Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks IPOs and placings
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Ascential lays out plans to return £850m to shareholders
(Sharecast News) - Ascential expanded on its plans to return £850m to shareholders on Thursday, involving a tender offer to acquire up to £300m of Ascential shares, a special dividend of at least £450m, and on-market share buyback programmes to acquire £100m of Ascential shares. The FTSE 250 company said the initiatives were part of its strategy to optimise shareholder returns and enhance shareholder value.
It said resolutions pertaining to the tender offer and share consolidation would be presented to shareholders at a general meeting on 22 April.
The tender offer, set to return up to £300m to shareholders, would allow shareholders to tender their shares at a price between 315p and 331p per share, determined via a 'Dutch auction'.
Ascential said the tender offer, contingent on shareholder approval, was expected to open on 5 April and close on 3 May.
The special dividend meanwhile aimed to return at least £450m to shareholders.
If the tender offer was undersubscribed, the special dividend would be adjusted accordingly to ensure a total return of £750m between the tender offer and the special dividend.
The special dividend was set to be paid on 3 June.
Finally, the share consolidation was proposed to become effective on 20 May, following the tender offer closing date and the expected declaration of the special dividend.
The share consolidation aimed to maintain the comparability of Ascential's share price and per-share metrics before and after the special dividend, reflecting the value returned to shareholders.
Additionally, a share buyback programme not exceeding £100m would be underway following the conclusion of the tender offer and special dividend.
Any shares repurchased would be cancelled, reducing Ascential's share capital.
At 0845 BST, shares in Ascential were up 3.87% at 317p.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.