Hanson - Apportionment on Demerger of The Energy Group on 24 February 1997
and the subsequent Hanson share Consolidation.

  1. For Capital Gains Tax, the tax base cost of Hanson PLC shares held 24 February 1997 should be apportioned between the two shareholdings after the demerger: Hanson and The Energy Group PLC.
  2. The shares in The Energy Group PLC were distributed in the ratio of one The Energy Group PLC share for every 10 Hanson shares held.
  3. The apportionment is calculated by reference to the relevant prices of Hanson and US Industries shares on 24 February 1997:
         Hanson 276.5p
         The Energy Group PLC 550p
  4. Thus the tax base cost of Hanson shares held on 24 February 1997 should be divided as follows:-
         Hanson                                38.59%
          The Energy Group PLC       61.41%
  5. The Hanson shares were consolidated in the ratio of one new consolidated share for every 8 Hanson old shares held.