Betfair Group PLC Return of Cash: Completion and B Share Dividend (9386C)

TIDMBET

RNS Number : 9386C

Betfair Group PLC

23 January 2015

Betfair Group plc

Return of Cash: Completion of Purchase Offer and declaration of B Share Dividend

Following the approval of the Return of Cash by Shareholders on 9 January 2015, Betfair Group plc (the "Company") today provides an update in respect of the Return of Cash as described in the circular to Shareholders dated 12 December 2014 (the "Circular").

Completion of the Purchase Offer

As announced yesterday, elections to accept the Purchase Offer made by Jefferies International Limited ("Jefferies") were received in respect of 34,622,872 B Shares, representing approximately 32.8 per cent. of the B Shares in issue. These B Shares have been purchased by Jefferies, acting as principal (and not as agent, nominee or trustee) from the relevant Shareholders for an amount equal to GBP1.89 per B Share, free of all dealing expenses and commissions.

B Share Dividend

The Board of Directors of the Company announces that it has today declared the B Share Dividend of GBP1.89 per B Share payable to those holders of B Shares who were on the B Share register of members at 6.00 p.m. yesterday, 22 January 2015.

In accordance with the Articles of Association of the Company, following the declaration of the B Share Dividend all B Shares have been converted into Deferred Shares. The Deferred Shares will not be listed and will, in practice, have no economic or other rights.

Payments to Shareholders

On 27 January 2015: (i) cheques are expected to be despatched and payments made through CREST to the relevant Shareholders in respect of B Shares purchased under the Purchase Offer; and (ii) cheques are expected to be despatched and BACS payments released to the relevant Shareholders in respect of the B Share Dividend.

Unless otherwise defined, capitalised terms used in this announcement have the same meaning as those defined in the Circular, which can be viewed on the Company's website at corporate.betfair.com.

Enquiries:

Betfair Group plc

Claire Baty, Deputy Company Secretary

Tel: +44 208 834 6150

Jefferies International Limited

Neil Collingridge

Max Jones

Tel: +44 (0)20 7029 8000

Computershare Shareholder Helpline

Tel: 0870 707 4010 (or +44 (0)870 707 4010 if calling from outside the United Kingdom)

The Shareholder helpline is available between 8.30 a.m. and 5.30 p.m. on any Business Day. Calls to 0870 707 4010 are charged at 10 pence per minute plus network extras. Calls to +44 (0)870 707 4010 from outside the United Kingdom are charged at applicable international rates. Please note that calls may be monitored or recorded and that Computershare will not provide advice on the merits of the Return of Cash nor give any financial or tax advice.

Cautionary statements

Jefferies International Limited is acting exclusively for the Company and no-one else in connection with the Return of Cash and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Jefferies International Limited or for providing advice in relation to the Return of Cash or in relation to the contents of this announcement or any transaction or other matter referred to herein.

This announcement does not constitute, or form part of, an offer to sell or the solicitation of an offer to subscribe for any securities, nor the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issue or transfer of the securities referred to in this announcement in any jurisdiction in contravention of applicable law.

None of the B Shares, Deferred Shares or the New Ordinary Shares have been or will be registered under the United States Securities Act of 1933 or the state securities laws of the United States and none of them may be offered or sold in the United States unless pursuant to a transaction that has been registered under the United States Securities Act of 1933 and the relevant state securities laws or a transaction that is not subject to the registration requirements of the United States Securities Act of 1933 and the state securities laws, either due to an exemption therefrom or otherwise.

None of the B Shares, Deferred Shares, New Ordinary Shares or this announcement has been approved, disapproved or otherwise recommended by any US federal or state securities commission or other regulatory authority or any non-US securities commission or regulatory authority nor have such authorities passed upon or endorsed the merits of this offering or confirmed the accuracy or determined the adequacy of this document. Any representation to the contrary is a criminal offence in the United States.

This announcement has been issued by, and is the sole responsibility of, the Company.

The release, publication or distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by law and, therefore, any persons who are subject to the laws of any jurisdiction other than the United Kingdom should inform themselves about, and observe, any applicable requirements.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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