What is the timetable for the acquisition of my shares as part of Brookfield’s acquisition of HomeServe?
The expected timetable of principal events is set out below, but is subject to change. If any changes to the key dates and/or times set out in the timetable are made, HomeServe will give notice of the change(s) by issuing an announcement through a Regulatory Information Service and by making such announcement available on HomeServe’s website at www.HomeServeplc.com/investors/offer-for-HomeServe-plc.
Time and/or date
Scheme Court Hearing
21 December 2022
Last day for dealings in, and for the registration of transfer of, HomeServe Shares
3 January 2023
Scheme Record Time
6:00 p.m. on 3 January 2023
Disablement of CREST in respect of HomeServe Shares
6:00 p.m. on 3 January 2023
Suspension of dealings in HomeServe Shares
by 7:30 a.m. on 4 January 2023
Effective Date of the Scheme
4 January 2023
Cancellation of listing of HomeServe Shares
by 7:30 a.m. on 5 January 2023
Latest date for despatch of cheques and crediting of CREST accounts and processing electronic transfers for cash consideration due under the Scheme
18 January 2023
Long Stop Date (1)
20 February 2023
(1) This is the latest date by which the Scheme may become Effective. However, the Longstop Date may be extended to such later date as may be agreed by HomeServe and Bidco with the Panel’s consent and as the Court may approve (if such consent and/or approval is required) or if the Panel requires an extension to the Longstop Date pending final determination of an issue under section3(g) of Appendix 7of the Takeover Code.
How are dividends taxed?
In the UK, tax is paid on any dividends that exceed the annual dividend allowance in the tax year (from 6 April to 5 April the following year). The rules are different for dividends from tax years before April 2016.
For further information, including the current dividend allowance, please see HMRC guidance at
Has the company had any capital reorganisations?
HomeServe plc was previously called South Staffordshire Group plc. The original South Staffordshire shares were split on a 10 for 1 basis in July 1999.
On 6 April 2004 the Company demerged its water supply business and changed its name to HomeServe plc. Shareholders received 1 share in the newly listed water supply business, which was known as South Staffordshire plc and 5 shares in HomeServe plc for every 5 shares that they held. HomeServe plc shares were then immediately consolidated on a 4 for 5 basis so in effect, all shareholders received 1 share in South Staffordshire plc and 4 shares in HomeServe plc for every 5 shares held.
South Staffordshire plc was subsequently taken over and delisted.
On 30 July 2010, shareholders of HomeServe plc approved a split of the Company’s shares which was effective on 2 August 2010. Each HomeServe share was split on a 5 for 1 basis and the share price was reduced accordingly; in effect it was divided by 5. If you held shares, the number you held increased by a multiple of 5 although (subject to market movement) this change had no impact on the value of your holding.
On 17 July 2015, shareholders approved payment of a special dividend of 30 pence per share and a consolidation of the Company’s shares. The consolidation took effect on 20 July 2015 and it replaced every 14 existing ordinary shares with 13 new ordinary shares.
On 19 October 2017 a total of 15,243,903 new ordinary shares were placed at a price of 820 pence per share, raising gross proceeds of approximately £125 million. The placing represented, in aggregate, approximately 4.9 per cent of HomeServe's issued ordinary share capital prior to the Placing. The issue price of the Placing represented a discount of 1.4% to the closing share price on 18 October 2017. The Placing Shares were credited as fully paid and rank pari passu with the existing ordinary shares in the capital of the Company including the right to receive all future dividends and distributions declared, made or paid after the date of issue of the Placing shares.