Last checked at 27 May 2010 17:29
FOR IMMEDIATE RELEASE
27 May 2010
Not for release, publication or distribution in whole or in part, in or into the United States, Canada, Australia, Japan or any other jurisdiction if to do so would constitute a violation of the relevant laws of such jurisdiction.
LIBERTY Plc ("Liberty" or "the Company")
Payment of arrears of dividend on 6% Preference Shares and declaration of Special Dividend
Further to the announcement on 19 May 2010 by BlueGem Gamma Limited of the detailed terms of a recommended offer for the Company ("the 19 May 2010 announcement"), Liberty today announces that the Board of Liberty has resolved to pay the arrears of dividend on the 6% Preference Shares and has declared the Special Dividend as further set out below.
Terms defined in the announcement made by BlueGem Gamma Limited on 19 May 2010 in connection with the Offer (as defined on pages 36 to 40 therein) and containing the terms of the Offer shall have the same meaning in this document unless the context requires otherwise.
Payment of arrears of dividend on 6% Preference Shares
The Board of Liberty has today resolved to pay the arrears of dividend on the 6% Preference Shares in the aggregate sum of £224,000 conditional on the Offer becoming or being declared unconditional in all respects and immediately prior to the payment of the Special Dividend.
The arrears of preference dividend will be paid to Liberty 6% Preference Shareholders on the register at the close of business on the date on which the Offer becomes or is declared unconditional in all respects (the "Record Date"), which is expected to be 22 June 2010, in respect of the shares registered in their name at that time. In accordance with the London Stock Exchange's dividend timetable for 2010, the ex-dividend date for the arrears of preference dividend will be 24 June 2010 and the payment date will be 28 June 2010.
Declaration of Special Dividend
The Board of Liberty has today resolved to pay a special dividend of 44.2 pence per Liberty Share, the payment of which will be conditional on the Offer becoming or being declared unconditional in all respects.
The Special Dividend will be paid to Liberty Shareholders on the register at the close of business on the date on which the Offer becomes or is declared unconditional in all respects (the "Record Date"), which is expected to be 22 June 2010, in respect of the shares registered in their name at that time. This Record Date supersedes the record date included in the 19 May 2010 announcement where it was stated that the record date for the Special Dividend would be the date on which the Offer Document is posted to Liberty Shareholders.
In accordance with the London Stock Exchange's dividend timetable for 2010:
·; the ex-dividend date for the Special Dividend will be two business days following the announcement of the Offer becoming or being declared unconditional in all respects, if announced before 8.00 am (London time), or three business days, if announced after 8.00 am (London time). As such, it is currently expected that the ex-dividend date will be 24 June 2010;
·; the payment date for the Special Dividend will be the date that is within 7 days following the Record Date, and is currently expected to be 29 June 2010.
The times and dates set out above are those expected at the date of this announcement. If they are required to be adjusted by the Board of Liberty, details of the new dates and times will be notified to the London Stock Exchange and an RNS announcement will be made by the Company.
Contact:
Richard Balfour-Lynn, Chairman, Liberty Tel: 020 7706 2121
Baron Phillips, Baron Phillips Associates Tel: 020 7920 3161
Nicola Marrin, Seymour Pierce Tel: 020 7107 8000