LONDON - LondonMetric (LON:LMPL) Property Plc will issue 801,963 new ordinary shares as part of its scrip dividend scheme, the company announced today. The shares, each with a nominal value of 10 pence, are to be admitted to the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange (LON:LSEG) (LSE) on Monday, January 13, 2025.
This move follows the company's declaration of a second quarterly interim dividend of 2.85 pence per ordinary share, payable to shareholders registered by the close of business on December 6, 2024. Shareholders had the option to receive this dividend in the form of additional shares instead of cash, in accordance with the terms of the company's scrip dividend scheme.
The new shares will rank equally with the existing issued shares of the company. After the admission of the new shares, LondonMetric Property Plc's issued share capital will consist of 2,048,108,416 ordinary shares, each carrying one vote. The company has confirmed that no shares are held in Treasury, making the total voting rights in the company equal to the number of ordinary shares. This figure is relevant for shareholders who need to disclose changes in their shareholding according to the Disclosure Guidance and Transparency Rules.
The issuance of these shares is a common practice for companies looking to offer shareholders an alternative to cash dividends, potentially conserving cash for other uses within the company. It also allows shareholders to increase their stake in the company without incurring transaction costs.
The details of the scrip dividend scheme are available on the company's investor relations website. This share issuance is based on a press release statement from LondonMetric Property Plc.
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