Introduction of Dividend

RNS Number : 2806W

CLS Holdings PLC

08 February 2017

 

CLS Holdings plc

("CLS", the "Company", the "Group")

announces introduction of dividend

and proposed share sub-division

CLS Holdings plc announces that it intends to make future distributions to shareholders by way of a twice yearly dividend; this supersedes its previous policy of using tender offer buy-backs.  It is intended that the first dividend will be a final dividend in respect of the year ended 31 December 2016 and announced with the Group's full year results which is expected to be on Wednesday 8 March 2017.

In addition, at its Annual General Meeting ("AGM") on 26 April 2017, the Board will recommend a share sub-division of its existing ordinary shares of 25p each into 10 new ordinary shares of 2.5 pence each. Further details of the share sub-division will be set out in the Notice of AGM to be circulated to shareholders on or around 22 March 2017.  If approved, the share sub-division will take place following the payment of the final dividend.

Fredrik Widlund, Chief Executive of CLS, commented:

"We believe that these changes will make CLS more easily comparable with other listed property companies and a more attractive investment proposition for new shareholders, with the aim of improving liquidity in the Group's shares and broadening the shareholder base."

This announcement contains inside information.

-ends-

For further information, please contact:

CLS Holdings plc                                                                             www.clsholdings.com Fredrik Widlund, Chief Executive Officer John Whiteley, Chief Financial Officer	[phone]
Liberum Capital Limited Richard Crawley Jamie Richards	[phone]
Panmure Gordon (UK) Limited Dominic Morley Andrew Potts	[phone]
Elm Square Advisers Limited                                                          Jonathan Gray	[phone]
Smithfield Consultants (Financial PR)                                             Alex Simmons	[phone]

 

END

 

 

DIVTRMPTMBAMBFR