Last checked at 24 Jun 2010 10:46
FOR IMMEDIATE RELEASE
24 June 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 Preference Shares and Payment of Special Dividend
Further to the announcement by BlueGem Gamma Limited ("BGL") on 23 June 2010 that its recommended cash offer for the Company has been declared unconditional in all respects by the BGL board, the board of Liberty today announces that it has accordingly adjusted the dates for the arrears of dividend on the Preference Shares and the Special Dividend which were announced on 27 May 2010, further details of which are set out further below.
Terms used in this announcement shall have the meaning given to them in the Offer Document dated 28 May 2010, unless the context requires otherwise.
Payment of arrears of dividend on 6% Preference Shares
On 27 May 2010, it was announced that the Board of Liberty had resolved to pay the arrears of dividend on the Preference Shares in the aggregate sum of £224,000 ("the arrears of preference dividend") conditional on the Offer becoming or being declared unconditional in all respects and immediately prior to the payment of the Special Dividend.
Accordingly, the arrears of preference dividend will be paid to Liberty Preference Shareholders on the register at the close of business on 23 June 2010 (this date remains as previously announced), being the date on which the Offer was declared wholly unconditional (the "Record Date"), 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 28 June 2010 (the previously announced expected date was 25 June 2010) and the payment date will be 29 June 2010 (this date remains as previously announced).
Payment of Special Dividend
On 27 May 2010, it was also announced that the Board of Liberty had resolved to pay a special dividend of 44.2 pence per Liberty Share ("the special dividend"), the payment of which was be conditional on the Offer becoming or being declared unconditional in all respects.
Accordingly, the Special Dividend will be paid to Liberty Shareholders on the register at the close of business on 23 June 2010 (this date remains as previously announced), being the date on which the Offer was declared wholly unconditional (the "Record Date"), 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 Special Dividend will be 28 June 2010 (the previously announced expected date was 25 June 2010), being three business days following the announcement of the Offer becoming or being declared unconditional in all respects (since the time of the announcement when the Offer was declared wholly unconditional was after 8.00am on 23 June 2010);
·; the payment date for the Special Dividend will be 30 June 2010 (this date remains as previously announced), being the date that is 7 days following the Record Date.
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