Pinewood Technologies Group (PINE)

Sector:

Retailers

Index:

FTSE Small Cap

342.50p
   
  • Change Today:
    -2.50p
  • 52 Week High: 795.00
  • 52 Week Low: 290.00
  • Currency: UK Pounds
  • Shares Issued: 87.12m
  • Volume: 1,168,161
  • Market Cap: £298.37m

Pinewood Technologies to return £358m to shareholders

By Josh White

Date: Friday 05 Apr 2024

LONDON (ShareCast) - (Sharecast News) - Pinewood Technologies announced a significant return of value to shareholders on Friday, following the disposal of its UK motor and leasing business to Lithia, as it announced on 1 February.
The company, formerly known as Pendragon, published a circular outlining a proposal to return around £358m in cash to shareholders through a special dividend of 24.5p per existing share.

It also proposed a consolidation of its ordinary share capital.

Pending the approval of resolutions by shareholders at a planned general meeting, the company said the dividend was expected to be paid on 7 May to shareholders registered by the end of business on 22 April.

Under the proposed capital reorganisation, one new share would be issued for every 20 existing shares, subject to fractional entitlements.

The firm said the restructuring would reduce the number of ordinary shares held by shareholders, while maintaining the proportion of the company's issued share capital held.

Despite having a different nominal value, the new shares would trade on the London Stock Exchange on par with the existing shares, and carry the same rights under the articles of association.

The general meeting convened for shareholders to approve the relevant resolutions was scheduled for 22 April.

At 1250 BST, shares in Pinewood Technologies Group were down 0.29% at 38.79p.

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.

 

PINE Market Data

Currency UK Pounds
Share Price 342.50p
Change Today -2.50p
% Change -0.72 %
52 Week High 795.00
52 Week Low 290.00
Volume 1,168,161
Shares Issued 87.12m
Market Cap £298.37m

PINE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
49.76% below the market average49.76% below the market average49.76% below the market average49.76% below the market average49.76% below the market average
52.38% below the sector average52.38% below the sector average52.38% below the sector average52.38% below the sector average52.38% below the sector average
Income Not Available
Growth
8.68% below the market average8.68% below the market average8.68% below the market average8.68% below the market average8.68% below the market average
9.52% above the sector average9.52% above the sector average9.52% above the sector average9.52% above the sector average9.52% above the sector average

PINE Dividends

  Latest Previous
  Special Final
Ex-Div 23-Apr-24 18-Apr-19
Paid 07-May-24 30-May-19
Amount 24.50p 0.70p

Trades for 13-Dec-2024

Time Volume / Share Price
11:36 75,000 @ 343.00p
10:48 100,000 @ 343.00p
10:54 46,896 @ 343.00p
10:55 68,000 @ 343.00p
11:35 100,000 @ 343.00p

PINE Key Personnel

CEO William Berman
CFO Oliver Mann

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