Last checked at 24 Jul 2008 10:57
24 July 2008
Livermore Investments Group Limited ("Livermore" or "the Company")
Scrip Dividend Alternative
On 2 May 2008 Livermore announced its final results for the financial year to 31 December 2007 and its directors recommended a final dividend of US 3.5 cents per ordinary share in the share capital of the Company ("2007 Final Dividend"). On 24 June 2008, the Company announced that, subject to shareholder approval, it intended to offer its shareholders the alternative of a scrip dividend for the 2007 Final Dividend ("Scrip Dividend Alternative").
Yesterday Livermore posted a circular to its shareholders ("the Circular") containing details of the terms of and election process for the Scrip Dividend Alternative and convening an extraordinary general meeting to be held on 12 August 2008 to seek approval to offer scrip dividends and to declare the 2007 Final Dividend.
Conditional on the requisite shareholder approvals, shareholders may elect to receive new ordinary shares instead of cash for the 2007 Final Dividend on the basis of one new share for every 14.34 shares held as at close of business on 18 July 2008. The scrip dividend ratio has been calculated on the basis of (i) the price of 25.15p which was the average middle market quotation for the Company's ordinary shares as derived from the AIM Appendix to the Daily Official List on the day on which the Shares were first quoted "ex" the 2007 Final Dividend (16 July 2008) and the four subsequent dealing days and (ii) the Sterling equivalent of a dividend of US 3.5 cents per ordinary share converted from American Dollars (at a conversion rate of £1 per US$1.996 set by reference to Bloomberg at 4.30 p.m. on 18 July 2008).
Any shareholders who wish to participate in the Scrip Dividend Alternative should refer to the details set out in the Circular and the form of election posted with it.
A copy of the Circular, together with accompanying ancillary documents, is available on the Company's website: http://www.livermore-inv.com
Enquiries:
Livermore
Doron Yassur
+972 542 555900
Hudson Sandler
Jessica Rouleau / Fran Read
+44 20 7796 4133
Numis Securities
Nominated Adviser: Jag Mundi
Corporate Broking: Alex Ham
+44 20 7260 1000