Caledonia Investments PLC
10 July 2006
Caledonia Investments plc
Result of special dividend elections and amount of net asset value and special
dividend
The Board of Caledonia Investments plc ('Caledonia') announces that, as at 11.00
a.m. (London time) on 6 July 2006, being the latest time for receipt of forms of
election under the terms of the elective special dividend proposals, valid
elections have been made to receive the special dividend on 5,411,015 Caledonia
ordinary shares ('Ordinary Shares'), representing approximately 84.4 per cent.
of the maximum number of Ordinary Shares available for election and
approximately 8.4 per cent. of the total issued ordinary share capital
(excluding the 100,000 Ordinary Shares held in treasury). The implementation of
the special dividend proposals remains conditional on the Court's approval of
the reduction of capital by Caledonia, the hearing for which is scheduled for 12
July 2006.
The Board of Caledonia also announces that the net asset value per Ordinary
Share, calculated in accordance with the methodology set out in the circular to
shareholders, as at the certification date of 5.00 p.m. (London time) on 7 July
2006, was 1961 pence. The amount of the special dividend per Ordinary Share to
be paid on those Ordinary Shares on which Caledonia shareholders have validly
elected to receive the special dividend will be 1902.17 pence. Accordingly, the
total amount to be paid under the special dividend proposals on the 5,411,015
Ordinary Shares for which valid elections have been made will be £102.9 million.
Each Caledonia shareholder who validly elected for any of the Basic Entitlement,
the Under Election Option or the Over Election Option will have his election met
in full. Each Caledonia shareholder who validly elected for the Pro Rata Option
will receive the special dividend in respect of Ordinary Shares representing
approximately 8.44 per cent. of his shareholding in Caledonia (rounded down,
where appropriate, to the nearest whole number of Ordinary Shares).
The total number of Ordinary Shares remaining in issue after the payment of the
special dividend and reduction of capital will be 58,694,781 Ordinary Shares
(excluding the Ordinary Shares held in treasury).
If granted, the Court order confirming Caledonia's reduction of capital is
expected to be registered by the Registrar of Companies on 13 July 2006, at
which time the reduction of capital takes effect. Payments to those Caledonia
shareholders who have validly elected to receive the special dividend will be
made on 13 July 2006 or as soon as practicable thereafter.
A further announcement will be made once the result of the Court hearing is
known.
10 July 2006
ENQUIRIES:
Caledonia +44 (0)20 7802 8080
Tim Ingram, Chief Executive
Jonathan Cartwright, Finance Director
JPMorgan Cazenove +44 (0)20 7588 2828
Julian Cazalet
College Hill +44 (0)20 7457 2020
Tony Friend
Roddy Watt
This information is provided by RNS
The company news service from the London Stock Exchange
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