Scrip Dividend - calculation price

RNS Number : 9427V

ConvaTec Group PLC

11 April 2019

 

Scrip Dividend - calculation price

Reading, United Kingdom (11 April 2019)

On 12 February 2019, the Board of Directors of ConvaTec Group Plc ("ConvaTec" or "the Company") proposed a final dividend of 3.983 cents per share (the "final dividend") subject to shareholder approval at the Annual General Meeting on 9 May 2019. This final dividend is to be paid on 16 May 2019 to shareholders on the share register as at 5 April 2019 ("record date"). The dividend is payable in cash in sterling to holders of ordinary shares, the chosen exchange rate for this payment is $1.286/£1.00, giving a total sterling dividend of £60,895,787. On 14 February 2019, the Company announced that a scrip dividend will be made available for this final dividend allowing shareholders to elect to receive their dividend in the form of new ordinary shares.

The "Calculation Price" for the issue of new ordinary shares under the scrip dividend scheme is:

137.28 pence for each new ordinary share

This is equivalent to 1 new share for approximately 44.32 shares held prior to the ex-dividend date of

4 April 2019

The Calculation Price is the average of the middle market quotations of a ConvaTec share, derived from the London Stock Exchange Daily Official List, for the five consecutive business days from 4 April to 10 April 2019 (inclusive).

The latest date for receipt of elections to participate in the scrip dividend scheme for this final dividend is 23 April 2019. Shareholders must return their mandate form by 5pm (London time) or otherwise input their CREST elections to be received by the Company's registrar, Computershare, by 3pm (London time) on 23 April 2019. Elections received after this deadline will apply to subsequent dividends only. Unless revoked by you, your scrip dividend election will apply for all future dividends for which a scrip dividend is offered. Evergreen elections for CREST shareholders cannot be accepted and elections will revert to cash by default after the payment of each dividend.

Details of the scrip dividend scheme are available at www.convatecgroup.com/investors.

TIMETABLE

Key dates in respect of the scrip dividend scheme for the final dividend are:

Ex-dividend Date	4 April 2019
Record Date	5 April 2019
Scrip calculation price determined	4-10 April 2019 (inclusive)
Scrip calculation price available and announced	11 April 2019
Mandate delivery deadline for Shares held in uncertificated form	3.00 p.m. on 23 April 2019
Mandate delivery deadline for Shares held in certificated form	5.00 p.m. on 23 April 2019
Announcement of the total amount of new shares to be issued	29 April 2019
Dividend payment date	16 May 2019
Dispatch of statement in accordance with section 7 of Scheme Rules and share certificates, CREST accounts credited/updated, and first day of dealings in New Shares	16 May 2019

Enquiries

Media

Bobby Leach, VP Group Corporate Affairs, ConvaTec                    [phone]

Alastair Elwen, Finsbury                                                                   [phone]

Analysts and Investors

John Crosse, VP Investor Relations, ConvaTec                              [phone]

Mark Reynolds, Director Investor Relations, ConvaTec                  [phone]

[e-mail]

LEI:   213800LS272L4FIDOH92

About ConvaTec

ConvaTec is a global medical products and technologies company focused on therapies for the management of chronic conditions, with leading market positions in advanced wound care, ostomy care, continence and critical care, and infusion devices. ConvaTec's products provide a range of clinical and economic benefits including infection prevention, protection of at-risk skin, improved patient outcomes and reduced total cost of care. To learn more about ConvaTec, please visit www.convatecgroup.com where a copy of this announcement can also be found.

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