Primorus Investments PLC Capital Reduction - Replacement (3507O)
07 Octubre 2021 - 4:07AM
UK Regulatory
TIDMPRIM
RNS Number : 3507O
Primorus Investments PLC
07 October 2021
The following amendment has been made to the 'Capital Reduction'
announcement released on 7 October 2021 at 8.11am under RNS No
3393O.
The announcement should have stated that the General Meeting was
held on 8 September 2021 instead of 8 September 2001 as previously
reported.
All other details remain unchanged.
The full amended text is shown below.
Primorus Investments PLC
Capital Reduction
Primorus Investments PLC (the "Company"), the AIM listed
investment company, is pleased to announce that the reduction of
share capital of the Company pursuant to section 648 of the
Companies Act 2006, comprised of the cancellation of all deferred
shares in the capital of the Company and the cancellation of the
Company's share premium account as at 31 December 2020 (together,
the "Capital Reduction"), as approved by shareholders at the
General Meeting on 8 September 2021, was sanctioned by the High
Court of England and Wales (the "High Court").
The effect of the Capital Reduction is to create distributable
reserves.
The order of the High Court confirming the Capital Reduction,
and the statement of capital approved by the High Court in
connection therewith, were delivered to the Registrar of Companies
today. The Capital Reduction will become effective upon the
registration of the High Court order by the Registrar of Companies,
which is expected to take place shortly.
The Company confirms that, following the Capital Reduction, the
issued share capital of the Company remains at 139,830,968 ordinary
shares of 0.2 pence each. The total number of voting rights in the
Company also remains at 139,830,968.
Rupert Labrum, Executive Chairman, stated : "I am delighted with
the outcome of the Capital Reduction process. The result has
changed the retained deficit on the Company's balance sheet of
GBP41m into an GBP8.5m surplus. The Board looks forward to
continuing with its efforts to position the Company as strongly as
possible. We are excited by the Company's prospects and believe
that its restructured balance sheet will only facilitate our future
endeavours."
For further information, please contact:
Primorus Investments plc +44 (0)20 8154 7909
Matthew Beardmore, Chief Executive Officer
Nominated Adviser and Broker
Cairn Financial Advisers LLP +44 (0)20 7213 0880
Sandy Jamieson / James Caithie
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END
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