Virgin Money UK PLC
(Virgin Money or Company)
LEI: 213800ZK9VGCYYR6O495
13 June 2024
Dividend Declaration
As announced in the Virgin Money UK
PLC 2024 Interim Financial Report published on 13 June 2024, the
Board of directors of the Company has approved an interim dividend
(the FY 2024 Dividend) in respect of the financial year ending 30
September 2024 of 2.0p per ordinary share in the Company (H1
2023:3.3p).
Except as otherwise defined in this
announcement, capitalised terms in this announcement are defined in
the Scheme Document published by the Company on 22 April
2024.
As described in the Scheme Document,
Virgin Money Ordinary Shareholders and Virgin Money CDI Holders are
entitled, in accordance with the terms of the Scheme, to receive
and retain the FY 2024 Dividend, which shall be paid on 30 July
2024 to Virgin Money Ordinary Shareholders on the register of
members as at close of business in London on 28 June 2024 and to
Virgin Money CDI Holders on the CDI Register as at close of
business in Melbourne on 28 June 2024 (the Record Date). The
ex-dividend date will be 27 June 2024.
No conversions (transmutations) of
ordinary shares to CDIs will be processed between 17.00 (BST) on 26
June 2024 and 08.00 (BST) on 1 July 2024, and no conversions
(transmutations) of CDIs to ordinary shares will be processed
between 17.00 (AEST) on 26 June 2024 and 08.00 (AEST) on 1 July
2024.
The FY 2024 Dividend will be paid to
Virgin Money Shareholders entitled thereto in the same currency as
dividend payments that such Virgin Money Shareholder would receive
from the Company in the ordinary course and in accordance with any
existing Electronic Payment Mandate held by Computershare at the
Record Date. Accordingly, such payments will be made to the Virgin
Money Shareholders entitled to the relevant payment as
follows:
(i) to Virgin
Money CDI Holders in respect of whom Computershare holds an
Electronic Payment Mandate as at the Record Date, in either
Australian Dollars, New Zealand Dollars or pounds sterling, as
specified in such Electronic Payment Mandate;
(ii) to Virgin Money
CDI Holders in respect of whom Computershare does not hold an
Electronic Payment Mandate as at the Record Date:
a. where such
Virgin Money CDI Holder has a registered address in the United
Kingdom entered on the CDI Register, by
cheque in pounds sterling;
b. to all other
Virgin Money CDI Holders, by cheque in Australian Dollars;
and
(iii) to all Virgin Money
Ordinary Shareholders (other than CDN, the holder of the Virgin
Money Ordinary Shares underlying the Virgin Money CDIs as
depositary nominee), Virgin Money Share Account Holders who hold
Virgin Money Ordinary Shares through the Equiniti Nominee, and
Virgin Money Share Plan Account Holders who hold Virgin Money
Ordinary Shares through the Computershare Nominee, in pounds
sterling.
All Virgin Money Shareholders are
strongly encouraged to set up an Electronic Payment Mandate (if
they have not already done so) to receive their FY 2024 Dividend by
electronic means rather than cheque. Virgin Money Shareholders who
wish to amend their existing Electronic Payment Mandate to receive
payments by electronic means and, in respect of Virgin Money CDI
Holders only, who wish to amend their existing Electronic Payment
Mandate to receive payments in a different currency (with the
relevant options being Australian Dollars, New Zealand Dollars or
pounds sterling), must, in each case, notify Computershare by the
Record Date.
Where the FY 2024 Dividend is to be
paid to a Virgin Money Shareholder in Australian Dollars or New
Zealand Dollars the FY 2024 Dividend will be converted from pounds
sterling to Australian Dollars or New Zealand Dollars at the
relevant exchange rate applicable to pounds sterling at 11.00 (BST)
on 1 July 2024.
The attention of Virgin Money
Shareholders is drawn to paragraph 14(A) of Part 2 (Explanatory
Statement) of the Scheme Document which provides further details on
the applicable exchange rates and instructions for any Virgin Money
Shareholder who wishes to amend their payment
instructions.
As the Company pays tax only in the
UK, the FY 2024 Dividend to be paid to Virgin Money CDI Holders
will be unfranked.
Tax consequences arising from the
receipt of the FY 2024 Dividend will be the responsibility of the
Virgin Money Shareholder to calculate and pay. If in doubt, or if
further information is required regarding possible tax
implications, Virgin Money Shareholders should consult their legal,
financial and / or taxation adviser.
The timetable is as
follows:
Processing suspended for conversion
of ordinary shares to CDIs
|
17.00 (BST) 26 June 2024
to
08.00 (BST) 1 July 2024
|
Processing suspended for conversion
of CDIs to ordinary shares
|
17.00 (AEST) 26 June 2024
to
08.00 (AEST) 1 July 2024
|
Ex-dividend date
|
27 June 2024
|
Record Date for dividend (Virgin
Money Ordinary Shareholders)
|
Close of business in London on 28
June 2024
|
Record Date for dividend (Virgin
Money CDI Holders)
|
Close of business in Melbourne on 28
June 2024
|
FY 2024 Dividend payment
date
|
30 July 2024
|
Announcement authorised for release
by Lorna McMillan, Group Company Secretary.
For further information, please
contact:
Enquiries
Investors and
Analysts
|
|
Richard Smith
|
07483 399303
|
Head of Investor Relations &
Sustainability
|
richard.smith@virginmoney.com
|
|
|
Company
Secretary
|
|
Lorna McMillan
|
07834 585436
|
Group Company Secretary
|
lorna.mcmillan@virginmoney.com
|
|
|
Media
Relations
|
|
Press Office
|
0800 066 5998
|
|
press.office@virginmoney.com
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