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LONDON - Unite Group PLC (LSE:UTG) reported that shareholders representing 10.31% of the company’s share capital elected to receive their 2025 interim dividend in the form of new shares rather than cash, according to a press release issued Friday.
The student accommodation provider said it received scrip dividend elections for 50,485,651 shares, which will result in the issuance of 602,016 new ordinary shares, representing approximately 0.12% of the current issued share capital. The new shares will be issued at a price of 709.50 pence each, the previously announced Scrip Reference Share Price from September 25.
The company stated that applications will be made to the UK Financial Conduct Authority and London Stock Exchange for the new shares to be admitted to trading, with admission expected on October 31. Following the issuance, Unite Group’s total number of shares in issue and voting rights will increase to 490,043,571.
Shareholders who elected for scrip dividend shares will receive share certificates by mail, while those holding shares in CREST accounts will have their accounts credited directly on October 31.
The new shares will rank equally in all respects with the company’s existing ordinary shares, according to the statement.
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