Circular and notice of EGM

14 Jun 2007

 

Further to the announcement made on 10 May, 3i Group plc ("3i" or "the Company") is today posting to shareholders a circular regarding a proposed bonus issue of listed B shares and share capital consolidation (the "Circular"), including notice of an Extraordinary General Meeting of the Company (the "EGM"). The EGM has been convened for Wednesday 11 July, immediately following the Company's Annual General Meeting on that date, at The Queen Elizabeth II Conference Centre, Broad Sanctuary, Westminster, London SW1P 3EE.

Key points relating to the proposals are as follows:

  • Return to Shareholders of 174.625p per Existing Ordinary Share, which equates to around £807 million in aggregate. Shareholders to receive 11 B Shares (with a notional value of 127p each) for every 8 Existing Ordinary Shares held.
  • A share consolidation will be undertaken in order to reflect the return of value represented by the issue of the B Shares, under which the Existing Ordinary Shares will be consolidated and subdivided such that Shareholders will receive: 17 Consolidated Ordinary Shares for every 20 Existing Ordinary Shares held.
  • The proposals have also been designed with the objective of giving UK tax resident individual Shareholders, where possible, the flexibility to receive their return as capital or income for UK tax purposes, or a combination of the two.

 

Key expected dates are as follows:

11 July 2007 at 10.45 am (or as soon as possible thereafter as the AGM either concludes or is adjourned) 
EGM

13 July 2007 at 4.30 pm
Latest time and date for receipt of Brokers' Offer Forms of Election

13 July 2007 at 6.00 pm
Record Date (for consolidation of Existing Ordinary Shares and entitlement to New B Shares) 

16 July 2007 at 8.00 am
Admission of New B Shares and Consolidated Ordinary Shares

23 July 2007 at 8.00 am
Brokers' Offer expected to be completed

17 August 2007 at 4.30 pm
Latest time and date for receipt of Company Offer Forms of Election

20 August 2007 at 8.00 am 
Company Offer expected to be completed

Application will be made to the UK Listing Authority for the Consolidated Ordinary Shares and the New B Shares to be admitted to the Official List and to the London Stock Exchange for the Consolidated Ordinary Shares and the New B Shares to be admitted to trading on the London Stock Exchange's main market for listed securities.

A copy of the Circular, the Form of Proxy and the Brokers' Offer Forms of Election have been submitted to the UK Listing Authority and will shortly be available for inspection at the UK Listing Authority's Document Viewing Facility, which is situated at:

Financial Services Authority 
25 The North Colonnade 
Canary Wharf 
London E14 5HS

Further information and a copy of the Circular can be found on 3i's Investor Relations website, http://www.3igroup.com/

Defined terms used in this announcement shall bear the meanings given in Part 10 (Definitions) of the Circular.

For further information, please contact:

3i Group plc
Patrick Dune, Group Communication Director
Tel:  020 7975 3283