UK: AG Barr to hold meeting for share subdivision

By just-drinks.com editorial team | 27 August 2009

AG Barr, producer of Irn-Bru, plans to subdivide its share capital in order attract more investment.

The soft drinks maker will hold a general meeting for shareholders at its Edinburgh offices on 18 September to discuss the plan, it said yesterday (26 August).

It is proposed that each of the company's issued and to be issued ordinary shares of GBP0.25 (US$0.40) each be subdivided into two ordinary shares of GBP0.125 each.

The share subdivision will double the number of ordinary shares in issue and, the board believes, may improve the liquidity and marketability of the ordinary shares.

The board also believes that the share subdivision may enable the company to attract more private investors and broaden its shareholder base.

If approved, the official list of the UK Listing Authority will be amended to reflect the share subdivision with effect from 21 September and new share certificates will be sent to the holders of certificated shares following the effective date.

The company expects to announce its interim results for the six months ended 1 August on 29 September.

Sectors: Soft drinks

Companies: AG Barr