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McBride PLC - Redemption of B Shares

RNS Number : 9790L
McBride PLC
05 May 2020
 

5 May 2020

 

McBride plc

 

Redemption of B Shares

 

McBride plc (the "Company"), the leading European manufacturer and supplier of Contract Manufactured and Private Label products for the domestic Household and professional cleaning and hygiene markets, today provides the following update.

 

As announced by the Company on 25 March 2020, as part of its prudent management of cash resources the Company has cancelled the May 2020 interim dividend. However, shareholders will still be able to redeem B shares for cash.

 

The Company offers to redeem any or all of the B shares already allotted and in issue as set out below.

 

The period during which holders of B shares may elect to redeem their B shares will be the period commencing on Wednesday 6th May 2020 and ending at 1pm on Wednesday 10th June 2020 ("the Redemption Period"). 

 

Certificated shareholders will need to complete the form on the reverse of their B Share certificate and return it to the Company's Registrar, Link Asset Services at The Registry, 34 Beckenham Road, Beckenham, Kent, BR3 4TU. Provided the completed certificate is received within the Redemption Period, the shares will be redeemed at 0.1 pence per share on Thursday 25th June 2020 ("the Redemption Date") . CREST participants who wish to redeem will be required to send the appropriate message through the CREST system within the Redemption Period.

 

The Company shall redeem any B shares in respect of which acceptances have been received during the Redemption Period from holders of B shares, on the Redemption Date.  The Company will not redeem any B shares in respect of which acceptances are received at any time after the Redemption Period.  A redemption notice once lodged may not be withdrawn without the written consent of the Company.

 

Full details of the B Shares can be found in the Notice and Circular for General Meeting held on 24 March 2011 and in the booklet entitled 'Your Guide to B Shares', both of which can be accessed through the 'Shareholder Help' tab of the 'Investors' section of the Company's website at www.mcbride.co.uk.

 

 

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Quick facts: McBride PLC

Price: 61

Market: LSE
Market Cap: £111.51 m
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