Domino's Pizza UK & IRL PLC
19 October 2006
For Immediate Release 19 October 2006
DOMINO'S PIZZA UK & IRL plc
ANNOUNCEMENT OF CAPITAL RE-STRUCTURING TO RETURN FURTHER CASH TO SHAREHOLDERS
Domino's Pizza UK & IRL plc ('Domino's Pizza' or 'the Company'), the UK and
Ireland leader in pizza delivery, is pleased to announce that a re-structuring
designed to optimise the capital structure of the Company and its subsidiaries
('the Group'), has been confirmed by the High Courts of Justice and has become
effective.
The Group generates cash which is surplus to operational requirements. Its
strategy provides for the return of such excess cash to shareholders. To date,
this has been achieved by augmenting a progressive dividend policy with share
buy-backs. In order to continue with this strategy of returning surplus cash to
shareholders the Company needs to ensure that it has sufficient distributable
reserves.
Stephen Hemsley, Chief Executive of Domino's, said:
'This re-structuring will enable the Group to increase its distributable
reserves, continue a progressive dividend policy and undertake further share
buy-backs. Domino's Pizza is an extremely cash-generative business and this is
the best way of maximising shareholder value.'
The Company will make an announcement with regard to any further purchasing of
shares that it may consider in due course.
ENDS
For further information, please contact:
Domino's Pizza:
Stephen Hemsley - Chief Executive 01908 580604
Bernadette Ahmed - Press Office 07909 928016
Hogarth Partnership Limited:
Chris Matthews, Fiona Noblet, Anthony 020 7357 9477
Arthur
Notes to editors:
Domino's Pizza UK & IRL plc holds the exclusive master franchise to own, operate
and franchise Domino's Pizza stores in the UK and Ireland. The Group is the
leading player in the UK and Ireland's fast-growing pizza delivery market. The
first UK store opened in 1985 and the first Irish store opened in 1991.
There are 428 stores in the UK and Ireland. Of these, 345 stores are in England,
31 are in Scotland, 14 are in Wales, 11 are in Northern Ireland and 27 are in
the Republic of Ireland.
Founded in 1960, Domino's Pizza is the recognised world leader in pizza
delivery. Through its primarily franchised system, Domino's Pizza operates a
global network of more than almost 8,000 stores in 55 countries.
This information is provided by RNS
The company news service from the London Stock Exchange
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