Shareholding & AGMs

B Shares are non-cumulative redeemable preference shares of 0.1p each in the capital of the Company that can, during defined periods, be redeemed for cash. The Company expects to issue B Shares to ordinary shareholders in May and November each year in lieu of a cash dividend.

Please submit your completed TR-1 forms to CompanySecretary@mcbride.co.uk. Should you have any queries please submit these via this email address or call +44 161 203 7487.

Please note that under McBride plc’s £175m Revolving Credit Facility (‘RCF’) as amended and announced on 29 September 2022, McBride is not permitted to redeem or repay any of its share capital. This restriction remains in place until the original maturity date of the RCF in May 2026.

Once the restriction is lifted, you can do one of two things with your B Shares:

1. Redeem all (or part of) your B Shares for cash

You can receive cash, each time the Company makes a payment to shareholders, by completing an Election Form or making an instruction through CREST, depending on whether you hold your ordinary shares in the Company in certificated or uncertificated form. If you hold your ordinary shares in certificated form (i.e. not in CREST) you should return your Election Form to the Company’s Registrar, Link Group, Central Square, 29 Wellington Street, Leeds LS1 4DL, at the earliest opportunity.

If you hold your ordinary shares in uncertificated form (i.e. in CREST) and want to redeem the B Shares being issued to you for cash, you should submit an electronic message through the CREST system.

2. Keep the B Shares

If you make no election at all then you will automatically receive B Shares and you will be sent a B Share certificate (or, if you are holding your ordinary shares through CREST, your CREST account will be credited with B Shares). If you retain B Shares you will receive cash dividends on the B Shares twice a year fixed at 75 per cent of the interest rate known as LIBOR.

B Shares are not listed on the London Stock Exchange and therefore there is no ready market in which you can sell your B Shares, although you can transfer them privately.

No. The Company expects to set redemption dates in May and November each year for so long as B Shares are in issue. If you are issued with a B Share certificate and later want to redeem your B Shares, you will need to complete the form on the reverse of the B Share certificate and return it to the Company’s Registrar, Link Group, Central Square, 29 Wellington Street, Leeds LS1 4DL. Provided the certificate is received by the relevant deadline for that redemption, the shares will be redeemed at 0.1 pence per share on the next redemption date.

Please note, however, that under McBride plc’s £175m Revolving Credit Facility (‘RCF’) as amended and announced on 29 September 2022, McBride is not currently permitted to redeem or repay any of its share capital. This restriction remains in place until the original maturity date of the RCF in May 2026.

A pack of information was issued to shareholders prior to the General Meeting held on 24 March 2011, explaining why the Company wished to adopt the B Share scheme. It also provided information on what shareholders can do with the B Shares and it is available on the Company’s website.

At McBride plc’s General Meeting on 24 March 2011, shareholders approved the issue of non-cumulative redeemable preference shares with a nominal value of 0.1 pence each (B Shares) as a method of making payments to shareholders rather than paying a cash dividend. However, you can still receive cash from the Company provided you complete and return an Election Form by the relevant deadline.

Information regarding the B Share scheme can be found in the booklet entitled „Your Guide to B Shares”. Alternatively you can contact the Company’s Registrar’s helpline on 0371 664 0300 (Calls are charged at the standard geographic rate and will vary by provider. Calls outside the United Kingdom will be charged at the applicable international rate. Lines are open between 09:00 – 17:30, Monday to Friday excluding public holidays in England and Wales), or +44 371 664 0300 if calling from overseas.