Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Impellam confirms special cash dividend as part of its acquisition

(Sharecast News) - Impellam Group confirmed a special cash dividend on Wednesday, as part of its recommended cash acquisition by Heather Global. The AIM-traded firm inked the acquisition agreement on 13 December.

A shareholder circular detailing the scheme was published on 22 December, and on 17 January, Impellam held both a court meeting and general meeting, which garnered the necessary majorities in favour of all resolutions required to approve and implement the scheme.

In the scheme document, Impellam's board previously stated its intention to declare a special cash dividend of £10m.

Based on the number of shares in issue on 12 December, that equated to 22.4p per Impellam share.

Following the repurchase and cancellation of 35,826 Impellam shares by the company since 13 December, and considering the number of Impellam shares in issue at the close of business on 23 January, which amounted to 44,511,720, the cash dividend had now been adjusted to 22.5p per Impellam share.

At 1326 GMT, shares in Impellam Group were down 1.71% at 860p.

Reporting by Josh White for Sharecast.com.

Share this article

Related Sharecast Articles

Vector Capital reports robust year-end financial position
(Sharecast News) - Commercial lender Vector Capital reported continued growth in shareholders' equity while maintaining dividends and implementing prudent bad debt provision policies in its full-year results on Friday.
Quadrise posts progress with Utah partner Valkor
(Sharecast News) - Quadrise updated the market on its collaboration with Valkor Technologies in Utah on Friday, targeting the supply of low sulphur 'MSAR' and 'bioMSAR' to the marine and power sector.
Clean Power Hydrogen reports solid full-year progress
(Sharecast News) - UK-based green hydrogen technology company Clean Power Hydrogen (CPH2) reported solid progress towards the commercial rollout of its membrane-free electrolyser (MFE) technology in its final results on Friday, driven by a revamped engineering team.
Diesel generators arrive for Goldplat's South Africa operations
(Sharecast News) - South Africa and Ghana-focussed Goldplat announced the arrival of diesel generators at its South African operations on Friday.

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.