2011 Interim Dividend- Scrip Alternative

RNS Number : 9113Q

Costain Group PLC

27 October 2011

 



COSTAIN GROUP PLC

("Costain")

2011 Interim Dividend - Scrip Alternative

Costain announces that, following approval by shareholders at the Company's 2008 AGM of the scrip dividend scheme, elections have been made by shareholders to receive 43,377 ordinary shares of 50p each in the Company ("Shares") in lieu of cash in respect of all or part of their interim dividend for the year ended 31 December 2011 ("Interim Dividend"), which is to be paid on 28 October 2011.

The Scrip Dividend Reference Price for the fully paid shares in the Company to be issued to shareholders who elected to receive the scrip dividend alternative for the Interim Dividend is 222.95 pence per ordinary share of 50 pence each. 

The Scrip Reference Price was calculated in the usual way as the average of the middle market quotations for the Company's ordinary shares as derived from the Daily Official List of the London Stock Exchange for the five business days commencing on 21 September 2011.

Application has therefore been made for the admission ("Admission") of 43,377 new Shares to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's market for listed securities. The new Shares will rank pari passu with the Company's existing issued Shares and dealings are expected to commence on Friday 28 October 2011.

The resultant interest, upon Admission, of the Director who has elected to receive the Interim Dividend in the form of shares is set out below:

Director	Shares to be received under scrip dividend elections	Resultant interest in Shares (at Admission)	% of issued Shares (at Admission)
Michael Alexander	138	12,220	0.018%

27 October 2011

ENQUIRIES:
Costain Group PLC	Tel: [phone]
Tracey Wood, Company Secretary
College Hill	Tel: [phone]
Mark Garraway
Helen Tarbet

 

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