LONDON – LAWFUEL – Allen & Overy is advising United Business Media plc (UBM) on the proposed return of approximately GBP203 million to shareholders.
The return of cash will be made through a special dividend. UBM is seeking shareholder approval to consolidate its ordinary share capital, in order to maintain comparability of the share price, earnings and dividend per share before and after the payment of the special dividend.
The Allen & Overy team was led by corporate partner Ian Lopez, assisted by corporate associate Fabienne Parker, trainee solicitor James Bruce and pensions partner Mervyn Parry.
Commenting, Ian Lopez said, “This return of value is consistent with UBM’s stated public policy. It is also the second substantial special dividend which UBM has declared in the last two years. We have advised UBM on both of these substantial returns.”
For further information please contact Karen Levin (Karen.levin@allenovery.com) on +44 (0)20 3088 4341.
