5th Jun 2006 07:00
Computacenter PLC05 June 2006 PROPOSED RETURN OF CAPITAL AND NOTICE OF EXTRAORDINARY GENERAL MEETING In the announcement at our AGM meeting on 5 May 2006 we stated that we wereproceeding with our plans to return £75 million to shareholders. Today we areposting a Circular to shareholders with further details of the proposed returnof capital and convening an Extraordinary General Meeting, to be held at 10.00amon 28 June 2006, to obtain all necessary shareholder approvals for itsimplementation. The return of capital is being made using a B share structure, which has beendesigned to ensure equal participation by all shareholders, with eachshareholder on the register of members as at 30 June 2006 receiving one B sharefor each existing ordinary share. The B shares will each have a nominal value of39 pence and the total nominal value of the B shares issued will beapproximately £74.4 million. The B shares will not be listed and will beredeemed at their nominal value of 39 pence per share on 4 July 2006. In connection with the return of capital, the Board is also proposing a sharecapital consolidation such that shareholders will receive 5 new ordinary sharesfor every 6 existing ordinary shares. The intention is that, subject to normalmarket movements, the share price of one new ordinary share immediately afterthe share capital consolidation should be approximately equal to the share priceof one existing ordinary share immediately beforehand. The total number ofshares in issue will be reduced as a result of the share capital consolidation,reflecting the return of 39 pence per share. Subject to the approval ofshareholders, the Financial Services Authority and the London Stock Exchange,the Board expects trading in the new ordinary shares to commence on the LondonStock Exchange on 3 July 2006. Computacenter plc has forwarded copies of the Circular to the Financial ServicesAuthority pursuant to Listing Rule 9.6.1 and copies will shortly be available tothe public for inspection at the UK Listing Authority's Document ViewingFacility, which is situated at: Financial Services Authority, 25 The NorthColonnade, Canary Wharf, London, E14 5HS (Telephone: + 44 20 7066 1000). For further information please contact: Computacenter plc:Mike Norris, Chief Executive 01707 631 601Tony Conophy, Finance Director 01707 631 516Tessa Freeman, Investor Relations 01707 631 514 HSBC Bank plc:Nick Donald 020 7992 2151Giles Lambert 020 7992 2173 Tulchan Communications:Stephen Malthouse 020 7353 4200 HSBC Bank plc, which is regulated in the United Kingdom by the FinancialServices Authority, is acting as financial adviser and corporate broker toComputacenter plc and is acting for no-one else in connection with the return ofcapital and will not be responsible to anyone other than Computacenter plc forproviding the protections afforded to customers of HSBC Bank plc nor forproviding advice to any other person in relation to the return of capital or anyother matter referred to in this announcement or the Circular. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Computacenter