Scrip Dividend Alternative

RNS Number : 7887Z

Livermore Investments Group Limited

24 July 2008

 



24 July 2008

Livermore Investments Group Limited ('Livermore' or 'the Company')

Scrip Dividend Alternative

On 2 May 2008 Livermore announced its final results for the financial year to 31 December 2007 and its directors recommended a final dividend of US 3.5 cents per ordinary share in the share capital of the Company ('2007 Final Dividend'). On 24 June 2008, the Company announced that, subject to shareholder approval, it intended to offer its shareholders the alternative of a scrip dividend for the 2007 Final Dividend ('Scrip Dividend Alternative').

Yesterday Livermore posted a circular to its shareholders ('the Circular') containing details of the terms of and election process for the Scrip Dividend Alternative and convening an extraordinary general meeting to be held on 12 August 2008 to seek approval to offer scrip dividends and to declare the 2007 Final Dividend.

Conditional on the requisite shareholder approvals, shareholders may elect to receive new ordinary shares instead of cash for the 2007 Final Dividend on the basis of one new share for every 14.34 shares held as at close of business on 18 July 2008. The scrip dividend ratio has been calculated on the basis of (i) the price of 25.15p which was the average middle market quotation for the Company's ordinary shares as derived from the AIM Appendix to the Daily Official List on the day on which the Shares were first quoted 'ex' the 2007 Final Dividend (16 July 2008) and the four subsequent dealing days and (ii) the Sterling equivalent of a dividend of US 3.5 cents per ordinary share converted from American Dollars (at a conversion rate of £1 per US$1.996 set by reference to Bloomberg at 4.30 p.m. on 18 July 2008).

Any shareholders who wish to participate in the Scrip Dividend Alternative should refer to the details set out in the Circular and the form of election posted with it. 

A copy of the Circular, together with accompanying ancillary documents, is available on the Company's website: http://www.livermore-inv.com 

Enquiries:

Livermore 

Doron Yassur 

[phone] 

Hudson Sandler 

Jessica Rouleau / Fran Read 

[phone] 

Numis Securities 

Nominated Adviser: Jag Mundi

Corporate Broking: Alex Ham

[phone] 

 

END

 

 

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