22nd Jun 2006 17:22
FBD Holdings PLC22 June 2006 Validation No. 076601 Public Announcement FBD Holdings plc ("FBD" or "the Group") Sale of land at La Cala Resort, Spain and Payment of Special Dividend On 23rd February 2006, FBD announced a conditional agreement under which theGroup's 100% owned Spanish Property and Leisure Subsidiary, Ranchos ReunidosS.A. undertook to dispose of a major portion of the building development landwhich it owned at La Cala Resort, Mijas, Costa del Sol, Spain, for a totalconsideration of €201m. FBD is pleased to advise that the signing of the land transfer deal has takenplace as scheduled and the initial consideration payment of €100m. arising onthe Tranche 1 land has been received. The remainder of the Tranche 1consideration, amounting to €21m., is due for payment on 30th June 2007. As advised in the announcement of 23rd February 2006, the consideration,amounting to €80m., for the Tranche 2 land, becomes payable at a later date,subject to receipt of final planning approval from the Spanish Regional PlanningAuthority. Special Dividend In accordance with its previously advised intention to distribute the net cashproceeds arising from the overall transaction by way of two special dividends,the Board has declared the first special dividend of €1.60 per share. Thiswill be paid on the 11th August 2006 to shareholders on the Company Register atclose of business on 21st July 2006. This dividend is subject to withholdingtax ("DWT"), except for shareholders who are exempt from DWT and have furnisheda properly completed Capital Composite Resident Form to the Company'sRegistrar. Ends 22nd June 2006 For Reference: Telephone No FBD Philip Fitzsimons Chief Executive 00 - 353 - 1 - 4093208 Andrew Langford Finance Director 00 - 353 - 1 - 4093208 Murray Consultants Joe Murray 00 - 353 - 1 - 4980300 This announcement has been issued through the Companies Announcement Service of The Irish Stock Exchange. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
FBH.L