Scrip Reference Share Price

RNS Number : 4520B

ITE Group PLC

16 June 2016

 

16 June 2016

ITE Group plc ("Company") - SCRIP DIVIDEND ALTERNATIVE / SCRIP REFERENCE PRICE

At the Company's Annual General Meeting held on 28 January 2016, shareholders granted the Company authority to introduce a SCRIP Dividend Scheme (the "Scheme"). The Scheme provides shareholders with the opportunity to elect to receive ordinary shares in the capital of the Company for every cash dividend entitlement where the Scheme is offered.

As announced on 9 May 2016, the board of directors of the Company approved an interim dividend for the year ended 30 September 2016 of 1.5 pence per ordinary share payable on 5 August 2016 ("Interim Dividend").

In relation to the Interim Dividend, the Company invites shareholders, on the register on 10 June 2016, to participate in the Scheme and is offering those shareholders the opportunity to receive ordinary shares of 1 pence each in the Company, ranking equally with the existing issued ordinary shares, in place of cash dividends for the Interim Dividend ("SCRIP Dividend Alternative").

The SCRIP reference share price for the fully paid ordinary shares to be issued to shareholders electing to receive the Scrip Dividend Alternative is 140.45 pence per ordinary share. The SCRIP reference share price is calculated as the average of the closing middle market quotation for the Company's ordinary shares, derived from the London Stock Exchange Daily Official List, for the five consecutive dealing days from 9 June to 15 June (inclusive).

Shareholders will be written to explaining how to join the Scheme. It is optional to join the Scheme and the Scheme's terms and conditions and further information are available at www.ite-exhibitions.com/scrip

The deadline for applications to elect to receive the SCRIP Dividend Alternative for this Interim Dividend is 4:30pm (UK time) on 15 July 2016. Shareholders may join the Scheme after this date, but it will only apply to future relevant dividends.

The SCRIP Dividend Alternative timetable for the Interim Dividend is as follows:

Interim dividend amount declared - 1.5p per ordinary share	9 May 2016
Ex-dividend date	9 June 2016
Record date	10 June 2016
SCRIP reference share price calculation period	9 June 2016 to 15 June 2016
SCRIP reference share price announced	16 June 2016
SCRIP dividend election deadline for this Interim Dividend	15 July 2016
Dividend payment date	5 August 2016

Further queries about the Scheme should be directed to the ITE Group plc Shareholder helpline on 0371 384 2030 (UK) or [phone] (outside the UK).

Contact:

Anneka Milham, Group Company Secretary  

[e-mail]

[phone]

 

END

 

 

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