The Weir Group PLC (the "Company")
6 May 2016
The Weir Group PLC Scrip Dividend Scheme - Scrip Reference Share Price
On 24 February 2016, the Company announced its results for the 52 weeks ended 1 January 2016 and declared a final dividend of 29.0p (the "2015 Final Dividend").
We also announced that the Company would be offering shareholders the opportunity to participate in The Weir Group PLC Scrip Dividend Scheme (the "Scrip Scheme"). Shareholders electing to participate in the Scrip Scheme will, for the 2015 Final Dividend, receive new Ordinary Shares in the Company instead of cash, and the entire dividend will be treated as a normal dividend.
The Scrip Reference Share Price which will be used in calculating the number of new ordinary shares is 1161.4p.
This figure is equal to the average of the closing middle market quotations derived from the Daily Official List of the London Stock Exchange for the five dealing days commencing on 28 April 2016, being the day on which the Company's ordinary shares were first quoted "ex dividend".
A letter summarising how Shareholders can participate in the Scrip Scheme was posted to Shareholders on 5 April 2016 (the "Letter"). This, together with the terms and conditions of the Scrip Scheme, are available on the Company's website at www.investors.weir.
The deadline by which Shareholders can elect to participate in the Scrip Scheme is 25 May 2016. As further detailed in the Letter, the timetable for the 2015 Final Dividend is as follows:
DATE | EVENT |
Thursday 28 April 2016 | Ex-dividend date. |
Friday 29 April 2016 | Dividend Record Date. |
Wednesday 25 May 2016 | Last date for receipt of Mandate Forms from shareholders holding certificated shares electing to participate in the Scrip Scheme. Last date for shareholders holding uncertificated shares on CREST to elect to participate in the Scrip Scheme. |
Monday 6 June 2016 | Dividend Payment Date. Expected date of issue, admission and first day of dealings in the New Shares on the London Stock Exchange. |
Defined terms used in this announcement have the same meaning as in the terms and conditions.
Christopher Morgan
Company Secretary