Compass Group Plc Proposes return approx £1 billion of cash to shareholders
Return of 56 pence per existing ordinary share in the capital of Compass Group PLC. Consolidation of every 17 Existing Ordinary Shares into 16 new ordinary shares. Further to the announcement made on 14 May 2014, Compass Group PLC is today posting a circular regarding the proposed Return of Cash and Share Capital Consolidation to Compass shareholders, including notice of a general meeting to be held at 11.00 a.m. on 11 June 2014.
The Company intends to return 56 pence per Existing Ordinary Share to Shareholders on the register as at 6.00 p.m. on 7 July 2014, which amounts to approximately £1 billion in aggregate. The Return of Cash is being structured as a "B and C share" scheme to allow Shareholders, subject to applicable overseas restrictions, to elect to receive their cash proceeds as an income payment, a capital payment or any combination of these.