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CLS Holdings PLC  -  CLI   

Introduction of Dividend

Released 07:00 08-Feb-2017

RNS Number : 2806W
CLS Holdings PLC
08 February 2017
 

 

 

 

 

CLS Holdings plc

("CLS", the "Company", the "Group")

announces introduction of dividend

and proposed share sub-division

 

CLS Holdings plc announces that it intends to make future distributions to shareholders by way of a twice yearly dividend; this supersedes its previous policy of using tender offer buy-backs.  It is intended that the first dividend will be a final dividend in respect of the year ended 31 December 2016 and announced with the Group's full year results which is expected to be on Wednesday 8 March 2017.

 

In addition, at its Annual General Meeting ("AGM") on 26 April 2017, the Board will recommend a share sub-division of its existing ordinary shares of 25p each into 10 new ordinary shares of 2.5 pence each. Further details of the share sub-division will be set out in the Notice of AGM to be circulated to shareholders on or around 22 March 2017.  If approved, the share sub-division will take place following the payment of the final dividend.

 

Fredrik Widlund, Chief Executive of CLS, commented:

 

"We believe that these changes will make CLS more easily comparable with other listed property companies and a more attractive investment proposition for new shareholders, with the aim of improving liquidity in the Group's shares and broadening the shareholder base."

 

This announcement contains inside information.

 

-ends-

 

For further information, please contact:

 

CLS Holdings plc                                                                            

www.clsholdings.com

Fredrik Widlund, Chief Executive Officer

John Whiteley, Chief Financial Officer

 

+44 (0)20 7582 7766

Liberum Capital Limited

Richard Crawley

Jamie Richards

 

+44 (0)20 3100 2222

Panmure Gordon (UK) Limited

Dominic Morley

Andrew Potts

 

+44 (0)20 7886 2500

 

Elm Square Advisers Limited                                                         

Jonathan Gray

 

+44 (0)20 7823 3695

Smithfield Consultants (Financial PR)                                            

Alex Simmons

+44 (0)20 7360 4900

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Introduction of Dividend - RNS