14th May 2007 10:18
Stagecoach Group PLC14 May 2007 Stagecoach Group plcReturn of Value - Update 14 May 2007 Stagecoach Group plc (the "Company") is pleased to provide an update in respectof the Return of Value to Shareholders. Results of Shareholder elections Shareholders' elections (or as the case may be, deemed elections) for the ShareAlternatives in respect of the Company's Return of Value were as follows: Number of Existing Ordinary Shares Alternative 1 (Income Option) 458,001,388Alternative 2 (Immediate Capital Option) 618,804,019Alternative 3 (Deferred Capital Option) 24,193,300 1,100,998,707 Based on the elections (or as the case may be, deemed elections) for the ShareAlternatives set out above, 277,777,735 B Shares and 823,220,972 C Shares wereissued at 8:00 a.m. today and Shareholders will receive the proceeds of theReturn of Value as follows: NumberAlternative 1 (Income Option) C Shares on which the Single C Share Dividend is expected to be paid on 25 May 2007 451,806,110 C Shares on which employee share ownership trusts have waived the Single C Share Dividend 6,195,278 Alternative 2 (Immediate Capital Option) B Shares which are expected to be redeemed with the redemption proceeds expected to be paid on 5 June 2007 253,584,435 C Shares which are expected to be sold to Credit Suisse Securities (Europe) Limited ("Credit Suisse") under the Purchase Offer, with the proceeds of sale expected to be paid on 5 June 2007 365,219,584 Alternative 3 (Deferred Capital Option) B Shares which are expected to be retained byShareholders for future redemption 24,193,300 1,100,998,707 No share certificates will be issued in respect of C Shares issued under any ofthe Share Alternatives, or B Shares issued under Alternative 2 (ImmediateCapital Option). CREST accounts have today been credited with, and sharecertificates are expected to be sent to Shareholders on 25 May 2007, in respectof B Shares issued under Alternative 3 (Deferred Capital Option). Total voting rights Further to the Share Capital Consolidation, for the purposes of the FinancialServices Authority's Disclosure and Transparency Rules, the issued sharecapital of the Company as at 8:00 a.m. today was as follows: Ordinary Shares of 56/57 pence each Ordinary Shares held by Stagecoach Group 3,982,677employee benefit trusts*Other Ordinary Shares 703,802,206Total Ordinary Shares in issue 707,784,883 * The Ordinary Shares held by Stagecoach Group employee benefit trusts do not rank for dividend. Each ordinary share in issue carries one vote in the event of a poll ofShareholders. No shares are held by the Company in Treasury. The above total Ordinary Shares in issue figure of 707,784,883 may be used byShareholders as the denominator for the calculations by which they willdetermine (if they are required to notify) their interest in, or a change totheir interest in, Stagecoach Group plc, under the Financial ServicesAuthority's Disclosure and Transparency Rules. Directors' interests Further to the Share Capital Consolidation, the interests of the Directors andother Persons Discharging Managerial Responsibility ("PDMR") in the OrdinaryShares of the Company are now as follows: Number of Ordinary Percentage of Ordinary Shares Shares in issueDirectors Robert Speirs 9,414Related Shares:
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