Further re demerger

18 Nov 2005 07:00

GUS PLC18 November 2005 18 November 2005 GUS plc Share consolidation ratio Further to the announcement yesterday, GUS plc today announces the consolidationratio for GUS shares which will accompany the demerger of its remaining stake inBurberry Group plc. Subject to shareholder approval and based on the average closing price of thefour days up to and including 17 November 2005 of GUS (863p) and Burberry(394p), GUS shareholders will receive 860 new GUS shares for every 1,000existing GUS shares held at 0700 hours on 13 December 2005. Following the demerger, the number of new consolidated GUS shares for thepurpose of calculating earnings per share in a full year will be 849m (excludingown shares held in Treasury and in the ESOP Trust). The GUS circular setting out the detailed proposals regarding the demerger willbe sent to GUS shareholders on 19 November 2005. Enquiries GUSDavid Tyler Group Finance Director 020 7495 0070Fay Dodds Director of Investor Relations FinsburyRupert Younger 020 7251 3801Rollo Head GUS and Burberry announcements are available on www.gusplc.com. Burberry Ordinary Shares are listed on the Official List and traded on theLondon Stock Exchange. The Burberry Ordinary Shares have not been and will notbe registered under the US Securities Act of 1933, as amended (the "SecuritiesAct"), and may not be offered or sold unless pursuant to a transaction that isregistered under the Securities Act, or not required to be registeredthereunder, or pursuant to an exemption from the registration requirementsthereof. The Burberry Ordinary Shares referred to in this announcement have not beenapproved or disapproved by the US Securities and Exchange Commission, any statesecurities commission in the United States or any other US regulatory authority,nor have such authorities passed upon or determined the adequacy or accuracy ofthis announcement. Any representation to the contrary is a criminal offence inthe United States. JPMorgan Cazenove Limited ("JPMorgan Cazenove") is acting for GUS in connectionwith the demerger and no one else and will not be responsible to anyone otherthan GUS for providing the protections afforded to clients of JPMorgan Cazenoveor for providing advice in relation to the demerger or any other mattersreferred to in this announcement. This information is provided by RNS The company news service from the London Stock Exchange