James Halstead Regulatory News (JHD)

14 Jan 2005 07:00

James Halstead PLC14 January 2005 James Halstead plc (the "Company") 14 January 2005 B Share and C Share Elections As announced on 1 November 2004, the Company is making a return of capital, by way of a B share and C share scheme, of 60 pence for each existing issued ordinary share held at the close of business on 10 December 2004. As part of the return of capital, shareholders were given the following choices: - to elect to receive B shares, entitling those shareholders to receive a dividend of 60 pence in respect of each of their B shares; and/or - to elect to receive C shares and to have those C shares redeemed for 60 pence each; and/or - to elect to receive C shares and to retain those C shares for redemption in the future. The Company today announces that shareholders have elected to receive: - 5,811,999 B shares, which will result in those shareholders receiving the B share dividend of 60 pence in respect of each of their B shares; - 7,794,007 C shares and to have those C shares redeemed for 60 pence each; and - 11,702,104 C shares and to retain those C Shares and have the right to have them redeemed in the future on 14 January in each calendar year until 14 January 2008. As stated in the circular to shareholders dated 1 November 2004, only 9,265,580 C shares could be issued in the return of capital. Therefore, shareholders who have elected for either the C share initial redemption or the C share future redemption right will have their election for C shares scaled back pro rata and will receive B shares to the extent that C shares cannot be allotted under the C share initial redemption and the C share future redemption right alternatives. Payments in respect of the B share dividend and C share initial redemption will be despatched by no later than 20 January 2005. The next date on which outstanding C shares may be redeemed is 14 January 2006 and the Company shall be obliged to redeem all C shares remaining in issue on 14 January 2008. Enquiries: James Halstead plcJack WhittakerTel: 0161 767 2500 Westhouse Securities LLPDavid SimmonsTel: 0161 838 9140 This information is provided by RNS The company news service from the London Stock Exchange