29th Sep 2006 07:04
Mitchells & Butlers PLC29 September 2006 29 September 2006 Mitchells & Butlers plc Special Dividend and Share Consolidation On 15 September 2006, the Board of Mitchells & Butlers plc confirmed itsintention to return approximately £486 million to shareholders by way of aspecial dividend of £1 per existing ordinary share (the "Special Dividend"). It also confirmed its proposal that the Special Dividend would be accompanied bya proportional consolidation of the Company's ordinary share capital to allowcomparability of the share price and dividend per share before and after theSpecial Dividend. Subject to shareholder approval, for every 41 existing ordinary sharesshareholders will receive 34 new ordinary shares and the Special Dividend. The ratio used for the purposes of calculating the share consolidation has beendetermined by reference to the closing mid-market price of 591 pence perexisting ordinary share on 28 September 2006, the latest practicable date priorto publication of a circular to shareholders. An Extraordinary General Meeting to approve the share consolidation will takeplace on 17 October 2006 and the circular containing the notice of the meetingwill be posted to shareholders on 30 September 2006. The record date for theSpecial Dividend and the share consolidation is 6.00pm on 17 October 2006. TheSpecial Dividend is expected to be paid to shareholders on 25 October 2006. For further information, please contact: Investor RelationsKate Holligon 0121 498 5092 MediaFinsbury Group - James Murgatroyd 020 7251 3801 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Mitchells & Butlers