TIDMRDW
RNS Number : 3428V
Redrow PLC
08 April 2019
8 April 2019
Redrow plc ("Redrow")
Return of Cash: Issue of B Shares, Share Consolidation and Total
Voting Rights
Further to the publication on 7 March 2019 of the explanatory
circular regarding the B Share Scheme and the Share Consolidation
(the "Circular"), and the passing of all the required resolutions
at Redrow's General Meeting on 27 March 2019, Redrow announces that
the allotment and issue of 369,799,941 B Shares relating to the B
Share Scheme (there being 369,799,941 Existing Ordinary Shares in
issue at the Record Time) will occur today.
No application has been, or will be, made to the FCA or to the
LSE, respectively, for any of the B Shares to be admitted to the
Official List or to trading on the LSE's main market for listed
securities, nor will the B Shares be listed or admitted to trading
on any other recognised investment exchange.
No share certificates will be issued in respect of the B Shares
and no CREST accounts will be credited with B Shares.
As set out in the Circular, it is expected that Barclays Bank
PLC (or a subsidiary thereof) ("Barclays") (acting as principal,
and not as agent, nominee or trustee for Redrow) will make an offer
to purchase all of the B Shares for an amount of 30 pence per B
Share (free of all expenses and commissions) tomorrow, 9 April
2019. Each of the Directors and the Company Secretary of Redrow are
irrevocably authorised (on behalf of holders of the B Shares) to
accept the B Share Purchase Offer and no holders of B Shares are
separately able to accept or reject the B Share Purchase Offer. It
is expected that a further announcement will be made tomorrow
regarding the B Share Purchase Offer.
Share Consolidation
With effect from 8.00 a.m. today, 8 April 2019, the New Ordinary
Shares will be admitted to the premium listing segment of the
Official List of the FCA and to trading on the main market of the
LSE. Share certificates in respect of Existing Ordinary Shares will
cease to be valid. It is expected that by 16 April 2019, the
Company will despatch share certificates in respect of New Ordinary
Shares to those Shareholders who held their Existing Ordinary
Shares in certificated form. Until such time Shareholders should
retain any share certificate(s) they currently hold in respect of
Existing Ordinary Shares for record purposes only. No share
certificates will be issued in respect of the B Shares.
Shareholders who held their Existing Ordinary Shares in CREST
will have the New Ordinary Shares to which they are entitled
automatically credited to their CREST accounts at approximately
8.00 a.m. today (or as soon as possible thereafter).
Total Voting Rights
Following the completion of the Share Consolidation at 8:00 a.m.
today and in accordance with the FCA's Disclosure Guidance and
Transparency Rule 5.6.1R, Redrow hereby notifies the market that as
of 8 April 2019, Redrow's issued share capital consists of
352,190,420 New Ordinary Shares with voting rights and 369,799,941
B Shares with no voting rights (except at a shareholder general
meeting of Redrow on a resolution to consider a winding-up of
Redrow (excluding any intra-group reorganisation on a solvent
basis)).
There are no New Ordinary Shares held in Treasury.
The above figure (352,190,420) may be used by Shareholders (and
others with notification obligations) as the denominator for the
calculation by which they will determine if they are required to
notify their interest in, or a change to their interest in, Redrow
under the FCA's Disclosure Guidance and Transparency Rules.
Important Notices
Capitalised terms used in this announcement which are not
otherwise defined in this announcement have the same meaning as in
the Circular, which is available at
http://www.morningstar.co.uk/uk/NSM and on the Redrow's website at
www.redrowplc.co.uk. All references to time in this announcement
are to London time.
The release, publication or distribution of this announcement
into jurisdictions other than the United Kingdom may be restricted
by law and therefore any persons who are subject to the law of any
jurisdiction other than the United Kingdom should inform themselves
about, and observe, any such restrictions.
Barclays, which is authorised by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and
Prudential Regulation Authority in the United Kingdom, is acting
exclusively for Redrow and for no one else in connection with the
matters referred to in this announcement and will not be
responsible to anyone other than Redrow for providing the
protections afforded to its clients or for providing advice in
relation to the matters referred to in this announcement. Neither
Barclays, nor any of its affiliates, owes or accepts any duty,
liability or responsibility whatsoever (whether direct or indirect,
whether in contract, in tort, under statute or otherwise) to any
person who is not a client of Barclays in connection with this
announcement, any statement contained herein or otherwise.
This announcement does not constitute or form part of any offer
or invitation to purchase, otherwise acquire, subscribe for, sell,
otherwise dispose of or issue, or any solicitation of any offer to
sell, otherwise dispose of, issue, purchase, otherwise acquire or
subscribe for, any security. This announcement does not constitute
an invitation to participate in the B Share Scheme in or from any
jurisdiction in or from which, or to or from whom, it is unlawful
to make such offer under applicable securities laws or otherwise or
where such offer would require a prospectus to be published.
Neither this announcement, nor any other document issued in
connection with the proposed return of cash to Shareholders, may be
issued or distributed to any person except under circumstances
which do not constitute an offer to the public under applicable
securities laws.
LEI Number:
2138008WJZBBA7EYEL28
Announcement Classification:
2.5: Total number of voting rights and capital
3.1: Additional regulated information required to be disclosed
under the laws of a Member State
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
CARUVOVRKUASRAR
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