Last checked at 1 Nov 2016 12:00
JD Sports Fashion plc
Proposed Share Sub-division and Notice of General Meeting
JD Sports Fashion plc ("Company") announces that a notice (the "Notice") of a general meeting of the Company to be held at Hollinsbrook Way, Pilsworth, Bury, Lancashire BL9 8RR on 24 November 2016 at 1.00 p.m. ("General Meeting"), and an explanatory circular that describes a proposed share sub-division (the "Circular") has today been sent to shareholders.
The Board believes that the Company's share price has risen to a point where it is appropriate to recommend a sub-division of the Company's existing ordinary shares of 1.25p each ("Existing Ordinary Shares") into five new ordinary shares of 0.25p each ("New Ordinary Shares") (the "Share Sub-division"). The Board believes that this proposed sub-division would, among other things, reduce the Company's share price to a level where smaller sized dealings in the shares would be more efficient and may improve liquidity and marketability of the Company's shares.
On 13 September 2016, the Company announced an interim dividend of 1.25p per Existing Ordinary Share. This dividend will be paid on 6 January 2017 to shareholders on the register as at close of business on 2 December 2016 (the "Dividend Record Date"). As it is currently expected that the Share Sub-division will become effective prior to the Dividend Record Date, the dividend per Existing Ordinary Share of 1.25p will also be sub-divided on the same basis as the Existing Ordinary Shares so that, on the Dividend Record Date, each New Ordinary Share will be entitled to a dividend of 0.25p. The aggregate monetary value of the dividend to be paid by the Company and received by eligible shareholders will not be affected by the proposed Share Sub-division.
A copy of the Circular and the accompanying form of proxy, along with the Notice, will be submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM. In addition, the Circular and Notice will shortly be made available to view on the Company's website www.jdplc.com.
The expected timetable of events and key statistics are set out below.
Enquiries:
JD Sports Fashion plc Tel: 0161 767 1000
Siobhan Mawdsley
Company Secretary
MHP Communications Tel: 0203 128 8100
Andrew Jaques
Barnaby Fry
Gina Bell
Expected timetable
| 2016 | |
General Meeting | 1.00pm on 24 November | |
Record date for the Share Sub-division | Close of business on 25 November | |
Last day for dealings in Existing Ordinary Shares | 25 November | |
Dealings in the New Ordinary Shares expected to commence | 8.00 am on 28 November | |
Expected date for crediting CREST accounts with New Ordinary Shares (where applicable) | 8.00 am on 28 November | |
Expected date by which certificates in respect of New Ordinary Shares are to be dispatched to certificated shareholders | By 6 December | |
Key Statistics
Existing Ordinary Shares Number of Existing Ordinary Shares of 1.25p each in issue at the date of this document |
194,646,632 |
ISIN code for Existing Ordinary Shares | GB00BMNQZP86 |
SEDOL code for Existing Ordinary Shares | BMNQZP8 |
New Ordinary Shares Number of New Ordinary Shares of 0.25p each in issue immediately following the Share Sub-division |
973,233,160 |
ISIN code for New Ordinary Shares | GB00BYX91H57 |
SEDOL code for New Ordinary Shares | BYX91H5 |