Dividend notification3 Oct 2011 19:32
Eurovestech PLC (Eurovestech) is proposing a Return of Capital on the following basis:
Under the terms of the Return of Capital, holders will receive 1 D share for each Existing Ordinary share held as at 5.00pm on 17th October 2011, being the Record Date. In respect of the D shares holders have the following options:
Option 1: Income Option - Receive a Single Dividend of 4 pence in cash for each D share held. For UK taxation purposes this option should be treated as income. (Default Option).
Option 2: Capital Option - Receive a Capital Repayment of 4 pence in cash for each D share held. For UK taxation purposes this option should be treated as capital.
In accordance with the terms of the Return of Capital holders who make no election will be deemed to have elected for Option 1, the Income Option.
Important Information & Other Key Dates:
The Company announced on 27th September 2011 that pursuant to the sale of one of its portfolio companies, Toluna PLC, it proposes to return approximately GBP13.25 million to shareholders by way of a return of cash.
The Return of Capital is subject to shareholder approval at the Annual General Meeting to be held on 14th October 2011.
Monies in respect of either the Capital Repayment or the Single Dividend are expected to be credited to accounts on or after 28th October 2011. Following payment all D shares will be converted into Deferred shares.
No application is being made for the Deferred shares to be listed on the Official List or admitted to trading on any stock market or securities exchange. These shares have extremely limited rights and benefits attached to them rendering them in effect, economically worthless and will therefore not be updated on to your account. For those shareholders with an income handling option of dividend reinvestment, please note that the proceeds from the Return of Capital will not be automatically reinvested and will instead be held in your account as cash.
Should you retain your holding of Eurovestech Ordinary shares we will update you in due course once your chosen entitlement has been credited to your account.
Before making any decision please take into consideration all relevant factors of the event including the current share price and any possible tax implications. If you require any further information in making your decision please contact an appropriate professional advisor.
Should you wish to find more information about the Return of Capital, please visit the Eurovestech website, http://www.eurovestech.co.uk/.