Helical Bar Regulatory News (HLCL)

1 Jul 2005 12:49

Helical Bar PLC01 July 2005 1 July 2005 HELICAL BAR PLC Announcement of dividend and purchase of outstanding B Shares HELICAL BAR PLC ("Helical Bar" or "the Company") Helical Bar plc ("Helical" or the "Company") announces that it has appointedJPMorgan Cazenove Limited ("JPMorgan Cazenove") to offer to purchase (the"Offer") all of the 612,704 B non-cumulative preference shares of 1 7/8 penceeach in the capital of the Company ("B Shares") remaining following theCompany's return of cash in 2004, at a price of 403.47 pence each (subject toappropriate rounding and free from all dealing expenses and commissions) (the"Offer Price"). The Offer Price is calculated by reference to the sum of 400 pence per B Share,being the amount payable to holders of B Shares who accepted the offerspreviously made as part of the return of cash, plus an amount of 3.22 pence perB Share which is referable to accrued dividend since 1 May 2005. In addition tothe Offer Price, holders of B Shares will also receive a dividend of 5.22 penceper B Share (subject to appropriate rounding) being the dividend for the periodto 30 April 2005. It is anticipated that the Offer will be made on 25 July 2005 to a record dateof 19 July 2005, with settlement on 26 July 2005. The Offer is conditional uponthe requisite resolutions being passed at the Company's Annual General Meetingon 20 July 2005. The Offer will not be made if the requisite resolutions arenot passed at the Annual General Meeting. In accordance with the Company's articles of association, the Company isempowered to appoint an officer of the Company to accept the Offer and toexecute transfers on behalf of holders of B Shares. Consequently, upon theOffer having been made, the holders of B Shares need take no action in order tocomplete the transfer of the B Shares to JPMorgan Cazenove. The Company will be applying for the listing on the Official List and theadmission to trading on the London Stock Exchange for the B Shares to becancelled as soon as possible after the Offer is completed. It is expected that JP Morgan Cazenove will exercise their right to requireHelical Bar to purchase from it all of the B Shares purchased pursuant to theOffer, following which the B Shares will be cancelled. Enquiries: Helical Bar 020 7629 0113 Nigel McNair Scott JPMorgan Cazenove 020 7588 2828 Richard Cotton Roger Clarke This information is provided by RNS The company news service from the London Stock Exchange