Last checked at 18 Dec 2012 17:50
18 December 2012
VESUVIUS PLC
Demerger update: Reduction of capital effective
Vesuvius plc ("Vesuvius") is pleased to announce that, following the confirmation by the Court of the Vesuvius Capital Reduction on 17 December 2012, the Vesuvius Capital Reduction has now become effective and the nominal value of the Vesuvius Shares has been reduced to 10 pence per share.
The Demerger is expected to become effective prior to 8.00 a.m. on 19 December 2012. If the Demerger becomes effective, each Vesuvius Shareholder on the register at 6.00 p.m. on 18 December 2012, the Demerger Record Time, will receive one Alent Share in addition to each Vesuvius Share they already hold. Following the Demerger Effective Time, Vesuvius will trade with the ticker VSVS.
Admission of the Alent Shares to the premium listing segment of the Official list and to trading on the London Stock Exchange's main market for listed securities, under the ticker ALNT, is expected to occur at 8.00 a.m. on Wednesday 19 December 2012. CREST accounts will be credited with Alent Shares at the same time and certificates in respect of Alent Shares will be despatched by 2 January 2013.
A detailed timetable of events is set out in the circular sent to Cookson Group plc shareholders dated 1 November 2012 (the "Circular").
Copies of the Circular are available for inspection during normal business hours on any business day at the offices of Linklaters LLP, One Silk Street, London EC2Y 8HQ, up to and including the Demerger Effective Time.
Capitalised terms used in this announcement have the meanings given to them in the Circular.
About Vesuvius
Vesuvius is a global leader in metal flow engineering, developing, manufacturing and marketing mission-critical ceramic consumable products and systems to demanding applications, primarily in the global steel and foundry industries. Vesuvius also supplies fabricated precious metals to the jewellery industry in Europe and has significant precious metals recycling operations.
About Alent
Alent is a leading global supplier of advanced surface treatment plating chemicals and electronics assembly materials. The principal end-market is global electronics production which accounts for approximately three-quarters of net sales value with the automotive and industrial end-markets the balance.
Contacts
Vesuvius Tel: +44(0)20 7822 0000
Rachel Fell, Company Secretary
Maddy Cox-Smith, Investor Relations Manager
MHP Communications Tel: +44(0)20 3128 8100
John Olsen
Ian Payne
Vesuvius plc, 165 Fleet Street, London EC4A 2AE
Registered in England and Wales No. 8217766