The Lemon Fool

Some months ago, they announced the sale of their brewing interests.

They always intended to return some or all of the proceeds of sale to shareholders and the scheme returning capital has now been detailed.

https://www.fullers.co.uk/corporate/inv ... f-d-shares

The amount is 12.5 pence per D share, representing 125 pence per A share.

Today's share price is 1060 which is down 11.5% mostly presumably because it's ex rights. The share price range in the last year has been in the range 846 to 1250, so in extremely round numbers the capital return is about 10% of the share value.

Hopefully the website will announce the apportionment factors for CGT purposes.

Proceeds from the capital return were in my account this morning.

15-Nov-2019 / 07:00 GMT/BST
Business Update and Trading Statement
https://www.londonstockexchange.com/exc ... 09344.html

Extracts only (best to read the entirety):

Whilst it was not underestimated that this would be a period of significant transition for the business, the costs associated with carrying the central overhead previously allocated to the Beer Company have transpired to be materially higher than expected, with additional resource required to assist the business through this complex separation period and later As a result of the above, it is anticipated that profit performance for the full year ending 28 March 2020 will be broadly in line with the prior year on a comparable basis, resulting in adjusted profit before tax in the region of £31m.

Disclosure: A very small holding in a SIPP.