• Privacy policy
  • T&C’s
  • About Us
    • FAQ
    • Meet the Team
  • Contact us
TLE ONLINE SHOP!
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
  • JOBS
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
  • JOBS
No Result
View All Result
The London Economic
No Result
View All Result
Home Prices and Markets

Electra to hand back another £350m and drop private equity from name

Electra to hand back another £350m and drop private equity from name – Electra has completed what it termed as “Phase II” of its strategic review. The conclusions are: Continue to focus on optimising return on shareholder capital. No new investment in current market conditions.  However, should conditions change the Board will consider further investment. A further special […]

Edward Marten by Edward Marten
2017-10-23 16:25
in Prices and Markets
FacebookTwitterLinkedinEmailWhatsapp

Electra to hand back another £350m and drop private equity from name – Electra has completed what it termed as “Phase II” of its strategic review. The conclusions are:

  • Continue to focus on optimising return on shareholder capital.
  • No new investment in current market conditions.  However, should conditions change the Board will consider further investment.
  • A further special dividend of GBP350 million, or 914p per share. This is to be paid on 1 December 2017 to shareholders on the register of members at the close of business on 3 November 2017.
  • Subject to shareholder and regulatory approval, an update of the company’s investment policy to reflect a focus on shareholder returns.
  • Exploring options for reclassification of the company’s current listing.
  • Taxation benefits related to the realisation of assets currently provided through the Investment Trust Company tax status that are being lost are expected to be obtained through the Substantial Shareholding Exemption (SSE) should its listing classification change.
  • Actions will be taken to further simplify the Group’s corporate and underlying partnership structures realising cost and efficiency benefits.
  • The Company intends to change its name to remove the words “Private Equity” to better reflect its revised strategic focus.

The Board intends to convene a general meeting in due course to allow shareholders to vote on these proposals. Shareholders who bought into Electra as a private equity trust will have to decide whether they want to remain invested in the company. They might want to consider asking for a 100% cash exit option.

To qualify for the Substantial Shareholding Exemption, Electra would have to be classified as a trading company (it would need to convince HMRC of this) and any companies it sold would also have to be classified as trading companies. It would have to have held the company for at least 12 months and it must be selling at least 10% of the company’s issued share capital/10% of the economic rights.

ELTA : Electra to hand back another £350m and drop private equity from name

RelatedPosts

Inflation is high, but it’s not here to stay

The boom and bust of Bitcoin: Where next for the turbulent cryptocurrency?

Has Bitcoin bottomed out?

Five reasons why Bitcoin could be stuck in a temporary rut

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

Trending on TLE

  • All
  • trending
Abdollah

‘Rescue us’: Afghan teacher begs UK to help him escape Taliban

CHOMSKY: “If Corbyn had been elected, Britain would be pursuing a much more sane course”

What If We Got Rid Of Prisons?

More from TLE

University Union president sparks controversy for promising to vandalise mural of fallen WWI soldiers because it depicts ‘white men’

Lucky Numbers and Horoscopes for today, 18 September 2021

Tories “allying with UKIP”-Full text of Lord Adonis’ damning resignation letter over Brexit

Jennifer Arcuri lifts lid on four-year affair with ‘cowardly’ Boris Johnson

Two ‘louts’ kicked Asian taxi driver to death after he asked them to stop eating food in cab

Done the Golden Circle? Try Iceland’s Purple Pentagon

Angela Rayner apologises for branding senior Tories ‘scum’

Brew café – Review

More than 400 pubs vanish in England and Wales in 2021

Red wall Tory tells Owen Paterson: ‘You’re a c***’

JOBS

FIND MORE JOBS

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Meet the Team
    • Privacy policy
  • Contact us

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.