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

CompassAnnouncement

06/09/2014 02:16

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RNS Number : 4612J
Compass Group PLC
12 June 2014 
 
COMPASS GROUP PLC 
 
("the Company") 
 
UPDATE RELATING TO RETURN OF £1 BILLION TO SHAREHOLDERS AND SHARE CAPITAL
CONSOLIDATION 
 
Following the approval by Shareholders of all of the resolutions proposed at
the General Meeting of the Company held on 11 June 2014 relating to its
proposed Return of Cash and Share Capital Consolidation, the allotment and
issue of the B Shares and C Shares relating to its Return of Cash and the
Share Capital Consolidation are each expected to occur on 7 July 2014. 
 
The Share Capital Consolidation will consolidate every 17 Existing Ordinary
Shares of 10 pence each into 16 New Ordinary Shares of 10 5/8 pence each.  The
Share Capital Consolidation and the allotment and issue of the B Shares and C
Shares remain conditional on the admission of the New Ordinary Shares of 10
5/8 pence each to the Official List of the UK Listing Authority and to trading
on the London Stock Exchange's main market becoming effective.   An
application will be made to the UK Listing Authority for an amendment to the
Official List and to the London Stock Exchange for an amendment to trading to
reflect the Share Capital Consolidation. 
 
The New Ordinary Shares are expected to be admitted to the Official List of
the UK Listing Authority and to commence trading on the London Stock
Exchange's main market by or as soon as practicable after 8.00 a.m. on 8 July
2014. 
 
 EXPECTED TIMETABLE OF PRINCIPAL EVENTS                                                                                                                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                       
 Election Deadline: latest time and date for receipt of Forms of Election or TTE Instructions from CREST holders in relation to the Alternatives.                                                                                                              1.00 p.m. on Monday 7 July 2014                                                                                                         
 Latest time and date for dealings in Existing Ordinary Shares and cancellation of trading of the Existing Ordinary Shares.                                                                                                                                    4.30 p.m. on Monday 7 July 2014                                                                                                         
 Record Time for entitlement to B Shares and/or C Shares and for the Share Consolidation.  Share register of Existing Ordinary Shares closed and Existing Ordinary Shares disabled in CREST.                                                                   6.00 p.m. on Monday 7 July 2014                                                                                                         
 Admission of New Ordinary Shares to the Official List and to trading on the London Stock Exchange's main market for listed securities. Dealings commence in New Ordinary Shares.CREST accounts credited with New Ordinary Shares.                             By or as soon as practicable after 8.00 a.m. on Tuesday 8 July 2014By or as soon as practicable after 8.00 a.m. on Tuesday 8 July 2014  
 B Shares issued pursuant to the Capital Option and C Shares issued pursuant to the Income Option and (if applicable) the scaling-back arrangements of the Capital Option.                                                                                     By or as soon as practicable after 8.00 a.m. on Tuesday 8 July 2014                                                                     
 CREST accounts credited with New Ordinary Shares.                                                                                                                                                                                                             By or as soon as practicable after 8.00 a.m. on Tuesday 8 July 2014                                                                     
 C Share Dividend becomes payable on C Shares issued pursuant to the Income Option and these C Shares automatically reclassify as Deferred Shares.                                                                                                             By Tuesday 15 July 2014                                                                                                                 
 Redemption of B Shares under the Capital Option.                                                                                                                                                                                                              By Tuesday 15 July 2014                                                                                                                 
 If applicable, as a result of the scaling-back arrangements of the Capital Option, Barclays makes the Purchase Offer for C Shares issued pursuant to the Capital Option by means of an announcement by the Company through a Regulatory Information Service.  By Tuesday 15 July 2014                                                                                                                 
 Despatch of cheques or payment by BACS to mandated sterling bank accounts, in respect of proceeds under the Income Option.                                                                                                                                    On Tuesday 29 July 2014                                                                                                                 
 Despatch of cheques or, if held in CREST, CREST accounts credited in respect of proceeds under the Capital Option.                                                                                                                                            On Tuesday 29 July 2014                                                                                                                 
 Despatch of share certificates in respect of New Ordinary Shares and, if applicable, despatch of cheques and CREST accounts credited in respect of fractional entitlements.                                                                                   On Tuesday 29 July 2014                                                                                                                 
 
 
On Tuesday 29 July 2014 
 
Notes: 
 
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. 
 
All time references above are to London, UK time. 
 
These dates are given on the basis of the Board's current expectations and are
subject to change. If any of the above times and/or dates change, the revised
times and/or dates will be notified to Shareholders by announcement through a
Regulatory Information Service and will be available on
www.compass-group.com. 
 
Terms used in this announcement but which are not otherwise defined shall have
the same meanings as set out in the circular published by the Company on 19
May 2014. 
 
Enquiries to: 
 
Mark J White/Clare Hunt          Compass Group PLC               Tel. +44 (0)
1932 573000 
 
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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