Results of Elections

RNS Number : 7427I

De La Rue PLC

24 November 2008

 



De La Rue plc

24 November 2008

24 November 2008

De La Rue plc ('De La Rue' or the 'Company')

RETURN OF CASH - RESULTS OF ELECTIONS 

The terms of the Return of Cash, which was approved by Shareholders at the Extraordinary General Meeting held on 14 November 2008, provide Shareholders (other than Excluded Shareholders) a choice between receiving the Return of Cash in the form of income (the Single B Share Dividend) or capital (the Purchase Offer).

Elections (including deemed elections) to receive the Single B Share Dividend were made in respect of 111,673,300 B Shares, representing 74.06 per cent. of the issued B Shares, and elections to accept the Purchase Offer were received in respect of 39,101,452 B Shares, representing 25.93 per cent. of the issued B Shares (Note 1).

It is expected that on 25 November 2008 De La Rue will declare the Single B Share Dividend of 305 pence per B Share payable on those shares in respect of which valid elections for the Single B Share Dividend have been received (or deemed to have been received).

It is also expected that JPMorgan Cazenove, acting as principal, will, on 25 November 2008, make the Purchase Offer to purchase 39,101,452 B Shares in respect of which valid elections for the Purchase Offer have been received from Shareholders (Note 1). 

Settlement of the Single B Share Dividend and the Purchase Offer is expected to be made on 28 November 2008.

Note 1. The making of the Purchase Offer by JPMorgan Cazenove remains conditional upon the satisfaction or (where applicable) waiver by JPMorgan Cazenove of the conditions to the Purchase Offer, details of which are set out in the circular to shareholders dated 21 October 2008 (the 'Circular'). In addition, the number of B Shares in respect of which the Purchase Offer may be made is subject to the Purchase Offer Limit. The number of B Shares to be purchased (as set out above) may therefore be scaled back in accordance with the terms of the Purchase Offer. In the event that such scale back occurs, details of the aggregate amount of any such reduction will be included in the Purchase Offer announcement which is expected to be made tomorrow, 25 November 2008.

Definitions used in the Circular shall have the same meaning when used in this announcement. 

Enquiries:

De La Rue [phone]

Leo Quinn, Chief Executive

Stephen King, Finance Director

Gary Williams, Head of Corporate Affairs

Financial Dynamics [phone]

Richard Mountain

Rothschild [phone]  

Crispin Wright

Stuart Vincent

JPMorgan Cazenove [phone]

Michael Wentworth Stanley

Dermot McKechnie 

JPMorgan Cazenove Limited is authorised and regulated in the United Kingdom for the conduct of investment business by the Financial Services Authority and is acting exclusively for De La Rue and no-one else in connection with the Return of Cash and will not be responsible to anyone other than De La Rue for providing the protections afforded to clients of JPMorgan Cazenove Limited, or for providing advice in relation to the Return of Cash.

NM Rothschild & Sons Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting for De La Rue and no one else in connection with the matters referred to in this announcement and will not be responsible to any person other than De La Rue for providing the protections afforded to clients of NM Rothschild & Sons Limited, or for providing advice in relation to the Return of Cash.

 

END

 

 

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