TIDMZEG

RNS Number : 5800C

Zegona Communications PLC

21 June 2021

NOT FOR DISTRIBUTION, PUBLICATION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OR TO ANY US PERSON, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN SPAIN) OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION, PUBLICATION OR RELEASE WOULD BE UNLAWFUL.

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).

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DIVUAVARABUNUAR

(END) Dow Jones Newswires

June 21, 2021 08:04 ET (12:04 GMT)

Zegona Communications (LSE:ZEG)
Gráfica de Acción Histórica
De Dic 2021 a Ene 2022 Haga Click aquí para más Gráficas Zegona Communications.
Zegona Communications (LSE:ZEG)
Gráfica de Acción Histórica
De Ene 2021 a Ene 2022 Haga Click aquí para más Gráficas Zegona Communications.