Andrews Sykes Group PLC Special Dividend (9464T)
24 Julho 2020 - 3:00AM
UK Regulatory
TIDMASY
RNS Number : 9464T
Andrews Sykes Group PLC
24 July 2020
24 July 2020
Andrews Sykes Group PLC
("Andrews Sykes" or the "Company")
Special Dividend
The board of Andrews Sykes (the "Board") is pleased to announce
that it has approved the payment of a special interim dividend of
approximately GBP10 million or 23.7 pence per Ordinary Share (the
"Special Dividend").
As at 22 July 2020, the Company had net cash reserves* of
approximately GBP29.9 million. The Board has assessed the Company's
ongoing cash requirements under a range of forecast scenarios and
has concluded that, as a result of the Company's expected robust
cash generation, a portion of these cash reserves is surplus to the
Company's requirements. The Board has, therefore, decided to return
such surplus capital to Andrews Sykes shareholders by way of the
Special Dividend.
The Company intends to pay the Special Dividend on 28 August
2020 to Andrews Sykes shareholders on the register on 7 August
2020. The Ordinary Shares will be marked ex dividend on 6 August
2020. The Special Dividend will be funded from the Company's
existing cash balances.
* defined as cash at bank less bank loans before IFRS 16
right-of-use lease obligations
Enquiries:
Andrews Sykes Group plc +44 (0)1902 328 700
Paul Wood
GCA Altium Limited (Nominated
Adviser) +44 (0) 20 7484 4040
Tim Richardson
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END
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July 24, 2020 02:00 ET (06:00 GMT)
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