Young & Co proposes four-for-one share split

Young & Co, the south London-headquartered pubco, is proposing a four-for-one share split to increase liquidity in trading of the group's stock.

"Following simplification of the company's share structure in 2005, the board has continued to consider ways to improve further the capital structure," the group said in a statement.

"In light of this, the board has concluded that a share split has a number of potential benefits for shareholders, including moving the share prices into a more normal range and improving liquidity in the company's shares."

Young's said it believed a share split "should help attract and retain a diverse shareholder base".

The Young's family and associated trusts hold 40 per cent of the group's stock, while Guinness Peat, the investment group, holds 10 per cent. The remaining shares are held by a variety of smaller investors.

The share split proposals consist of each existing 'A' ordinary share of 50p be sub-divided into four new 'A' ordinary shares of 12.5p each, and each existing non-voting ordinary share of 50p be sub-divided into four new non-voting ordinary shares of 12.5p each.

Holders of 'A' shares will be asked to vote on the split plan at a meeting on February 20.

Trading in the new shares is expected to commence on AIM on February 28, when existing shares will be cancelled.

Young's shares were up 70p today, at 1,937.5p.