Forum Archive Index - August 2000

["David Reid" <aspex@ix.net.nz>]

Owns 29% of SVY (about 34M shares)

News reads:

Staveley Industries PLC
7 August 2000


                            STAVELEY INDUSTRIES PLC
                                 ('Staveley')

                          PAYMENT OF SPECIAL DIVIDEND

The Board of Staveley has completed its review of the methods of returning to
shareholders the proceeds of the sale of British Salt, which amounted to £50
million after expenses and net of debt repaid as at 10th April 2000.

There are two practical methods of returning this money to shareholders:
through either a share buy-back or the payment of a special dividend.
Following a consultative process with shareholders, the Board has decided to
pay a special dividend amounting to some £40 million, which is the maximum
that can be paid from the company's distributable reserves.

Accordingly the Board has declared an interim dividend of 34.4p per ordinary
share in respect of the current financial year to 31 March 2001.  The dividend
will be paid on 29 September 2000 to shareholders on the register at the close
of business on 8 September 2000.

The Board will continue to explore ways to distribute to shareholders further
amounts from the British Salt sale proceeds.

The Board continues to believe that there remains scope to improve further the
performance of the Services businesses and in particular at SSNA and Integral.
Significant progress has been made in addressing the major issues that have
faced the Services division and as a result, as stated at the time of our
preliminary results, the Board is confident about the outlook for the current
financial year.

C'mon, Ron

Give us some money!!!

David Reid