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SPLIT: Vodafone Group Plc (VOD) reverse stock split and special distributions

SPLIT: Vodafone Group Plc (VOD) reverse stock split and special distributions

Issue:

Vodafone Group Plc [VOD] has effected a reverse stock split, and issued a special dividend in addition to its regular interim dividend.

Cause:

As of 7/31/06, VOD had a reverse stock split, whereby each shareholder received 7 new shares in exchange for each 8 shares owned. Cash was paid in lieu of any fractional shares. As of 8/17/06, a special dividend in the approximate amount of $2.83 for each ADS owned was paid. The company has issued a circular describing the above events which can be found at http://www.vodafonejourney.com/IR_downloads/vf_egm_circular_2006.pdf

In addition, the company paid its regular final dividend for fiscal 2006 on 8/4/06 in the amount of .7065 for each ADS owned.

Resolution:

As of 7/31/06, enter a reverse 7 for 8 stock split for VOD. Enter any cash received in lieu of dividends.

As of 8/4/06 record the regular final dividend for fiscal year 2006, amounting to .7065 per ADS owned.

As of 8/17/06, record the special dividend of approximately $2.83 per ADS owned.



 
  
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