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6 Jan 2017 15:02
6 January 2017
ITE Group plc ("Company") - ANNOUNCEMENT OF SCRIP REFERENCE PRICE
At the Company's Annual General Meeting held on 28 January 2016, shareholders granted the Company authority to introduce a SCRIP Dividend Scheme (the "Scheme"). The Scheme provides shareholders with the opportunity to elect to receive ordinary shares in the capital of the Company for every cash dividend entitlement where the Scheme is offered.
As announced on 29 November 2016, the board of directors of the Company approved a final dividend for the year ended 30 September 2016 of 3 pence per ordinary share payable on 6 February 2017 ("Final Dividend").
In relation to the Final Dividend, the Company invites shareholders, on the register on 30 December 2016, to participate in the Scheme and is offering those shareholders the opportunity to receive ordinary shares of 1 pence each in the Company, ranking equally with the existing issued ordinary shares, in place of cash dividends for the Final Dividend ("SCRIP Dividend Alternative").
The SCRIP reference share price for the fully paid ordinary shares to be issued to shareholders electing to receive the SCRIP Dividend Alternative is 155.5 pence per ordinary share. The SCRIP reference share price is calculated as the average of the closing middle market quotation for the Company's ordinary shares, derived from the London Stock Exchange Daily Official List, for the five consecutive dealing days from 29 December 2016 to 5 January 2017 (inclusive).
It is optional to join the Scheme and the Scheme's terms and conditions, how to join the Scheme and further information are available at www.ite-exhibitions.com/scrip
The deadline for applications to elect to receive the SCRIP Dividend Alternative for this Final Dividend is 4:30pm (UK time) on 16 January 2017. Shareholders may join the Scheme after this date, but it will only apply to future relevant dividends.
The SCRIP Dividend Alternative timetable for the Final Dividend is as follows:
Final dividend amount declared - 3p per ordinary share | 29 November 2016 |
Ex-dividend date | 29 December 2016 |
Record date | 30 December 2016 |
SCRIP reference share price calculation period | 29 December 2016 to 5 January 2017 |
SCRIP reference share price announced | 6 January 2017 |
SCRIP dividend election deadline for this Final Dividend | 16 January 2017 |
Dividend payment date | 6 February 2017 |
Further queries about the Scheme should be directed to the ITE Group plc Shareholder helpline on 0371 384 2030 (UK) or +44 121 415 7047 (outside the UK).
Contact:
Anneka Milham, Group Company Secretary
Anneka.milham@ite-exhibitions.com
+44 (0) 20 7596 5139
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