Stagecoach Group announced on 14 March 2007 proposals to return approximately £700 million to shareholders.
The aim of the return of value is to establish a more appropriate and efficient capital structure for the Group, reduce its overall cost of capital and generate further shareholder value. It has also been proposed to make special cash contributions totaling £50 million to the Stagecoach Group Pension Scheme.
These proposals - together with certain other matters, including proposed amendments to the Articles of Association – require the approval of shareholders.
Shareholder approval will be sought at an Extraordinary General Meeting at Stagecoach Group’s registered office at 10 Dunkeld Road, Perth, PH1 5TW, at 12 noon on 27 April 2007.
Full details of the proposals, the notice of Extraordinary General Meeting and the action to be taken by shareholders (PDF, 1.64MB - opens in a new window).
Shareholders can also access a set of common questions and answers on the return of value proposals (PDF, 56KB - opens in a new window).
The result of the EGM and resolution proxy votes (PDF, 7.03KB - opens in a new window).
