Future PLC Annual Financial Report (8582J)
15 Diciembre 2022 - 4:51AM
UK Regulatory
TIDMFUTR
RNS Number : 8582J
Future PLC
15 December 2022
Future plc
15 December 2022
Future plc
("Future" or the "Company")
Proposed Capital Reduction and Notice of Annual General
Meeting
15 December 2022
Future announces that later today it will post its annual report
(the "Annual Report") to shareholders, incorporating a notice of
the annual general meeting (the "AGM"), regarding, amongst other
items, a proposed capital reduction. The AGM will be held at 11am
on 8 February 2023.
The proposed capital reduction, if approved by shareholders,
would create additional distributable reserves to provide exibility
for future dividend payments and/or share buybacks. In seeking
approval of the Reduction of Capital, the Directors are not
indicating any commitment, and, at the date of this announcement,
do not have any immediate intention, to make any distributions
(other than the recommended final dividend of 3.4p per share for
the year ended 30 September 2022, payable on 14 February 2023 to
all shareholders on the register at close of business on 20 January
2023, subject to shareholder approval at the AGM on 8 February 2023
as previous ly announced on 30 November 2022), or to buy back any
Ordinary Shares.
The process comprises: (i) the cancellation of the entire amount
standing to the credit of the Company's share premium account (the
"Share Premium Reduction") and (ii) the capitalisation of the
entire amount standing to the credit of the Company's merger
reserve by issuing B ordinary shares in the capital of the Company
and the subsequent cancellation of such B ordinary shares (the
"Merger Reserve Reduction"). The Share Premium Reduction and the
Merger Reserve Reduction together comprise the "Capital
Reduction".
The Capital Reduction is conditional upon the passing of the
resolutions set out in the notice of the AGM by the Company's
shareholders, as well as approval being obtained in the Companies
Court, London (the "Court").
It is expected that the Capital Reduction, if approved by
shareholders and confirmed by the Court, will create additional
distributable reserves to the value of GBP669,820,258.
The Annual Report (including the notice of the AGM) which
amongst other matters, deals with the Capital Reduction, will
shortly be submitted to the FCA's National Storage Mechanism and
will be available for inspection on its website at https :/
/data.fca.or g .uk/#/nsm /nationalstora gemechanism. The Annual
Report (including the notice of the AGM) will also be available for
viewing on the Company's website at www.futureplc.com.
EXPECTED TIMETABLE OF PRINCIPAL EVENTS
Publication of this document 15 December 2022
Latest time and date for receipt 11:00 a.m. on 6 February 2023
of Forms of Proxy
Annual General Meeting 11:00 a.m. on 8 February 2023
Expected date of the first Court on or around 20 February 2023
hearing for initial directions
Capital Reduction Record Time 6.30 p.m. on the Business Day preceding
the Court hearing to confirm the
Reduction of Capital
Expected date of the second Court on or around 14 March 2023 to confirm
hearing the Reduction of Capital
Effective Date of the Reduction Business Day after the Court order
of Capital confirming the Reduction of Capital
Notes:
(1) Each of the times and dates set out above is based on
current expectations and is subject to change. If any of the above
times and/or dates is changed, the revised times and/or dates will
be notified to Shareholders by announcement through a Regulatory
Information Service.
(2) All above references to times are to London (GMT) times.
Enquiries:
Future plc Tel: +44 (0)1225 442244
Zillah Byng-Thorne, Chief
Executive Officer
Penny Ladkin-Brand, Chief
Financial Officer
Marion Le Bot, Head of Investor
Relations
Headland Consultancy (Financial Tel: +44 (0)20 3805 4822
PR) +44 (0)7734 956 201
Stephen Malthouse +44 (0)77 9195 8922
Rob Walker
Charlie Twigg
future@headlandconsultancy.com
-------------------------
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