Bonus issue of new shares

Tagged in: RNS Announcements
Shareholders unanimously approved the payment of the interim dividend of 3.0pence by way of bonus issue (the "Bonus Issue") at the General Meeting held on 3 December 2020.

The Bonus Shares will be issued to Shareholders who appear on the Company's register of members as at 6pm on 11 December 2020 (the "Bonus Issue Record Time") and the number of Bonus Shares (if any) to which each Shareholder on STV’s register of members as at the Bonus Issue Record Time is entitled, is calculated using the following formula:

a) the number of Ordinary shares held at the Bonus Issue Record Time multiplied by 3.0 pence; divided by
b) the average of the mid-market closing price (in pence) of an STV share on the Daily Official List of the London Stock Exchange for the five consecutive dealing days commencing from and including 3 December 2020 (the “Reference Share Price”).

The Company today announces that the Reference Share Price for the Bonus Issue is 289.2 pence.

No fraction of a Bonus Share will be issued and any fractional entitlements will be aggregated and the Company will procure that the maximum whole number of Bonus Shares resulting there from will be allotted and sold in the market and the net proceeds of sale will be donated by the Company to the STV Children’s Appeal charity.

Under the expected timetable of events, it is intended that the Bonus Shares be issued and admitted to trading on 18 December 2020. 
Jane E A Tames
Company Secretary
10 December 2020