Computacenter Plc, the IT equipment supplier from Britain, is planning to return about GBP75 million or US$113 million to its shareholders. The amount is 10.8% of its market capitalization.
With the announcement, Computacenter shares jumped 3% to 456.7 pence at early morning trading on the London Stock Exchange last Friday.
The company focuses on servicing IT equipment as well as provides advice to its customers on IT matters. The move would be done through the release of one class B share for each class A share owned by shareholders. Each class B share is worth about 48.7 pence. Included in the associated consolidation would be the retention of nine ordinary shares in place of every ten shares held by investors.
From there, shareholders can then sell their class B shares to Credit Suisse, the financial adviser of the firm for the price of 48.7 pence per share. If this is not chosen, the shareholder can opt to receive a dividend worth 48.7 pence per share by July 5.
The only limitation to this transaction would be that only US shareholders would be allowed to take the dividend according to Computacenter.
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