Scrip/Final Dividend Update

RNS Number : 3522C

Phoenix Group Holdings

30 April 2012

 



PHOENIX GROUP HOLDINGS

2011 Scrip / Final Dividend Update

Phoenix Group Holdings (the 'Company') announces that it has received from its Shareholders scrip dividend elections covering 3,007,775 Ordinary Shares for the final dividend of 21p per Ordinary Share.

This will result in the issue of 114,333 New Ordinary Shares, resulting in an increase of 0.066% in the issued share capital of the Company.  As previously announced on 13 April 2012, the relevant Calculation Price to be used will be 552.4 pence per Ordinary Share.  Accordingly, the total final dividend to be paid in cash will be £36,007,710 and will be paid on 8 May 2012.

As a result of the issue of the New Ordinary Shares, the terms of each of the Public Warrants, the Lender Warrants and the Royal London Warrants will be amended as follows:

Public Warrants

Each Public Warrant shall be exercisable into 1.027873 Ordinary Shares per Public Warrant.  The Warrant Price at which each Public Warrant may be exercised will change from €10.71 to €10.70 and the Floor Price at which the Company may redeem each Public Warrant for €0.01 will change from €16.06 to €16.05.

Lender Warrants

Each Lender Warrant shall be exercisable into 1.027873 Ordinary Shares per Lender Warrant.  The Warrant Price at which each Lender Warrant may be exercised will change from £14.60 to £14.59 and the Floor Price at which the Company may redeem each Lender Warrant for €0.01 will change from £18.98 to £18.97.

Royal London Warrants

Each Royal London Warrant shall be exercisable into 1.027873 Ordinary Shares per Royal London Warrant.  The Warrant Price at which each Royal London Warrant may be exercised will change from €10.71 to €10.70 and the Floor Price at which the Company may redeem each Royal London Warrant for €0.01 will change from €16.06 to €16.05.

The remaining timetable for the 2011 final dividend is as follows:

Dividend payment date	8 May 2012
First day of dealings in New Ordinary Shares	8 May 2012

Payment of the dividend is subject to Shareholder approval at the Company's annual general meeting to be held on Thursday 3 May 2012 at 1.00 pm.

Details of the Scrip Dividend Scheme were sent to Shareholders on 2 April 2012.  Full details and copies of the published documents are available on the Company's website at http://www.thephoenixgroup.com in the Investor Relations section and also at the National Storage Mechanism http://www.hemscott.com/nsm.do.

Note: Defined terms used in this announcement have the same meaning as given to them in the Circular sent to Shareholders on 2 April 2012 and available on the Company's Website.

Enquiries:

Investors
Katherine Jones Head of Investor Relations, Phoenix Group	[phone]
Media
Neil Bennett, Maitland Peter Ogden, Maitland	[phone]

 

END

 

 

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