Ascential (ASCL)

Sector:

Media

Index:

FTSE 250

340.00p
   
  • Change Today:
      4.50p
  • 52 Week High: 548.08
  • 52 Week Low: 317.50
  • Currency: UK Pounds
  • Shares Issued: 204.98m
  • Volume: 1,227,872
  • Market Cap: £696.92m
  • RiskGrade: 204

Ascential lays out plans to return £850m to shareholders

By Josh White

Date: Thursday 04 Apr 2024

LONDON (ShareCast) - (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.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Ascential Market Data

Currency UK Pounds
Share Price 340.00p
Change Today 4.50p
% Change 1.34 %
52 Week High 548.08
52 Week Low 317.50
Volume 1,227,872
Shares Issued 204.98m
Market Cap £696.92m
RiskGrade 204

Ascential Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
9.15% below the market average9.15% below the market average9.15% below the market average9.15% below the market average9.15% below the market average
28.89% above the sector average28.89% above the sector average28.89% above the sector average28.89% above the sector average28.89% above the sector average
Price Trend
58.4% below the market average58.4% below the market average58.4% below the market average58.4% below the market average58.4% below the market average
31.91% below the sector average31.91% below the sector average31.91% below the sector average31.91% below the sector average31.91% below the sector average
Income Not Available
Growth
88.14% below the market average88.14% below the market average88.14% below the market average88.14% below the market average88.14% below the market average
76.74% below the sector average76.74% below the sector average76.74% below the sector average76.74% below the sector average76.74% below the sector average

Ascential Dividends

  Latest Previous
  Special Interim
Ex-Div 20-May-24 29-Aug-19
Paid 03-Jun-24 27-Sep-19
Amount 128.60p 1.80p

Trades for 18-Jun-2024

Time Volume / Share Price
16:35 165,183 @ 340.00p
16:35 722 @ 340.00p
16:35 1,023 @ 340.00p
16:35 1,686 @ 340.00p
16:35 5,373 @ 340.00p

Ascential Key Personnel

Chair Scott Forbes
CFO Mandy Gradden
CEO Philip Thomas

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