than United BusinessMedia for providing the protections afforded to customers of Dresdner KleinwortWasserstein Limited nor for providing advice to any other person in relation tothe Proposals.ENDUNITED BUSINESS MEDIA PLCRelated Shares:
UBM