REG - Compass Group PLC - Return of Cash Update <Origin Href="QuoteRef">CPG.L</Origin>

CompassAnnouncement

06/09/2014 16:32

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RNS Number : 2869M
Compass Group PLC
15 July 2014 
 
COMPASS GROUP PLC 
 
PAYMENT OF C SHARE DIVIDEND AND THE REDEMPTION OF B SHARES ISSUED PURSUANT TO
THE CAPITAL OPTION RELATING TO THE RETURN OF c. £1 BILLION TO SHAREHOLDERS 
 
Compass Group PLC ("Compass" or the "Company") today announces the payment of
the C Share Dividend and the redemption of B Shares issued pursuant to the
Capital Option relating to its Return of Cash of approximately £1 billion to
Shareholders. 
 
C Share Dividend (Income Option) 
 
In accordance with the provisions of the Articles of Association adopted and
approved by Shareholders on 11 June 2014, the C Share Dividend of 56 pence on
each C Share issued pursuant to the Income Option (being 1,366,745,487 C
Shares) has now become payable. It is expected that Shareholders entitled to
receive the C Share Dividend will be sent cheques or, if mandate instructions
are held in respect of a sterling bank account, that payments will be made by
BACS to mandated bank accounts in respect of the C Share Dividend on 29 July
2014. 
 
In accordance with the Company's Articles of Association and as set out in the
circular published by the Company on 19 May 2014 in relation to the Return of
Cash (the "Circular"), the relevant C Shares on which the C Share Dividend has
become payable are automatically reclassified as Deferred Shares (having
negligible value and carrying extremely limited rights) and the Company hereby
appoints Mr Mark White, General Counsel and Company Secretary or failing him,
Mr Dominic Blakemore, Group Finance Director, to execute on behalf of all
holders of such Deferred Shares a transfer of all such Deferred Shares to
Barclays Bank PLC (or its nominee) for an aggregate consideration of one
penny, and subsequently a transfer of such Deferred Shares to the Company for
an aggregate consideration of one penny. As set out in the Circular, in view
of the negligible amount of the aggregate consideration for the Deferred
Shares, Shareholders will not be entitled to have any part of the aggregate
consideration paid to them. 
 
Redemption of B Shares (Capital Option) 
 
It has been resolved that all B Shares issued pursuant to the Capital Option
(being 419,413,879 B Shares) be redeemed for 56 pence per B Share with
immediate effect. 
 
It is expected that Shareholders entitled to receive payments in respect of
the proceeds of the redemption of the B Shares issued pursuant to the Capital
Option will be sent cheques or, if Shareholders held their Existing Ordinary
Shares in CREST, will have their CREST accounts credited on or around 29 July
2014. 
 
All B Shares issued pursuant to the Capital Option and redeemed will be
cancelled. 
 
Terms used in this announcement but which are not otherwise defined shall have
the same meanings as set out in the Circular. 
 
Enquiries: 
 
Clare Hunt - Compass Group PLC                  Tel. +44 (0) 1932 573000 
 
Capita Asset Services Shareholder Helpline 
 
Shareholder Helpline 
 
If you have any questions about the Return of Cash please call the Shareholder
Helpline on 0800 121 7641 (or +44 203 471 2731 if calling from outside of the
United Kingdom) between 9.00 a.m. and 5.30 p.m. Monday to Friday (except UK
public holidays). Calls to the Shareholder Helpline are free of charge from a
BT landline. Costs for calls from mobile telephones and other network
providers may vary. Calls to the Shareholder Helpline from outside the United
Kingdom will be charged at the applicable international rates. Please note
that calls may be recorded and randomly monitored for security and training
purposes. For legal reasons, the Shareholder Helpline will be unable to give
advice on the merits of the Return of Cash or to provide financial, tax or
investment advice. 
 
Notes to Editors: 
 
Compass Group PLC is a world-leading food and support services company, which
generated annual revenues of £17.6 billion in the year to 30 September 2013. 
It operates in around 50 countries, employs over 500,000 people and serves
over 4 billion meals every year.  The Company specialises in providing food
and a range of support services across the core sectors of Business &
Industry, Healthcare & Seniors, Education, Defence, Offshore & Remote, Sports
& Leisure and Vending with an established brand portfolio. 
 
Ends 
 
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