Redeemable B shares
In 2000, Elementis started a programme of issuing redeemable B shares instead of issuing a dividend payment. Issuing redeemable B shares instead of dividend payments allowed Elementis to recover previously paid advance corporation tax more quickly.
Future issue of redeemable B shares
In February 2006 The Board decided to recommend the resumption of dividends, as the Group's tax position made it no longer necessary to make distributions in the form of redeemable B shares.
Previously issued redeemable B shares
In November 2006 the Company redeemed all of the Redeemable B shares in issue and the Board has no current plans to issue more.
Information for calculation of capital gains tax
| First day of
trading of redeemable B shares |
2 Nov
2005 |
3 May
2005 |
2 Nov
2004 |
4 May
2004 |
3 Nov
2003 |
2 May
2003 |
2 Nov
2002 |
2 May
2002 |
2 Nov
2001 |
2 May
2001 |
2 Nov
2000 |
| Number of redeemable
B shares issued of 1 penny nominal
value for each ordinary share held |
1.1 |
1.1 |
1.1 |
1.1 |
1.1 |
1.1 |
1.1 |
1.0 |
2.1 |
3.3 |
2.1 |
| Redeemable B
share price on the first day of trading |
0.874p |
0.852p |
0.875p |
0.875p |
0.750p |
0.750p |
0.875p |
0.875p |
0.750p |
0.625p |
0.625p |
| Ordinary share
price on the same day |
64.29p |
48.12p |
32.75p |
35p |
37.37p |
24.75p |
24.75p |
31.5p |
30.0p |
67.0p |
70.0p |
| Apportionment percentage
for the calculation of capital gains
tax: |
|
|
|
|
|
|
|
|
|
|
|
| Ordinary shares |
98.52% |
98.25% |
97.14% |
97.31% |
97.84% |
96.78% |
96.36% |
97.30% |
95.02% |
97.01% |
98.16% |
| Redeemable B
shares (apportioned to the number of
redeemable B shares issued for each
ordinary share held) |
1.47% |
1.74% |
2.86% |
2.69% |
2.16% |
3.22% |
3.64% |
2.70% |
4.98% |
2.99% |
1.84% |
|
