Watchstone Group PLC First Share Premium Reduction & Return of Cash (4119P)
09 Junio 2020 - 5:00AM
UK Regulatory
TIDMWTG
RNS Number : 4119P
Watchstone Group PLC
09 June 2020
Watchstone Group plc
( " Watchstone " or the "Company")
FIRST SHARE PREMIUM REDUCTION AND RETURN OF CASH
Watchstone Group plc (LON:WTG) announces that the High Court of
Justice in England and Wales has made an order approving the
reduction of the Company's share capital under the Companies Act
2006. Details of the reduction of the Company's share premium
account ("First Share Premium Reduction") were set out in the
circular to shareholders dated 9 April 2020 and the proposal was
approved by shareholders at the General Meeting held on 27 April
2020.
The order of the Court will be filed with Companies House today,
and the Share Premium Reduction and proposed return of cash to
Shareholders of 110p per fully paid Ordinary Share held ("First
Return of Cash") will become effective upon registration at
Companies House.
As announced on 29 May 2020, the Company has also invited
shareholders to approve resolutions including those to authorise a
proposed further reduction of the Company's share premium account
("Second Share Premium Reduction") and a proposed return of cash to
shareholders of 40p per fully paid Ordinary Share held ("Second
Return of Cash") at the Annual General Meeting to be held on 24
June 2020.
Expected Timetable of Events
Record Date for the First Return of Cash 6:00 p.m. on 10 June
2020
Ordinary Shares commence trading ex-entitlement 8:00 a.m. on 11 June
to First Return of Cash 2020
Registration of Court Order and Effective anticipated week
Date of First Return of Cash commencing 15 June
2020
Annual General Meeting 1.00 p.m. on 24 June
2020
Dispatch of cheques to shareholders or shareholders' On or around 30 June
CREST accounts credited (as appropriate) 2020
in respect of the First Return of Cash entitlements
Court Hearing to confirm the Second Share 21 July 2020
Premium Reduction (if so approved by shareholders
at the Annual General Meeting)
Record Date relating to the Second Return 22 July 2020
of Cash
Ordinary Shares commence trading ex-entitlement 8.00 a.m. on 23 July
to the Second Return of Cash 2020
Registration of Court Order and Effective anticipated week
Date of the Second Return of Cash commencing 27 July
2020
Dispatch of cheques to shareholders or shareholders' On or around 31 July
CREST accounts credited (as appropriate) 2020
in respect of the Second Return of Cash
entitlements
Notes
These dates are estimates only, being subject to agreement of
hearing dates with the Court. Any changes will be notified to
Shareholders by an announcement on the Regulatory News Service of
the London Stock Exchange.
All references to time in this announcement are to London
time.
Watchstone Group plc Tel: 03333 44804
WH Ireland Limited , Nominated Adviser Tel: 020 7220 1666
and broker
Chris Hardie
Lydia Zychowska
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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