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24 Jul 2008 10:57
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24Β July 2008
Livermore Investments Group Limited ("Livermore" or "the Company")
Scrip Dividend Alternative
Β
On 2Β MayΒ 2008Β LivermoreΒ announced its final resultsΒ for the financial year to 31 December 2007Β and its directors recommended a final dividend ofΒ USΒ 3.5 centsΒ per ordinary share in the share capital of the Company ("2007Β Final Dividend").Β On 24 June 2008,Β the Company announcedΒ that,Β subject to shareholder approval, it intended to offer its shareholders the alternative of aΒ scripΒ dividendΒ for the 2007 Final DividendΒ ("ScripΒ Dividend Alternative").
Β
YesterdayΒ LivermoreΒ postedΒ a circular to its shareholders ("theΒ Circular") containing details of the terms ofΒ and election process forΒ theΒ ScripΒ Dividend AlternativeΒ and convening an extraordinary general meeting to be held on 12 August 2008 to seek approvalΒ to offer scrip dividends and to declareΒ theΒ 2007Β Final Dividend.
Conditional on the requisite shareholder approvals, shareholders may elect to receive new ordinary shares instead of cashΒ for theΒ 2007Β Final DividendΒ 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 theΒ Company's ordinary shares as derived from theΒ AIM Appendix to the Daily Official List on the day on which the Shares were first quoted "ex"Β theΒ 2007Β Final Dividend (16Β July 2008) and the four subsequent dealing days and (ii) the Sterling equivalent of a dividend of US 3.5 cents perΒ ordinary shareΒ converted from American Dollars (at a conversion rate of Β£1 per US$1.996 set by reference to Bloomberg at 4.30 p.m. onΒ 18 July 2008).
Any shareholders who wish to participate in the Scrip DividendΒ AlternativeΒ should refer to the details set out in the Circular and the form of election posted with it.Β
Β
A copy of the Circular, together with accompanying ancillary documents,Β isΒ available onΒ the Company's website:Β http://www.livermore-inv.comΒ
Enquiries:
LivermoreΒ
Doron YassurΒ
+972 542 555900Β
Hudson SandlerΒ
Jessica Rouleau / Fran ReadΒ
+44 20 7796 4133Β
Numis SecuritiesΒ
Nominated Adviser:Β Jag Mundi
Corporate Broking: Alex Ham
+44 20 7260 1000Β
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