Redemption of all outstanding B Shares and Final B Share Dividend payment

Marks and Spencer Group plc (the “Company”) announces that on 5 May 2006 (the “Redemption date”) the Company will redeem (the “Redemption”) all outstanding B shares (the “B Shares”) remaining in issue at par value (70 pence).

As at 27 March 2006 there are 78,184,314 B Shares still in issue, with a total value of £54,729,019.80.

The decision by the Company to redeem all outstanding B Shares is consistent with the rights and restrictions attaching to the B Shares contained in the circular sent to shareholders in February 2002 prior to approval at the Extraordinary General Meeting of the Company on 28 February 2002.

• A copy of this circular can be found under the Shareholder Information section on the Company website at www.marksandspencer.com/investorrelations

Holders of the B Shares (“B Shareholders”) will be entitled to receive a dividend in respect of their B Shares for the period 26 March to 4 May 2006 (the “B Share Dividend”).

The B Share Dividend is payable at a rate of 75% of LIBOR (London Inter Bank Offer Rate) in respect of the period 26 March to 4 May 2006. The B Share Dividend rate will be 0.2667 pence per B Share.

The Redemption proceeds and the B Share Dividend will be paid to holders of B Shares in whose names the relevant B Shares are registered at the close of business on the record date of 21 April 2006.

An explanatory letter containing further details of the Redemption has been sent to B Shareholders.

Timetable of Events

All B Shares will be cancelled following the Redemption and will not be reissued. No further dividends will be payable to B Shareholders.

For further information please contact
Anthony Clarke – Corporate Governance – 020 8718 9940
Clair Foster – Corporate Press Office – 020 8718 8323

Back to press releases index

Back to top