Fifth Return of Capital (8165B)
February 24 2011 - 9:19AM
UK Regulatory
TIDMAVC
RNS Number : 8165B
Aberdeen Development Capital PLC
24 February 2011
Aberdeen Development Capital PLC, ADC Zeros 2010 PLC and ADC
Zeros 2012 PLC
24 February 2011
Fifth Return of Capital
Following receipt of GBP395,000 from HMRC in respect of interest
on VAT reclaimed on historic investment management fees, in
addition to other receipts outlined in the half-yearly financial
report, the Boards of ADC Zeros 2010 PLC and ADC Zeros 2012 PLC
announce a fifth capital return under the Capital Return Scheme,
which was approved by Shareholders at Extraordinary General
Meetings held on 3 August 2007, of:
-- 10p per 2010 ZDP Share; and
-- 10p per 2012 ZDP Share.
This capital return, amounting to approximately GBP1.5 million
in aggregate, will be paid on 11 March 2011 to ZDP Shareholders on
the registers at the close of business on 4 March 2011 (the
ex-return date being 2 March 2011). Following payment of this
capital return, a total of 98.6p per ZDP Share will have been
returned to ZDP Shareholders compared with an issue price of 100p
per share.
In accordance with the terms of the Capital Return Scheme, the
capital entitlements of the ZDPs will be adjusted on 11 March 2011
by deducting from the accrued capital entitlement per ZDP at that
date (being 39.19p) the amount of the capital returned per ZDP
referred to above (being 10p). Accordingly, on 11 March 2011 the
accrued capital entitlement per ZDP Share will be reduced from
39.19p to 29.19p and, thereafter, the capital entitlement per ZDP
will continue to accrue at the rate of 6.5 per cent. per annum,
based on the reduced capital entitlement of 29.19p as at 11 March
2011. On that basis, the final capital entitlement per ZDP Share on
30 April 2012 will be 31.36p.
The Board of Aberdeen Development Capital PLC confirms that, as
approved by Shareholders at General Meetings held on 25 March 2010
and 6 April 2010, no return of capital will be made to Ordinary
Shareholders under the Capital Return Scheme until such time as the
accrued capital entitlement of the ZDP Shares has been paid in
full.
The Board will continue to monitor liquidity and return capital
to Shareholders as circumstances allow.
Enquiries
Aberdeen Asset Management
Hugh Little/Derek Gault PLC 01224 631999
Sue Inglis/Chris Whittingslow Canaccord Genuity Limited 020 7050 6779
020 7050 6528
Note
Unless the context otherwise requires, terms used in this
announcement shall bear the meanings given to them in the circulars
to the Companies' shareholders dated 11 July 2007 and 2 March
2010.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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