Aviva PLC (LSE:AV.) confirmed that the share redemption process will occur today, as part of its £3.75bn shareholder return plan.
As part of the process explained on Monday, holders of ordinary shares entitled to receive payments in respect of the proceeds from the redemption of the B shares will receive payment by 31 May, and the holders of American depositary shares representing ordinary shares (ADSs) will receive payment by 6 June.
The life insurance group yesterday issued a new 'B share' for every existing share and then today will redeeming them for 101.69p apiece.