Rugby Estates PLC Completion of Proposals to effect Return of Cash (2900G)

TIDMRES

RNS Number : 2900G

Rugby Estates PLC

27 June 2012

Rugby Estates Plc (the "Company")

Result of Court Hearing, Completion of Proposals to effect the Return of Cash and TVR

Further to the circular to shareholders of 17 May 2012 ("Circular") at a hearing today, the Companies Court of the Chancery Division of the High Court of Justice ("Court") sanctioned the cancellation of the B shares and the C shares in the capital of the Company and the reduction of the share premium account and capital redemption reserve of the Company ("Reduction of Capital").

Accordingly, the Reduction of Capital became effective today, 27 June 2012, in order to effect the return of cash to shareholders as explained in the Circular.

The return of cash involves a payment to shareholders of 250p per ordinary share of 13p each ("Existing Ordinary Share") in accordance with the procedures set out in the Circular and the elections of shareholders. Payments are expected to be made to shareholders on or around 11 July 2012.

The Company's share capital has been consolidated such that every 7 Existing Ordinary Shares (following the sub-division into ordinary shares of 6p each, as described in the Circular) have been consolidated into 3 new ordinary shares of 14p each ("New Ordinary Shares"). The share capital consolidation is intended to maintain comparability of the Company's future and historic share price as a result of the return of capital.

The Existing Ordinary Shares will cease to trade on AIM from close of business today and the New Ordinary Shares will be admitted to trading on AIM at 8 a.m. tomorrow, 28 June 2012.

New certificates in respect of the New Ordinary Shares are expected to be despatched to shareholders on or around 11 July 2012.

Total Voting Rights and Shares in Issue

Following the share capital consolidation, the Company's issued share capital consists of 1,092,312 ordinary shares with a nominal value of 14p each with voting rights. The Company does not hold any ordinary shares in treasury. Therefore, the total number of voting rights in the Company is 1,092,312 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

Enquiries:

 
 David Tye, Chairman                Rugby Estates Plc 
  Andrew Wilson, Chief Executive     www.rugbyestates.plc.uk    020 7016 0050 
 Katy Birkin/Laura Littley          Fairfax I.S. PLC            020 7598 5368 
 Stephanie Highett / Dido 
  Laurimore / Will Henderson        FTI Consulting              020 7831 3113

This information is provided by RNS

The company news service from the London Stock Exchange

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