Best of the Best PLC Dividend Declaration (7963O)

TIDMBOTB

RNS Number : 7963O

Best of the Best PLC

10 November 2016

Best of the Best plc

("Best of the Best", "BOTB" or "the Company")

Announcement of Special Dividend

Best of the Best plc, which runs competitions to win luxury cars online and at retail locations, is pleased to declare the return of approximately GBP1.0m to shareholders in the form of a special dividend of 10 pence per ordinary share (the "Special Dividend"). The Company continues to be both profitable and cash generative, benefits from a robust balance sheet and as such the Board deems it appropriate to return surplus funds to shareholders via the Special Dividend.

In order to pay the Special Dividend the Company is required to produce and file a new balance sheet with Companies House, demonstrating that it has sufficient distributable reserves. Accordingly, the Company will shortly file an unaudited Company balance sheet as at 30 September 2016.

The principal movements since the Company's last reported balance sheet of 30 April 2016, are the improvement in the cash and cash equivalents and an improvement in retained earnings as detailed below. As a result of profitable trading since 30 April 2016, at 30 September 2016 the Company had unaudited Cash and Cash Equivalents of GBP2,033,000 (YE 30 April 2016: GBP1,168,000), an increase of GBP865,000 and Retained Earnings of GBP1,262,000 (FY 30 April 2016: GBP595,000), an increase of GBP667,000. Copies of the full unaudited Company balance sheet as at 30 September 2016 will shortly be available from Companies House.

Following payment of the Special Dividend, the Company will retain cash balances in excess of GBP1.0 million, which the Directors consider to be sufficient working capital to fund its activities over the next 12 month period.

The Special Dividend will be paid on 2 December 2016 to shareholders on the register at the close of business on 18 November 2016. The Ex-dividend date is 17 November 2016.

Enquiries:

 
 Best of the Best       William Hindmarch,           T: 020 7371 
  plc                    Chief Executive              8866 
                         Rupert Garton, Commercial 
                         Director 
 KTZ Communications     Katie Tzouliadis             T: 020 3178 
                                                      6378 
 finnCap Ltd            Matt Goode                   T: 020 7220 
  (Nominated Adviser)    Carl Holmes                  0500 
                         Anthony Adams 
 

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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November 10, 2016 02:01 ET (07:01 GMT)