NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN ANY JURISDICTION WHERE TO DO SO WOULD VIOLATE ANY APPLICABLE LAW
ZEGONA COMMUNICATIONS PLC
Zegona COMPLETES TENDER OFFER AND DECLARES INTERIM DIVIDEND
London, England, 9 October 2017 - Zegona Communications PLC ("Zegona" or the "Company") declares its 2017 interim dividend of 3.9 pence per share following completion of its Tender Offer
Zegona, the LSE Main Market company established to acquire and operate businesses in the European Telecommunications, Media and Technology ("TMT'") sector, is pleased to declare its interim dividend for the full year to 31 December 2017.
On 3 April 2017, Zegona's Board of Directors approved a policy to pay a dividend of 5.0 pence per share for the full year period to 31 December 2017, equivalent to a total dividend of £9.8 million (with the intention to pay two equal instalments of £4.9 million).
Following completion of the tender offer today, whereby the Company repurchased 69,825,511 shares at £2.00 per share (the "Tender Offer"), the Company's issued share capital now consists of 126,219,449 ordinary shares. The Company has reconfirmed that it intends to pay a total dividend of £9.8 million in 2017, and adjust the dividend per share amount in line with this new number of shares. Specifically, the Board of Directors has approved a policy to pay a dividend of 7.8 pence per share for the full year period to 31 December 2017, equivalent to a total dividend of £9.8 million (with the intention to pay the total amount in two equal instalments of £4.9 million). To this end, the Board of Directors has declared an interim dividend of 3.9 pence per ordinary share to be paid on 10 November 2017.
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).
Expected timetable for November dividend: |
Ex-dividend date |
19 October 2017 |
Record date |
20 October 2017 |
Payment of the dividend |
10 November 2017 |
Completion of PDMR Dealing
The following Persons Discharging Managerial Responsibilities ("PDMRs") have today completed the following sales of ordinary shares in the Tender Offer (which they had given irrevocable undertakings to tender as announced by the Company on 3 October 2017):
Person |
Number of ordinary shares sold in the Tender Offer |
Total percentage of ordinary shares held following completion of the Tender Offer (rounded)1 |
Eamonn O' Hare |
758,351 |
1.082 |
Robert Samuelson |
286,006 |
0.408 |
Howard Kalika |
98,316 |
0.140 |
Murray Scott |
17,853 |
0.025 |
Ashley Martin |
5,665 |
0.008 |
Richard Williams |
4,491 |
0.006 |
Dean Checkley |
2,280 |
0.003 |
Mark Brangstrup Watts and Louisa Bonney |
18,070,343 |
25.779 |
1 Based on the 126,219,449 ordinary shares which are in issue following completion of the Tender Offer and cancellation of the ordinary shares tendered.
The above sales of ordinary shares by Mark Brangstrup Watts and Louisa Bonney relate to ordinary shares held by Marwyn Asset Management Limited, of which Mr Brangstrup Watts and Mrs Bonney are directors, in its capacity as agent for and on behalf of its discretionary managed clients.
Total Voting Rights
In accordance with the Financial Conduct Authority's ("FCA") Disclosure Guidance and Transparency Rule 5.6.1R, the Company notifies the market that, as of 9 October 2017 (following completion of the Tender Offer and the cancellation of the ordinary shares tendered), the Company's issued share capital consists of 126,219,449 ordinary shares with voting rights.
There are no ordinary shares held in treasury.
The above number of shares, 126,219,449, may be used by shareholders (and others with notification obligations) as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Enquiries
Tavistock (Public Relations adviser)
Tel: +44 (0)20 7920 3150
Jos Simson - [email protected]
Lulu Bridges - [email protected]
This announcement contains inside information.
About Zegona
Zegona was established with the objective of acquiring businesses in the European Telecommunications, Media and Technology ("TMT") sector with a "Buy-Fix-Sell" strategy to deliver attractive shareholder returns. Zegona is listed on the London Stock Exchange's Main Market and is led by former Virgin Media executives, Eamonn O'Hare and Robert Samuelson.
Zegona acquired Telecable, the leading quad play cable telecommunications operator in the Asturias region of Spain in August 2015. The sale of Telecable to Euskaltel was completed on 26 July 2017.
The person responsible for arranging for the release of this announcement on behalf of Zegona is Dean Checkley, Chief Financial Officer, whose business address is 20 Buckingham Street, London, WC2N 6EF.
