14 Jun 2013 08:59
CIC CAPITAL LTD.
("CIC" or the "Company")
Annual issue of Bonus B Shares Dividend and proposed conversion of June 2012 B Share Dividend shares into new common shares
CIC (AIM: CICC), the consulting and advisory firm operating primarily in the mining and energy infrastructure sectors, is pleased to announce the intention to issue Special Series B Class Non-Voting shares (the "B Shares") to all registered shareholders.
This award to shareholders represents the second year running a dividend has been awarded by the Company.
The number of B Shares that registered shareholders shall be entitled to shall be the equivalent to 4 percent of their shareholding at the Record Date, being 30 July 2013. That is the date the Company will view the shareholder list to award the bonus dividend.
The B Shares will not be admitted to trading on AIM and will be non-voting. The B Shares will however have the right to convert into common ordinary shares at end June 2014 at an equivalent price of one B Share for one common ordinary share at which point application for the converted shares to be admitted to trading on AIM shall be made.
Stuart J. Bromley, CEO, a substantial shareholder and Hao Quan, who between them own 84,616,999 common shares representing 45.38 per cent of the common shares in issue, have elected not to receive their dividend entitlement for a second year.
Conversion of June 2012 bonus dividend.
The Company will convert last year's B Class share dividend into common voting shares on a one for one basis on or before the end of July 2013. Shareholders will be contacted directly by the Company to provide them with further details of the action they must take if they wish to convert their B Class non-voting shares into common voting shares. Application will then be made to the London Stock Exchange for the new common voting shares in the Company to be admitted to trading on AIM pursuant to the conversion of the B Class Shares.
Stuart J. Bromley, CEO commented: ÒThe dividend on 6 June 2012 was awarded when the share price was around 2 UK pence. The current price is approximately three times that value effectively turning last years dividend to an equivalent 12 % of value based on their June 2012 shareholding. Further the un-registered shareholders reduced significantly after the announcement of the annual dividend allowing for more effective participation in future shareholder meetings."
Enquiries
CIC Capital Ltd
Stuart Bromley
Tel: +86 136 0113 1912
Nominated Adviser
Cairn Financial Advisers LLP
Tony Rawlinson
Tel: +44 (0)207 148 7900