In line with its stated intention on 10 March 2006 to de-register from the SEC, Mitchells & Butlers plc (the “Company”) announces that it has today filed a Form 15 with the US Securities & Exchange Commission (“SEC”). The filing of the Form 15 means that the Company's SEC reporting obligations are immediately suspended. De-registration will occur 90 days after 24 August 2006 or on such earlier date as the SEC may determine. As a result, the Company will no longer file an annual report on SEC Form 20-F or periodic reports on SEC Form 6-K with the SEC. In future US resident shareholders, in common with the Company's other shareholders, should access reports the Company prepares and publicly discloses in accordance with English legal and regulatory requirements in order to obtain information on the Company.
To enable de-registration and to avoid re-commencement of SEC reporting requirements, the number of the Company’s US resident shareholders must remain below 300 at each financial year end. At the Annual General Meeting held on 2 February 2006, shareholders voted to amend the Company’s Articles of Association to give the Company’s directors the ability to limit the number of US residents holding Mitchells & Butlers plc ordinary shares. The directors of Mitchells & Butlers plc are able to require US resident shareholders holding 20,000 ordinary shares or less, whether directly or through nominees, to compulsorily sell their ordinary shares to non US residents.
The Company exercised its right to require the sale of shares held by US residents in May 2006 and again in July 2006. The Company has put in place a standing instruction to its broker to automatically effect such compulsory sales throughout 2006 and 2007 without further involvement from the Company.
Director of Investor Relations
Tel: +44(0)121 498 5092
Head of Secretariat
Tel: +44(0)121 498 4189