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PINE Pinewood Technologies Group Plc

376.50
-5.50 (-1.44%)
Last Updated: 14:51:41
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Pinewood Technologies Group Plc LSE:PINE London Ordinary Share GB00BSB7BS06 ORD GBP1.00
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -5.50 -1.44% 376.50 376.50 379.50 381.50 376.50 381.00 626,951 14:51:41
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Automotive Dealers, Nec 24.5M 81.7M 0.9378 4.04 330.17M

Pinewood Technologies Group PLC Share Consolidation

23/04/2024 7:00am

RNS Regulatory News


RNS Number : 5684L
Pinewood Technologies Group PLC
23 April 2024
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

FOR IMMEDIATE RELEASE

23 April 2024

 

Pinewood Technologies Group PLC ("Pinewood" or the "Company")

 

Share Consolidation, Admission of New Ordinary Shares, Total Voting Rights and payment of Special Dividend

The Board of Pinewood announces that, following approval of the Share Consolidation at the General Meeting of the Company held on 22 April 2024, applications were made to the FCA and the London Stock Exchange for the Share Consolidation to be reflected on the Official List. It is expected that 87,115,622 ordinary shares of £1.00 each in the capital of the Company will be admitted to trading and dealings will commence on the London Stock Exchange at 8:00 a.m. today.


As part of the Share Consolidation, the Existing Ordinary Shares have been consolidated such that Shareholders will receive 1 New Ordinary Share in substitution for every 20 Existing Ordinary Shares held. Shareholders will hold the same proportion of the Company's issued share capital as they did immediately prior to the implementation of the Share Consolidation, subject only to adjustments for fractional entitlements.


As at 23 April 2024, the Company's issued ordinary share capital consists of 87,115,622 ordinary shares of £1.00 each. The voting rights attached to the ordinary shares are on the basis of one vote per share, representing total voting rights of 87,115,622. There are no shares held in treasury.


The above figure (87,115,622) may be used by Shareholders as the denominator for calculations by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.


CREST accounts will be credited with New Ordinary Shares today. The Board expects share certificates in respect of the New Ordinary Shares to be despatched on 1 May 2024 and cheques in respect of any cash proceeds from the sale of fractions of Existing Ordinary Shares to be despatched to the relevant Shareholders on 7 May 2024. Further details of how fractional entitlements are to be dealt with are set out in the explanatory circular of the Company dated 5 April 2024 (the "Circular").


Following approval of the Special Dividend at the General Meeting of the Company held on 22 April 2024, the Board of Pinewood expects the Special Dividend to be paid on 7 May 2024.


Capitalised terms used but not otherwise defined in this announcement have the same meaning given to them in the Circular.


Enquiries:

 

Jefferies International Limited (Financial Adviser and Joint Corporate Broker)

+44 (0) 20 7029 8000

Philip Noblet


Thomas Bective


Jordan Cameron




Headland Consultancy (PR & Communications)

+44 (0) 20 3805 4822

Henry Wallers


Jack Gault


 

IMPORTANT NOTICE

Jefferies International Limited ("Jefferies"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting solely for the Company, and for no-one else, as broker in connection with the matters referred to in this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice to any other person in relation to the content of this announcement or any other matters described in this announcement. To the fullest extent permitted by law, neither Jefferies nor any of its affiliates assumes any responsibility whatsoever for or makes any representation or warranty express or implied, in relation to the contents of this announcement, including its accuracy, completeness or verification or for any other statement made or purported to be made by it, or on its behalf and nothing contained in this announcement is, or shall be, relied upon as a promise or representation in this respect whether as to the past, present or future, in connection with the Company, the Group, or the matters referred to in this announcement. Jefferies and its affiliates accordingly disclaims to the fullest extent permitted by law all and any duty, responsibility and liability whether arising in tort, contract or otherwise which it might otherwise be found to have in respect of this announcement or any such statement or otherwise.

 

This announcement is not intended to, and does not constitute, or form part of, any offer to sell or an invitation to purchase or subscribe for any securities in any jurisdiction.

 

This announcement has been prepared for the purpose of complying with the applicable law and regulation of the United Kingdom and information disclosed may not be the same as that which would have been disclosed if this announcement has been prepared in accordance with the laws and regulations of jurisdictions outside the United Kingdom.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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