Last checked at 20 Jan 2017 11:43
Plastics Capital plc
(the "Company" or the "Group")
Result of Scrip Dividend Alternative
Further to the Company's announcements on 5 December and 29 December 2016, Plastics Capital (AIM: PLA), the niche plastics products group, announces that it has received final valid elections for the Scrip Dividend Alternative in respect of 9,135,603 existing ordinary shares of 1p each in the capital of the Company. This figure represents approximately 25.6 per cent. of the Company's issued ordinary share capital.
Accordingly, based on the previously announced reference price of 121.6p per share and the interim dividend of 1.46p per share, a total of 109,683 new ordinary shares of 1p each will be allotted by the Company ("New Shares") to shareholders who elected to receive the Scrip Dividend Alternative. It is expected that the New Shares will be issued and credited to CREST accounts on the payment date of 1 February 2017.
Application will be made to AIM for the New Shares to be admitted to trading on AIM on 1 February 2017 ("Admission"). Following Admission, the Company will have 35,750,706 ordinary shares in issue admitted to trading on AIM. Following Admission, this figure, 35,750,706 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
Plastics Capital plc | Tel: 020 7978 0574 |
Faisal Rahmatallah, Chairman |
|
Nick Ball, Finance Director |
|
|
|
Cenkos Securities | Tel: 020 7397 8900 |
(Nomad and joint broker) Mark Connelly Callum Davidson |
|
|
|
Allenby Capital Limited | Tel: 020 3328 5656 |
(Joint broker) David Hart |
|
Katrina Perez |
|
|
|
Walbrook PR Ltd | Tel: 020 7933 8780/plastics@walbrookpr.com |
Paul Cornelius | Mob: 07866 384 707 |
Helen Cresswell | Mob: 07841 917 679 |
Notes to Editors
Plastics Capital is a niche manufacturer of specialist plastic products. Applications for these products vary widely and examples include:
· Packaging for the food manufacturing and distribution - films, sacks and pouches
· Steering columns and instrument control knobs in the automotive industry - plastic ball bearings
· Hydraulic and industrial rubber hose manufacture - various types of plastic mandrel
· Cardboard box manufacture - plastic creasing matrices
Plastics Capital's business model is based on understanding customers' problems in depth, and then developing and mass producing proprietary, technical solutions for these problems.
The business operates through two divisions, Films and Industrial, and has the majority of its production in six UK based factories, with a further three factories in Asia. Approximately 40% of its £55 million sales are made outside the UK to more than 80 countries.