Invensys plc confirmed its intention to return approximately £625 million of the cash proceeds received from the Company's recent disposal of its Rail Division to Siemens through a return of 76.7 pence per Existing Ordinary Share to Shareholders on the register as at 6.00 p.m. on 11 June 2013. The Return of Cash has been structured to allow Shareholders, subject to applicable overseas restrictions, to elect to receive their proceeds as immediate income, immediate capital, deferred capital or any combination of the three (the Alternatives). Shareholders, subject to restrictions in respect of US Shareholders and Shareholders with a registered address in a Restricted Territory or who are resident or located in a Restricted Territory, can elect to receive their cash proceeds of 76.7 pence per Existing Ordinary Share as (i) an immediate income payment, (ii) an immediate capital payment, (iii) a capital payment deferred until after 6 April 2014, or (iv) any combination of the above. Shareholders who do not make a valid election, and all US Shareholders and other Restricted Shareholders, will be deemed to have elected for the Income Option in respect of ALL of their Return of Cash Entitlement. The Return of Cash is conditional upon shareholder approval, which will be sought at a general meeting of the Company to be held at 11.00 a.m. on 10 June 2013. Cheques are expected to be despatched to Shareholders and payment by BACS are expected to be made by 3 July 2013 for the Income Option. Cheques are expected to be despatched to Shareholders and CREST accounts are expected to be credited by 3 July 2013 for the Immediate Capital Option; and cheques are expected to be despatched to Shareholders and CREST accounts are expected to be credited by 21 April 2014 for the Deferred Capital Option.

Invensys plc announced audited consolidated earnings results for year ended March 31, 2013. For the period, the company reported revenue of £1,792 million, operating profit of £43 million, profit before taxation of £15 million, profit after taxation - continuing operations of £4 million or 0.1 pence per basic and diluted share, profit attributable to equity holders of the parent of £125 million or 15.3 pence per diluted share as compared to revenue of £1,764 million, operating profit of £60 million, profit before taxation of £47 million, profit after taxation - continuing operations of £39 million or 4.7 pence per basic and diluted share, profit attributable to equity holders of the parent of £38 million or 12 pence per diluted share for the same period prior year. Net cash flows from operating activities were £179 million as compared to £65 million for the same period prior year. Purchase of property, plant and equipment was £5 million. Underlying earnings per share were 8.5 pence compared to 5.3 pence for the same period prior year. The company said it does not see any significant changes to general market conditions but anticipate improved performance due to the continued growth in the company’s higher-margin segments, especially software, and the benefits of the group reorganization. Free cash flow generated was £106 million as compared to free cash flow used of £11 million for the same period prior year. The company recommended final dividend of 2.85 pence per share, amounting to £23 million, which brings the total dividends payable in respect of the year ended 31 March 2013 to 4.6 pence per share compared to 4.4 pence per share a year ago, an increase of 5%. Previous year’s final dividend was 2.75 pence. Subject to approval by shareholders at the annual general meeting on 25 July 2013, the final dividend will be payable on 2 August 2013 to shareholders on the register at 21 June 2013. A dividend reinvestment plan (DRIP) is available for this final dividend, which will enable shareholders to reinvest their dividends directly into Invensys shares.  The company provided tax rate guidance for the fiscal 2014. For the year, the company expects effective tax rate to be circa 20%.

Invensys plc, 2013 Earnings Call, May 16, 2013