B Shares - Q & A's
Your questions
- Why have I not received a dividend?
- What is a B Share?
- What can I do with my B Shares?
- Can I sell my B Shares?
- Can I redeem B Shares at any time?
- Why have I not been told about this change to dividends?
- Where can I go for more information?
-
The answers
Why have I not received a dividend?
At McBride plc's General Meeting on 24 March 2011, shareholders
approved the issue of non-cumulative redeemable preference shares
with a nominal value of 0.1 pence each (B Shares) as a method of
making payments to shareholders rather than paying a cash dividend.
However, you can still receive cash from the Company provided
you complete and return an Election Form by the relevant
deadline.
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B Shares are non-cumulative redeemable preference shares of 0.1p
each in the capital of the Company that can, during defined
periods, be redeemed for cash. The Company expects to issue B
Shares to ordinary shareholders in May and November each year in
lieu of a cash dividend.
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What can I do with my B Shares?
You can do one of two things with your B Shares:
1 Redeem all (or part of) your B Shares for cash
You can receive cash, each time the Company makes a payment to shareholders, by completing an Election Form or making an instruction through CREST, depending on whether you hold your ordinary shares in the Company in certificated or uncertificated form. If you hold your ordinary shares in certificated form (i.e. not in CREST) you should return your Election Form to the Company's Registrar, Computershare Investor Services PLC, Corporate Actions Projects, Bristol BS99 6AH, at the earliest opportunity.
If you hold your ordinary shares in uncertificated form (i.e. in CREST) and want to redeem the B Shares being issued to you for cash, you should submit an electronic message through the CREST system.
2 Keep the B Shares
If you make no election at all then you will automatically
receive B Shares and you will be sent a B Share certificate (or, if
you are holding your ordinary shares through CREST, your CREST
account will be credited with B Shares). If you retain B
Shares you will receive cash dividends on the B Shares twice a year
fixed at 75 per cent of the interest rate known as LIBOR.
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B Shares are not listed on the London Stock Exchange and
therefore there is no ready market in which you can sell your B
Shares, although you can transfer them privately.
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Can I redeem B Shares at any time
No. The Company expects to set redemption dates in May and
November each year for so long as B Shares are in issue. If you are
issued with a B Share certificate and later want to redeem your B
Shares, you will need to complete the form on the reverse of the B
Share certificate and return it to the Company's Registrar,
Computershare Investor Services PLC, Corporate Actions Projects,
Bristol BS99 6AH. Provided the certificate is received by the
relevant deadline for that redemption, the shares will be redeemed
at 0.1 pence per share on the next redemption date.
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Why have I not been told about this change to dividends?
A pack of information was issued to shareholders prior to the
General Meeting held on 24 March 2011, explaining why the Company
wished to adopt the B Share scheme. It also provided
information on what shareholders can do with the B Shares and it is
available on the Company's website.
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Where can I go for more information?
Information regarding the B Share scheme can be found in the
booklet entitled "Your Guide to B Shares". Alternatively you
can contact the Company's Registrar's helpline on 0870 707 1136 (or
+44 870 707 1136 from outside of the United Kingdom).
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