Special divi & share consolidation19 Apr 2017 21:44
RNS Number : 7879C
National Grid PLC
19 April 2017
19 April 2017
Special Dividend and Notice of General Meeting
National Grid plc (the "Company") announces that its Board has approved a
special interim dividend of 84.375 pence per existing ordinary share or
US$5.4224 per American Depository Share1 (the "Special Dividend") following
completion of the sale of a majority interest in National Grid Gas
Distribution. The Special Dividend will be paid on 2 June 2017 to those
shareholders who are on the Company's register of members at 6:00pm (BST) on
19 May 2017.
In order to maintain the comparability of the Company's share price before and
after the Special Dividend, National Grid plans to undertake a share
consolidation. The share consolidation will replace every 12 existing ordinary
shares with 11 new ordinary shares. National Grid has published a Notice of
General Meeting and explanatory circular (the "Circular") to shareholders
regarding the share consolidation and related resolutions which will be put to
shareholders at the General Meeting of the Company.
The General Meeting will be held at 9:00am (BST) on Friday 19 May 2017 at the
offices of Linklaters LLP, One Silk Street, London EC2Y 8HQ.
The Circular will also be available on National Grid's website at
www.nationalgrid.com in the Investors section.
In compliance with Listing Rule 9.6.1R, the Circular has been submitted to the
UK Listing Authority via the National Storage Mechanism and will shortly be
available to the public for inspection at www.morningstar.co.uk/uk/nsm.
Timetable
NYSE notification 31 March 2017
Publication of circular and reference price for share consolidation 19 April 20172
General Meeting 19 May 2017
Record date for the special dividend 19 May 2017
Ex-dividend date for the special dividend 22 May 2017
Special dividend payment date 2 June 2017