Shareholders of the London Stock Exchange plc have approved its plan to return capital to shareholders.

At an Extraordinary General Meeting held earlier today, shareholders of the exchange approved the resolutions relating to the proposed return of approximately £510 million to shareholders.

The idea was initially proposed in part to fend off a takeover offer from Australia’s Macquarie Bank earlier this year. The LSE has since also rebuffed an offer from Nasdaq, which subsequently bought a 15% stake in the exchange. Takeover talk continues to swirl around the LSE.

Under the plan, shareholders will receive one B Share in exchange group with a value of 200 pence for every existing ordinary share, and three new ordinary shares for every four existing ordinary shares. The intention behind issuing a smaller number of new ordinary shares for existing ordinary shares is that the price of a new ordinary share should be approximately equal to the price of an existing ordinary share, thus facilitating comparisons of the exchange’s share price, earnings per share and dividend per share before and after the return of capital, the LSE explained.

Subject to court approval at a hearing expected to take place on May 12, trading in the New Ordinary Shares and B Shares of London Stock Exchange Group plc are expected to commence on May 15.