Scrip Dividend Scheme
Scrip Dividend Scheme
Scrip Dividend Scheme
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For example only:<br />
• The cash dividend is 2p per Ordinary Share.<br />
• You hold 1,000 Ordinary Shares and take New Shares instead of the cash dividend.<br />
• The calculation price is £1.05<br />
Value of your cash dividend 1,000 x 2p = £20.00<br />
Number of New Shares £20.00 ÷ £1.05 = 19.05<br />
Rounded down to 19 New Shares.<br />
Value of New Shares 19 x £1.05 = £19.95<br />
In this case a cash balance of 5 pence would be carried forward to the next dividend<br />
payment. (See question 6.)<br />
5. HOW WILL I KNOW HOW MANY NEW SHARES I HAVE RECEIVED?<br />
You will receive a statement with your share certificate showing the number of New<br />
Shares you have received instead of the cash dividend and any cash balance carried<br />
forward to the next dividend payment. The statement will also contain details of the<br />
calculation price and the notional tax credit, which you will need for your tax return. If<br />
you wish to know the calculation price before this, please contact Equiniti Limited three<br />
business days after the record date of the particular dividend. (See question 17.)<br />
If on any occasion your cash dividend entitlement, together with any cash balance<br />
brought forward, is insufficient to acquire at least one New Share, you will receive a<br />
statement explaining that no New Shares have been issued to you and showing how<br />
much cash has been carried forward to the next dividend.<br />
6. WHAT WILL YOU DO WITH THE CASH BALANCE?<br />
When working out your New Share entitlement, it is unlikely that the calculation will<br />
give rise to an exact number of New Shares. As fractions of New Shares cannot be issued,<br />
an entitlement to their cash value (being the cash balance) will be carried forward,<br />
without interest, and included in the calculation for your next dividend.<br />
If you withdraw from the <strong>Scheme</strong> or if you sell or transfer your entire holding of Ordinary<br />
Shares, or if the Company terminates the <strong>Scheme</strong> or if (being the sole Shareholder) you<br />
die, are declared bankrupt, go into liquidation or suffer from mental incapacity, any cash<br />
balance held will be paid to you or your estate or trustee entitled as soon as reasonably<br />
practicable.<br />
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