NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART,
DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO
DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION.
FOR
IMMEDIATE RELEASE
23 April
2024
Pinewood
Technologies Group PLC ("Pinewood" or the "Company")
Share
Consolidation, Admission of New Ordinary Shares, Total Voting
Rights and payment of Special Dividend
The Board of Pinewood announces
that, following approval of the Share Consolidation at the General
Meeting of the Company held on 22 April 2024, applications were
made to the FCA and the London Stock Exchange for the Share
Consolidation to be reflected on the Official List. It is expected
that 87,115,622 ordinary shares of £1.00 each in the capital of the
Company will be admitted to trading and dealings will commence on
the London Stock Exchange at 8:00 a.m. today.
As part of the Share Consolidation,
the Existing Ordinary Shares have been consolidated such that
Shareholders will receive 1 New Ordinary Share in substitution for
every 20 Existing Ordinary Shares held. Shareholders will hold the
same proportion of the Company's issued share capital as they did
immediately prior to the implementation of the Share Consolidation,
subject only to adjustments for fractional entitlements.
As at 23 April 2024, the Company's
issued ordinary share capital consists of 87,115,622 ordinary
shares of £1.00 each. The voting rights attached to the ordinary
shares are on the basis of one vote per share, representing total
voting rights of 87,115,622. There are no shares held in
treasury.
The above figure (87,115,622) may be
used by Shareholders as the denominator for calculations by which
they can determine if they are required to notify their interest
in, or a change to their interest in, the Company under the
Financial Conduct Authority's Disclosure Guidance and Transparency
Rules.
CREST accounts will be credited with
New Ordinary Shares today. The Board
expects share certificates in respect of the New Ordinary Shares to
be despatched on 1 May 2024 and cheques in respect of any cash
proceeds from the sale of fractions of Existing Ordinary Shares to
be despatched to the relevant Shareholders on 7 May 2024. Further
details of how fractional entitlements are to be dealt with are set
out in the explanatory circular of the Company dated 5 April 2024
(the "Circular").
Following approval of the Special
Dividend at the General Meeting of the Company held on 22 April
2024, the Board of Pinewood expects the Special Dividend to be paid
on 7 May 2024.
Capitalised terms used but not
otherwise defined in this announcement have the same meaning given
to them in the Circular.
Enquiries:
Jefferies International Limited (Financial Adviser and Joint
Corporate Broker)
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+44 (0) 20 7029 8000
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Philip Noblet
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Thomas Bective
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Jordan Cameron
|
|
|
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Headland Consultancy (PR &
Communications)
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+44 (0) 20 3805 4822
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Henry Wallers
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Jack Gault
|
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IMPORTANT
NOTICE
Jefferies International Limited
("Jefferies"), which is authorised and regulated in the United
Kingdom by the Financial Conduct Authority, is acting solely
for the Company, and for no-one else, as broker in connection with
the matters referred to in this announcement and will not be
responsible to anyone other than the Company for providing the
protections afforded to its clients or for providing advice to any
other person in relation to the content of this announcement or any
other matters described in this announcement. To the fullest extent
permitted by law, neither Jefferies nor any of its affiliates
assumes any responsibility whatsoever for or makes any
representation or warranty express or implied, in relation to the
contents of this announcement, including its accuracy, completeness
or verification or for any other statement made or purported to be
made by it, or on its behalf and nothing contained in this
announcement is, or shall be, relied upon as a promise or
representation in this respect whether as to the past, present or
future, in connection with the Company, the Group, or the matters
referred to in this announcement. Jefferies and its affiliates
accordingly disclaims to the fullest extent permitted by law all
and any duty, responsibility and liability whether arising in tort,
contract or otherwise which it might otherwise be found to have in
respect of this announcement or any such statement or
otherwise.
This announcement is not intended
to, and does not constitute, or form part of, any offer to sell or
an invitation to purchase or subscribe for any securities in any
jurisdiction.
This announcement has been prepared
for the purpose of complying with the applicable law and regulation
of the United Kingdom and information disclosed may not
be the same as that which would have been disclosed if this
announcement has been prepared in accordance with the laws and
regulations of jurisdictions outside the United
Kingdom.