Zegona Communications PLC Dividend Payment (5800C)
21 Junio 2021 - 7:04AM
UK Regulatory
TIDMZEG
RNS Number : 5800C
Zegona Communications PLC
21 June 2021
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ZEGONA COMMUNICATIONS PLC ("Zegona")
LEI: 213800ASI1VZL2ED4S65
21 JUNE 2021
ZEGONA STARTS RETURNING CASH TO SHAREHOLDERS WITH GBP5.7 MILLION
DIVIDEND PAYMENT
On 28 March 2021, a wholly-owned subsidiary of MasMovil Ibercom,
S.A.U. ("MasMovil"), a portfolio company of the private equity
funds KKR, Providence and Cinven, launched a tender offer to
acquire 100% of Euskaltel, S.A. ("Euskaltel") for EUR11.17 per
share in cash (the "Offer"). On 2 June 2021, Euskaltel shareholders
approved a EUR0.17 per share dividend which was paid on 17 June
2021. On 18 June[1], Masmovil confirmed, in accordance with its
Offer terms, that as a result of Euskaltel's dividend the Offer
price will now be reduced by EUR0.17 to EUR11.00.
On 24 May 2021, Zegona announced its intention to return GBP335
million of the proceeds from the successful sale of its investment
in Euskaltel[2] to its shareholders as soon as is reasonably
practicable. Zegona is now following through on this commitment,
with its Board of Directors today declaring an interim dividend of
2.6 pence per share which returns the full dividend received from
Euskaltel. This is consistent with Zegona's existing policy to pass
100% of all Euskaltel dividends straight through to its
shareholders.
After payment of this 2.6 pence per share dividend, Zegona
remains committed to returning the balance of the GBP335 million
from the successful sale of its investment in Euskaltel[3]. This
capital return will be implemented as soon as is reasonably
practicable once the funds have been received, using the mechanism
which the directors believe offers the best combination of
timeliness, cost effectiveness and tax efficiency.
The timetable for Zegona's dividend is[4]:
Ex-dividend date 1 July 2021
Record date 2 July 2021
Payment of the dividend 23 July 2021
Enquiries
Tavistock (Public Relations adviser - UK)
Tel: +44 (0)20 7920 3150
Jos Simson - jos.simson@tavistock.co.uk
IMPORTANT NOTICES
Zegona is listed on the standard listing segment of the Official
List of the Financial Conduct Authority and the Main Market for
listed securities of the London Stock Exchange. This announcement
has been prepared in accordance with English law, the Listing Rules
and the Disclosure Guidance and Transparency Rules and information
disclosed may not be the same as that which would have been
prepared in accordance with the laws of jurisdictions outside
England.
The distribution of this announcement in jurisdictions outside
the United Kingdom may be restricted by law and therefore persons
into whose possession this announcement comes should inform
themselves about and observe such restrictions. Any failure to
comply with the restrictions may constitute a violation of the
securities law of any such jurisdiction. None of the content of
https://www.cnmv.es, https://Zegona.com nor the content of any
website accessible from hyperlinks on either website or any other
website, is incorporated into, or forms part of, this announcement
nor, unless previously published by means of a recognised
information service, should any such content be relied upon in
reaching a decision as to whether or not to acquire, continue to
hold, or dispose of, securities in Zegona.
[1] See
https://www.cnmv.es/Portal/verDoc.axd?t={6dace521-5969-4e81-b548-bc73d0fb5793}
[2] See
https://www.zegona.com//media/Files/Z/Zegona/press-release/21-05-24-return-of-335m-final.pdf
the capital return will be conditional upon the closing of
MasMovil's Offer and subject to all applicable laws and
regulations, including the receipt of the required shareholder and
court approvals and such other third-party approvals as reasonably
required, which the Company has undertaken to use all reasonable
endeavours promptly to procure.
[3] This will result in a capital return of GBP329.3 million
after the payment of GBP5,693,221 for this dividend.
[4] The payment of the dividend to eligible holders of shares is
expected to be effected through CREST or by BACS/cheque (in the
case of shares held in certificated form).
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END
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June 21, 2021 08:04 ET (12:04 GMT)
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