Monday, February 12, 2007
HR Owen returning £11.8m to shareholders
HR OWEN is to return capital of about £11.8m to its shareholders.
The refund will reduce the nominal amount of each share to 50 pence, from £1.
The return of capital comes from the sale of the 24 dealerships it has completed since the end of December 2005.
Having completed these disposals, and having repaid H.R. Owen's core bank debt, the board considers that it should now proceed with returning capital to shareholders.
DATED: 12.02.07
FEED: AW
The refund will reduce the nominal amount of each share to 50 pence, from £1.
The return of capital comes from the sale of the 24 dealerships it has completed since the end of December 2005.
Having completed these disposals, and having repaid H.R. Owen's core bank debt, the board considers that it should now proceed with returning capital to shareholders.
DATED: 12.02.07
FEED: AW
