22 Nov 2013 08:30
For immediate release | 22 November 2013 |
Asian Citrus Holdings Limited
("Asian Citrus" or "the Group")
Dividend Payment and Scrip Dividend Offer
Asian Citrus announces the foreign exchange rate for its 2012/13 final dividend payment and the share dividend price for its scrip dividend offer.
Cash Dividend
On 27 September 2013, Asian Citrus declared a final dividend of RMB0.05 per share for the year ended 30 June 2013.
Dividend payments will be converted to GBP or HK$ at a rate of 9.7975 or 0.7860, the relevant spot rates sourced from the Hong Kong Association of Banks on 19 November 2013. Shareholders that were holding shares on the Jersey register and Hong Kong branch register at the close of business on 15 November 2013 should expect to receive a cash dividend of approximately GBP0.005103 or HK$0.06361 per ordinary share payable on or before 31 December 2013.
Scrip Dividend
On 22 November 2013, Asian Citrus wrote to shareholders offering them a scrip dividend alternative to the final cash dividend for the year ended 30 June 2013. The offer price for the new shares to be issued under the Scrip Dividend Scheme is HK$2.7400 (GBP0.2198).
HK$2.74 is the average closing price of the shares of the Company for the five trading days starting from, and including,13 November 2013 on The Stock Exchange of Hong Kong Limited.
To receive one new ordinary share under this offer, a shareholder must have held 44 or more ordinary shares at the close of business on 15 November 2013. If insufficient ordinary shares were held and the cash value of the dividend is less than the price of the scrip dividend, shareholders will not be eligible to receive the scrip dividend on this occasion.
The scrip dividend offer will close on 13 December 2013. New ordinary shares to be issued under this offer will be issued pursuant to the specific five year mandate relating to financial periods ended on or prior to 30 June 2013 granted by the shareholders in the 2008 annual general meeting.
A circular explaining the proposed cash dividend and the scrip dividend further has today been posted to shareholders and will shortly be available on the Company's website (www.asian-citrus.com).
For further enquires:
Asian Citrus | |
Tony Tong / Tommy Tong, Executive Director | +852 2559 0323 |
Cantor Fitzgerald Europe (NOMAD and Joint Broker) | |
Rick Thompson / David Foreman (Corporate Finance) | +44 (0) 20 7894 7000 |
Richard Redmayne (Corporate Broking)
| |
Liberum Capital Limited (Joint Broker) Clayton Bush / Richard Bootle
| +44 (0) 20 3100 2222 |
Weber Shandwick Financial | +44 (0) 020 7067 0700 |
Nick Oborne, Stephanie Badjonat, John Moriarty |