Speciality retail jeweller Signet like for like sales up 5.4% in Q3
06 Nov '06
3 min read
The Directors will therefore seek shareholder approval for Signet Group plc (the "Company") to redenominate its share capital into US dollars at an extraordinary general meeting of shareholders on 12 December 2006.
The redenomination, which is also subject to Court approval, is expected to be effective on 5 February 2007. Dealings in the new dollar denominated shares should therefore commence at 8.00 a.m. on 5 February 2007.
As a consequence of the above changes, the Company anticipates that its functional currency will change to US dollars from the commencement of its next fiscal year.
In addition, future dividends will be declared in US dollars, but for those shareholders with a UK address or who so elect, dividends will continue to be paid in sterling.
The Company will continue to be registered and have its headquarters in England and will maintain its primary listing on the London Stock Exchange, with the shares quoted in sterling.
It will also maintain a listing on the New York Stock Exchange, with the American Depositary Receipts quoted in US dollars.
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