19th May 2008 16:55
19th May 2008AGA RANGEMASTER GROUP PLCUPDATE ON RETURN OF CASH
Aga Rangemaster Group plc (the Company) is pleased to provide an update on the Return of Cash to Shareholders.
Single Dividend on C Shares under the Dividend Alternative
A Single Dividend of ‚£1.21 has been declared by a committee of the Board in respect of those C Shares issued to shareholders under the Return of Cash who had elected for or deemed to have elected for the Dividend Alternative. It is expected that Shareholders receiving the Single Dividend will either be sent cheques or have their nominated bank accounts credited in accordance with existing mandate instructions by 29th May 2008.
Following payment of the Single Dividend the C Shares will be automatically reclassified as Deferred Shares. In accordance with the Company's Articles of Association all Deferred Shares will be transferred to the Company in consideration for the payment by the Company of one penny in aggregate for all such Deferred Shares, which consideration will not be sent to individual shareholders.
Redemption of B Shares under the Capital Alternative
A committee of the Board has also approved the redemption of the B shares allotted to Shareholders under the Return of Cash who had elected for the Capital Alternative for ‚£1.21 per B share. Following this redemption, no B shares will remain in issue. It is expected that cheques will be despatched and CREST accounts will be credited in respect of the Capital Alternative by 29th May 2008.
All defined terms used in this announcement shall have the same meaning as in the Circular issued to Shareholders dated 28th March 2008.
No application has been, or will be, made for the B Shares or the C Shares to be admitted to listing on the Official List or admitted to trading on the London Stock Exchange's market for listed securities or any other recognised investment exchange.
Following the announcement on 12th May 2008 that the Return of Cash is now being implemented, the Company confirms a change to the results of the Shareholder Elections or, as the case may be, deemed elections for the Alternatives in respect of the Return of Cash. A total of 32,249,771 B Shares of 121 pence each and a total of 83,091,629 C Shares of 0.001 pence each will be in issue.
Enquiries:
P M Sissons, Company Secretary +44 (0)121 711 6090
vendorRelated Shares:
AGA.L