Scrip Reference Price

RNS Number : 1266I

ITE Group PLC

15 June 2017

 

15 June 2017

ITE Group plc ("Company") - ANNOUNCEMENT OF SCRIP REFERENCE PRICE

At the Company's Annual General Meeting held on 28 January 2016, shareholders granted the Company authority to introduce a SCRIP Dividend Scheme (the "Scheme"). The Scheme provides shareholders with the opportunity to elect to receive ordinary shares in the capital of the Company for every cash dividend entitlement where the Scheme is offered.

As announced on 16 May 2017, the board of directors of the Company approved an interim dividend for the six months ended 31 March 2017 of 1.5 pence per ordinary share payable on 3 August 2017 ("Interim Dividend").

In relation to the Interim Dividend, the Company invites shareholders, on the register on 9 June 2017 to participate in the Scheme and is offering those shareholders the opportunity to receive ordinary shares of 1 pence each in the Company, ranking equally with the existing issued ordinary shares, in place of cash dividends for Interim Dividend ("SCRIP Dividend Alternative").

The SCRIP reference share price for the fully paid ordinary shares to be issued to shareholders electing to receive the SCRIP Dividend Alternative is 154.35 pence per ordinary share. The SCRIP reference share price is calculated as the average of the closing middle market quotation for the Company's ordinary shares, derived from the London Stock Exchange Daily Official List, for the five consecutive dealing days from 8 June 2017 to 14 June 2017 (inclusive).

It is optional to join the Scheme and the Scheme's terms and conditions, how to join the Scheme and further information are available at www.ite-exhibitions.com/scrip

The deadline for applications to elect to receive the SCRIP Dividend Alternative for this Interim Dividend is 4:30pm (UK time) on 13 July 2017. Shareholders may join the Scheme after this date, but it will only apply to future relevant dividends.

The SCRIP Dividend Alternative timetable for the Interim Dividend is as follows:

Interim dividend amount declared - 1.5p per ordinary share	16 May 2017
Ex-dividend date	8 June 2017
Record date	9 June 2017
SCRIP reference share price calculation period	8 June to 14 June 2017
SCRIP reference share price announced	15 June 2017
SCRIP dividend election deadline for this Interim Dividend	13 July 2017
Interim Dividend payment date	3 August 2017

Further queries about the Scheme should be directed to the ITE Group plc Shareholder helpline on 0371 384 2030 (UK) or [phone] (outside the UK).

Contact:

Anneka Kingan, Group Company Secretary  

[e-mail]

[phone]

 

END

 

 

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