Unitech Corporate Parks Plc Confirmation of Initial Cash Return (4138B)

TIDMUCP

RNS Number : 4138B

Unitech Corporate Parks Plc

07 January 2015

UNITECH CORPORATE PARKS PLC

(the "Company")

Confirmation of Initial Cash Return

The Company published a circular on 28 November 2014 (the 'Circular') setting out details of a proposed Initial Cash Return by way of a B Share Scheme and stated that the Initial Cash Return was expected to amount to 49.25 pence per Ordinary Share. Since the Company was responsible for claims pursuant to the Disposal Agreement for periods of up to 60 days from Completion, the Circular stated that the Company would today confirm to Shareholders the amount of the Initial Cash Return. Since no claims in relation to the Disposal Agreement have been received, the Board of the Company is pleased to announce that the amount of the Initial Cash Return to Shareholders will be 49.25 pence per Ordinary Share, as set out in the Circular.

As announced on 22 December 2014, the Initial Cash Return by way of a B Share Scheme was approved by Shareholders at the Extraordinary General Meeting and accordingly it is expected that the B Shares will be issued to Shareholders and the Initial Cash Return will be completed by 16 January 2015. The expected timetable of events, as previously announced, is set out below.

EXPECTED TIMETABLE OF EVENTS

 
 Shares marked 'ex' by the London Stock       8.00am on 7 January 
  Exchange                                                   2015 
 Latest time for receipt of Forms of          1.00pm on 8 January 
  Election from certificated Shareholders                    2015 
  and TTE Instruction from CREST holders 
  in relation to the B Share Alternatives 
 Record Date for participation in the         5.00pm on 8 January 
  Initial Cash Return                                        2015 
 B Shares issued to Shareholders                   9 January 2015 
 
 Option 1: B Share Dividend 
 B Share Dividend Date                             9 January 2015 
 B Shares in respect of which the B                9 January 2015 
  Share Dividend is payable convert 
  into Deferred Shares 
 Dispatch of cheques or CREST accounts         by 16 January 2015 
  credited (as appropriate) in respect 
  of the B Share Dividend 
 Redemption of Deferred Shares                    19 January 2015 
 
 Option 2: B Share Purchase Offer 
 B Share Purchase Date                             9 January 2015 
 Dispatch of cheques or CREST accounts         by 16 January 2015 
  credited (as appropriate) in respect 
  of the B Shares purchased 
 

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

For further information please contact:

 
 Westhouse Securities Limited          Tel: [phone] 
 Alastair Moreton 
                                      ------------------------- 
 
 IOMA Fund and Investment Management   Tel: [phone] 
  Limited 
                                      ------------------------- 
 Philip Scales 
                                      ------------------------- 
 Graham Smith 
                                      ------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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