Last checked at 25 Aug 2016 14:51
Plastics Capital plc
(the "Company" or the "Group")
Result of Scrip Dividend Alternative
Further to the Company's announcements on 1 August and 11 August 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 10,739,115 existing ordinary shares of 1p each in the capital of the Company. This figure represents approximately 30.4 per cent. of the Company's issued ordinary share capital. Based on tax advice received by the Company, the Directors believe that approximately 30 per cent. of the Company's shareholder base was precluded from electing to take up the scrip dividend alternative.
Accordingly, based on the previously announced reference price of 106.5p per share and the final dividend of 2.94p per share, a total of 296,450 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 7 September 2016.
Application will be made to AIM for the New Shares to be admitted to trading on AIM on 7 September 2016 ("Admission"). Following Admission, the Company will have 35,641,023 ordinary shares in issue admitted to trading on AIM. Following Admission, this figure, 35,641,023 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 |
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Nick Ball, Finance Director |
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Cenkos Securities | Tel: 020 7397 8900 |
(Nomad and joint broker) Mark Connelly Callum Davidson |
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Allenby Capital Limited | Tel: 020 3328 5656 |
(Joint broker) David Hart |
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Katrina Perez |
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Walbrook PR Ltd | Tel: 020 7933 8780/plastics@walbrookpr.com |
Paul Cornelius | Mob: 07866 384 707 |
Helen Cresswell | Mob: 07841 917 679 |
Notes to Editor
Plastics Capital is a plastics products manufacturer focused on proprietary products for niche markets. The Group has five factories in the UK, one in Thailand and sales offices in the USA, Japan, China and India. Approximately 40 per cent of sales are exported to over 80 countries worldwide. Production is concentrated in the UK where significant engineering know-how and automation underpins the Group's competitiveness. The Group has approximately 500 employees.