Scrip Reference Price

RNS Number : 5439A

Scottish & Southern Energy PLC

02 February 2011

 



SCOTTISH AND SOUTHERN ENERGY PLC

SCRIP DIVIDEND SCHEME

The Board of Scottish and Southern Energy plc ('the Company') confirms that the Scrip reference price for the fully paid ordinary shares to be issued to shareholders electing to receive the Scrip dividend alternative for the interim dividend for the year ending 31 March 2011, payable on 25 March 2011, will be 1,172 pence per share.

The Scrip reference price has been calculated by taking the average mid-market closing price of the Company's shares over the five business days commencing on the ex-dividend date. In respect of the interim dividend for the year ending 31 March 2011, this was the period 26 January to 1 February 2011.

If all of the Company's eligible shareholders as at the record date of 28 January 2011 were to elect to participate in the Scrip Dividend Scheme in respect of their entire shareholdings as at such date, based on the Scrip reference price of 1,172 pence per share, the maximum number of shares required to be issued by the Company, for Scrip dividend purposes, would be 17,806,229, representing approximately 1.91% of the Company's issued share capital on the record date.

The exact number of shares which will require to be issued will be established after 25 February 2011, the final date for receipt of elections to participate in the Scrip Dividend Scheme.  

Shareholders holding shares in certificated form who were transferred from the previous Dividend Reinvestment Plan directly into the Scrip Dividend Scheme will remain in the Scrip Dividend Scheme unless they physically elect to withdraw. 

Shareholders holding shares in certificated form who wish to withdraw from the Scrip Dividend Scheme should ensure their requests to withdraw are lodged with Capita Registrars to arrive no later than 25 February 2011.

Shareholders holding shares in certificated form who wish to participate in the Scrip Dividend Scheme should contact Capita Registrars and return their mandate forms to Capita Registrars to arrive no later than 25 February 2011.

Shareholders who hold their shares in uncertificated form should consult their Crest sponsors as appropriate.

Scrip dividend timetable for interim dividend for the year ending 31 March 2011

Ex-dividend date                                                    26 January 2011

Record date                                                           28 January 2011

Scrip reference price calculation period            26 January - 1 February 2011

Last date for receipt of Scrip elections              25 February 2011

Dividend payment/Scrip issue date                   25 March 2011

 

END

 

 

MSCUUORRABAURAR