At its 2012 Annual General Meeting, Capital & Counties Properties PLC (the “Company”) obtained shareholder approval to undertake an odd-lot offer (the “Odd-lot Offer”) to facilitate a reduction in the number of ordinary shareholders holding fewer than 250 ordinary shares in the Company (the “Odd-lot Holders”). The Odd-lot Offer was launched on 14 November 2012 and, unless they elected to keep them, Odd-lot Holders’ shares were repurchased by the Company on 12 December 2012.
Following the implementation of the Odd-lot Offer, the Company’s shareholder base was reduced by 35% (7,916 shareholders). The Company purchased a total of 431,450 of its own ordinary shares of 25 pence each as follows:
- 106,450 ordinary shares held on the UK share register were purchased at a price of 236.07 pence per share.
- 325,000 ordinary shares held on the SA share register were purchased at a price of 3284.59 cents per share.
The shares purchased by the Company represent approximately 0.06% of the existing issued share capital of the Company as at 12 December 2012. This reduction will reduce administrative costs, including, for example, the costs of printing and distributing financial statements, circulars and notices.
If you were an Odd-lot Holder and have any queries relating to the Odd-lot Offer please contact the appropriate registrar using the contact details on the right hand side of this page.