Greencore seeks inclusion in FTSE UK Index Series (3140U)
2011年12月20日 - 7:01PM
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RNS Number : 3140U
Greencore Group PLC
20 December 2011
20 December 2011
Greencore Group plc ("Greencore" or the "Company")
Greencore seeks inclusion in FTSE UK Index Series
In recent years, the profile of the operations of Greencore has
changed from its Irish beginnings to one which now has the majority
of its turnover, operating profits and producing assets derived
from or located in the UK. In addition, the majority of the Group's
shares is now held by overseas investors. Greencore's board
believes that FTSE UK index inclusion would result in a further
increase in UK and international investor awareness of
Greencore.
In July 2011, the Company announced the acquisition of Uniq plc
which has further increased the proportion of its activity in the
UK. At this time, Greencore also announced its intention to seek
FTSE UK Series inclusion. The criteria for inclusion require,
amongst other conditions, a certain liquidity threshold to be met
on the London Stock Exchange ("LSE"). In order to facilitate
meeting this requirement, with effect from the close of business on
20 January 2012, Greencore's Ordinary shares will be cancelled on
the Irish Stock Exchange's Main Securities Market pursuant to
Listing Rule 1.6 (the "Cancellation"). Greencore will retain the
Premium Listing of its Ordinary shares on the Official List of the
United Kingdom Listing Authority and its Ordinary shares will
continue to be traded on the main market for listed securities of
the LSE. The Cancellation is not subject to the approval of
shareholders. Greencore will adhere to the principles of the UK
Corporate Governance Code, pre-emption rights and, as far as
practicable, the UK Takeover Code and will remain subject to all of
the super-equivalent regulatory obligations consequent to its
continued Premium Listing on the LSE. Accordingly the Cancellation
will have no material effect on the shareholder rights and investor
protections currently applicable to an investment in Greencore.
As a result of this change, Greencore anticipates it should be
eligible for the FTSE UK Index Series, provided it maintains the
Premium Listing of its Ordinary shares on the LSE, trades those
shares in Sterling (GBP) pence and meets the FTSE requirements
prior to the FTSE quarterly review on 7 March 2012.
From 20 January 2012, Greencore ordinary shares listed on the
LSE will trade in Sterling (GBP) pence rather than in Euro. There
will be no impact on the amount or the timing of any dividend
payments as a result of the Cancellation. As of 6 December 2011,
the reporting currency of Greencore was changed to Sterling (GBP)
and going forward, dividends will be declared in Sterling (GBP);
existing procedures regarding currency elections will remain in
force.
The FTSE Nationality Committee, which considers the
qualification of shares for index eligibility, meets on 7 February
2012. The FTSE European/Middle East/Africa Regional Committee,
which considers shares for index inclusion, meets on 7 March 2012.
Subject to the independent deliberations of the FTSE committees,
Greencore would expect to be included in the FTSE All-Share and the
FTSE Small-Cap Indices from the start of business on 19 March
2012.
FOR FURTHER INFORMATION PLEASE CONTACT:
Alan Williams Chief Financial Tel: +353 (0)
Officer 1 605 1018
Anne-Marie Curran Drury Communications Tel: +353 (0)
1 260 5000
Greg Lawless or Lisa Powerscourt Tel: +44 (0)
Kavanagh 20 7250 1446
Greencore Group
-- A leading international producer of convenience food
-- Strong market positions in the UK convenience food market
across sandwiches, chilled prepared meals, chilled
soups and sauces, ambient sauces and pickles, cakes and desserts
and Yorkshire puddings
-- Extending presence outside the UK with an emerging
convenience food business in the US
This information is provided by RNS
The company news service from the London Stock Exchange
END
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