Annual Financial Report

RNS Number : 2020K

Paddy Power plc

14 April 2015

 



PADDY POWER PLC (the "Company")

14 April 2015

2014 Annual Report and Shareholder Circular

The Company has today posted to shareholders:

·     the 2014 Annual Report;

·     a Shareholder Circular, including Notice of 2015 Annual General Meeting and full details of the proposed return to shareholders of approximately €392 million (the "Return of Cash"); and

·     a Form of Proxy,

(together "the Documents").

The Documents will be available at approximately 8:00 a.m. tomorrow to view on the Company's website, www.paddypowerplc.com/investors/agm-information.

Summary of the Return of Cash

·           The Return of Cash is subject to the approval of shareholders at the Annual General Meeting of the Company to be held at 11.00 a.m. on 14 May 2015.

·           The Return of Cash amounts to €8.00 per existing ordinary share and, if approved, will be implemented by way of a B share scheme giving certain shareholders the ability to elect for a capital or income option.  Shareholders in certain restricted territories and shareholders who fail to make an election will be deemed to have elected for the capital option.

·           A share consolidation of 9 new ordinary shares for every 10 existing ordinary shares will also be implemented as part of the Return of Cash in order to maintain comparability in the market share price before and after the Return of Cash.

Copies of the Documents will be submitted to the Irish Stock Exchange and the UK National Storage Mechanism The Documents will therefore be available for inspection at http://www.morningstar.co.uk/uk/NSM and at the following address:

Companies Announcements Office

The Irish Stock Exchange

28 Anglesea Street

Dublin 2

Tel: [phone]

Enquiries:

Jack Massey

Director of Investor Relations & Company Secretary

Tel: [phone]

 

END

 

 

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