On 2 March 2015 the Company announced a return of capital to its shareholders through the issue of ‘E’ and ‘F’ Shares. This includes the following elements:
Final dividend equivalent of 15.0p per share taking total dividend for the year to 22.5p, an increase of 7.1% (2013: 21.0p).
Additional special distribution of 45.0p per share (approx. £144 million) combined with share consolidation.
As outlined on page 47 of the Circular, a shareholder’s original base cost in his Existing Ordinary shares is apportioned between the New Ordinary Shares and the F Shares by reference to their respective market values on the first day on which the market value is quoted. The price of Hiscox Ltd ordinary shares of 6.5p at close on 26 March 2015 (the first day of dealings in the New Ordinary Shares) was 849p. The deemed value of F shares on that date was 60p. As such, those shareholders who are eligible for UK capital gains tax treatment should allocate 849/909 of their base costs to each of their New Ordinary Shares and 60/909 to each of their F shares.
Below is a link to the shareholder circular setting out full details of the capital return.
For more information, please contact the Capita shareholder helpline on 0208 369 3399 or 0871 664 0321 (Calls cost 10 pence per minute plus network extras)