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Guoco to divest Rank shares to comply with listing regulations

5th July 2013 7:59 am GMT

Guoco Group has announced a special interim dividend in specie of approximately 88.84 million shares in Rank Group, in order to comply with the minimum free float requirement of the UK Listing Authority. The Authority requires that 25 per cent of shares in a listed company are in public hands. However, just 18.45 per cent of Rank’s shares are currently publicly held, putting it in breach of regulations.  Guoco’s disposal of 88.84 million shares amount [...]

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