RapidCloud International PLC Interim Dividend and Notice of GM (2036E)

TIDMRCI

RNS Number : 2036E

RapidCloud International PLC

02 November 2015

RapidCloud International Plc

("RapidCloud", the "Company" or the "Group")

Interim Dividend, Reverse Scrip Dividend Scheme and Notice of GM

RapidCloud International plc (AIM:RCI), the computing services, web-hosting and web-solutions provider based in Southeast Asia, is pleased to announce a proposed interim dividend of GBP0.0067 per share. In addition, the Company intends to implement a scheme to allow Shareholders to elect to receive their dividends, both now and for the next five years, in either cash or shares in the Company. This will implemented by way of a Reverse Scrip Dividend scheme.

Consequently, the Company has today posted to Shareholders of the Company a circular and notice of General Meeting (together the "Circular"), to be held at 4 p.m. MY / 8 a.m. BST on 18 November 2015 at the offices of RapidCloud International Plc at B-9-9, Capital 2, Oasis Square, No.2, Jalan PJU 1A/7A, Ara Damansara, 47301 Petaling Jaya, Selangor, Malaysia.

The General Meeting has been called to ask Shareholders to approve the payment of the interim dividend of GBP0.0067 per Ordinary Share for the financial period ended 31 December 2014, and to ask Shareholders to approve the implementation of the Reverse Scrip Dividend Scheme, whereby Shareholders will by default receive new Ordinary Shares credited as fully paid instead of cash, in respect of all dividends offered by the Company for the duration of the scheme. If Shareholders wish to instead receive their dividends as cash, they should submit a Cash Dividend Election form as explained in the Circular.

Raymond Chee, the Company's Managing Director, commented:

"I am delighted that the Company is paying a dividend and offering this through way of a reverse scrip dividend scheme. This scheme gives our shareholders the opportunity to choose their preferred method of receiving the dividend, allowing shareholders to meet their own objectives. The portion of the dividend that is taken by our shareholders via scrip will preserve cash for the Company, which will be used to continue the Company's growth and expansion.

"I also understand that all Directors who are shareholders (representing approximately 55% of the issued share capital) will be electing to take their dividend as scrip rather than cash."

A copy of the Circular will be made available on the Company's website later today.

The timetable for the proposed Reverse Scrip Dividend Scheme is as follows:

 
 2 November 2015    Announcement of proposed Reverse 
                     Scrip Dividend Scheme and 
                     Interim Dividend 
 26 November 2015   Ordinary Shares quoted "ex" 
                     dividend 
 27 November 2015   Record date for dividend 
 11 December 2015   Final date for receipt of 
                     Cash Dividend Elections 
 24 December 2015   Posting of cheques and tax 
                     vouchers 
 29 December 2015   Payment of dividend / share 
                     allotment, and posting of 
                     share certificates and statements 
 29 December 2015   First day of dealing in the 
                     new Ordinary Shares 
 

CONTACTS

 
RapidCloud International     [e-mail] 
 Plc 
Raymond Chee, Managing 
 Director 
 David Cotterell, Chairman 
WH Ireland, Nominated       Tel:[phone] 
 Adviser and Broker 
Adrian Hadden 
 Mark Leonard 
Walbrook, Financial PR      Tel: [phone] 
 and IR 
Paul Cornelius              [e-mail] 
 Sam Allen 
 

For further information, please visit www.rapidcloudasia.com

This information is provided by RNS

The company news service from the London Stock Exchange

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November 02, 2015 06:54 ET (11:54 GMT)