Plastics Capital PLC Result of Scrip Dividend Alternative (7480U)
January 20 2017 - 6:43AM
UK Regulatory
TIDMPLA
RNS Number : 7480U
Plastics Capital PLC
20 January 2017
Plastics Capital plc
(the "Company" or the "Group")
Result of Scrip Dividend Alternative
Further to the Company's announcements on 5 December and 29
December 2016, Plastics Capital (AIM: PLA), the niche plastics
products group, announces that it has received final valid
elections for the Scrip Dividend Alternative in respect of
9,135,603 existing ordinary shares of 1p each in the capital of the
Company. This figure represents approximately 25.6 per cent. of the
Company's issued ordinary share capital.
Accordingly, based on the previously announced reference price
of 121.6p per share and the interim dividend of 1.46p per share, a
total of 109,683 new ordinary shares of 1p each will be allotted by
the Company ("New Shares") to shareholders who elected to receive
the Scrip Dividend Alternative. It is expected that the New Shares
will be issued and credited to CREST accounts on the payment date
of 1 February 2017.
Application will be made to AIM for the New Shares to be
admitted to trading on AIM on 1 February 2017 ("Admission").
Following Admission, the Company will have 35,750,706 ordinary
shares in issue admitted to trading on AIM. Following Admission,
this figure, 35,750,706 may be used by shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the Company under the FCA's Disclosure and
Transparency Rules.
Plastics Capital Tel: 020 7978 0574
plc
Faisal Rahmatallah,
Chairman
Nick Ball, Finance
Director
Cenkos Securities Tel: 020 7397 8900
(Nomad and joint
broker)
Mark Connelly
Callum Davidson
Allenby Capital Limited Tel: 020 3328 5656
(Joint broker)
David Hart
Katrina Perez
Walbrook PR Ltd Tel: 020 7933 8780/plastics@walbrookpr.com
Paul Cornelius Mob: 07866 384 707
Helen Cresswell Mob: 07841 917 679
Notes to Editors
Plastics Capital is a niche manufacturer of specialist plastic
products. Applications for these products vary widely and examples
include:
-- Packaging for the food manufacturing and distribution - films, sacks and pouches
-- Steering columns and instrument control knobs in the
automotive industry - plastic ball bearings
-- Hydraulic and industrial rubber hose manufacture - various types of plastic mandrel
-- Cardboard box manufacture - plastic creasing matrices
Plastics Capital's business model is based on understanding
customers' problems in depth, and then developing and mass
producing proprietary, technical solutions for these problems.
The business operates through two divisions, Films and
Industrial, and has the majority of its production in six UK based
factories, with a further three factories in Asia. Approximately
40% of its GBP55 million sales are made outside the UK to more than
80 countries.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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