Integra Announced Distribution of Dividend in Specie
OREANDA-NEWS. December 18, 2012. Unless defined otherwise, all capitalized terms in this announcement are as defined in the circular distributed to Integra Group Shareholders on 9 November 2011 (the “Circular”) which is available from the Company's website, http://www.integra.ru/eng/investors/corporate_actions/, under the header “Extraordinary General Meeting,
December 5, 2011”.
Distribution of Dividend in Specie
Integra Group (LSE: INTE) (“Integra Group” or the “Company”) announces that following the admission of
IG Seismic Services Limited (“IGSS”) to the Official List maintained by the UK Listing Authority and to trading on the London Stock Exchange’s main market, Integra Group distributed on 11 December 2012 its entire stake of 36% in IGSS in the form of a Dividend in Specie to its Eligible Holders in proportion to such Eligible Holders’ respective holdings in Integra Group.
Based on the total number of issued shares of the Company as of the Record Date (19 October 2012), the Dividend in Specie was distributed based on the following ratios:
0.80734 of an IGSS Share per each Integra Group Class A Common Share
0.02018 of an IGSS GDR per each Integra Group GDR
Mandatory Certification Results
A mandatory certification process involving certain representations, warranties and confirmations regarding the eligibility of holders to receive the Dividend in Specie was conducted prior to the dividend distribution. Based on the results of such certification:
94.1% of Integra Group shareholders were distributed the Dividend in Specie based on the aforementioned ratios; and
5.9% of Integra Group shareholders will receive cash in lieu of IGSS GDR’s or IGSS Shares via the Dividend Cash Out Facility.
Dividend Cash Out Facility
The Dividend Cash Out Facility is reliant entirely upon the market price available for the IGSS GDRs on the London Stock Exchange. Holders of Integra GDRs who are part of the cash out facility will receive their proportionate share of the Net Proceeds only after the cash out process is fully completed. Neither Integra Group nor the Integra Group Depositary is able to determine nor guarantee what any such cash amount will be or when the cash out process will be completed. We refer to the Circular for further information with respect to the risks associated with and procedures in place with respect to those holders who will receive cash in lieu of IGSS GDRs or IGSS Shares, as the case may be.
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