SSP Group plc raises £11mln via share placing to offset dividend costs
Last year’s 6p final dividend was scheduled to be paid on Thursday for a £26.8mln outflow
() has raised £11mln via a share placing to investors entitled to last year’s final dividend to offset distribution costs.
Last year’s 6p final dividend was scheduled to be paid on Thursday after shareholders voted and approved it in February, for a £26.8mln outflow.
READ: SSP Group proposes investors to trade dividend for shares as sales crash 95%
The operator of food outlets in airports and train stations placed 3mln shares at Wednesday’s closing price of 315.2p each, representing 0.7% of the existing issued ordinary share capital.
Senior management also subscribed for new shares.
The company announced the placing on Wednesday to offer existing investors to reinvest capital after sales crashed 95% amid global travel bans.
Shares dipped 2% to 309.75p on Thursday morning.
Read More: SSP Group plc raises £11mln via share placing to offset dividend costs