Greenko Group plc Initial Cash Return (1868L)

TIDMGKO

RNS Number : 1868L

Greenko Group plc

07 January 2016

7 January 2016

Greenko Group plc

("Greenko" or the "Company")

Initial Cash Return

At the Extraordinary General Meeting of the Company held on 18 December 2015, the Initial Cash Return by way of the B Share Scheme as set out in the Circular to shareholders dated 24 November 2015 ("Circular") was approved by the Shareholders.

Terms used and not defined in this announcement bear the meaning given to them in the Circular.

Greenko announces that its directors have today resolved to issue and allot 159,011,606 B Shares to Shareholders who were on the register of members of the Company as at 5.00 p.m. on 6 January 2016. The B Shares will not be admitted to trading on AIM or on any other recognised investment exchange or stock exchange.

The Initial Cash Return gave Shareholders a choice to elect between payment of a dividend in respect of the B Shares (the B Share Dividend), acceptance of an offer by the Company to purchase the B Shares (the B Share Purchase Offer) or a combination of both. In the absence of an election being made, Shareholders were deemed to have elected to receive their return by way of the B Share Dividend.

At the close of the Election Period, being 1.00 pm on 6 January 2016, the results of the elections were as follows.

 
 Option                    Number of existing Ordinary 
                            Shares 
 B Share Dividend          98,165,961 
 B Share Purchase Offer    60,845,645 
 

The Initial Cash Return is expected to be completed by 15 January 2016 with the despatch of cheques or crediting of CREST accounts (as appropriate) in respect of the B Share Dividend and B Shares purchased pursuant to the B Share Purchase Offer.

Following completion of the Initial Cash Return, the admission of the Ordinary Shares to trading on AIM will be cancelled with effect from 7.00 a.m. on 19 January 2016 and, accordingly, trading in Ordinary Shares on AIM will cease at the close of business on 18 January 2016.

Enquiries:

 
 Greenko Group plc                       [phone] 
 Keith Henry/Mahesh Kolli/Anil 
  Chalamalasetty 
 
 Arden Partners plc                      [phone] 
 Jonathan Keeling/Steve Douglas/James 
  Felix 
 
 Investec Bank plc                       [phone] 
 Jeremy Ellis/Nigel Robinson 
 
 Tavistock                               [phone] 
 Matt Ridsdale/Mike Bartlett/Niall 
  Walsh 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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January 07, 2016 09:32 ET (14:32 GMT)