Touchstar PLC Capital Reduction (4299X)

TIDMTST

RNS Number : 4299X

Touchstar PLC

26 April 2023

Touchstar plc

(the "Company", "Touchstar" or the "Group")

Capital Reduction

Touchstar plc (AIM: TST), suppliers of mobile data computing solutions and managed services to a variety of industrial sectors, is pleased to announce that the reduction of capital involving the reduction of the share premium account of the Company by GBP1,118,774 (the "Capital Reduction"), was confirmed by the court in Scotland ("Court") on 19 April 2023. This positive development now gives the Company the ability to consider returning value to shareholders, either by via payment of a dividend or via share buybacks.

The Court order confirming the Capital Reduction, and a statement of capital approved by the Court, will now be registered by the Registrar of Companies in Scotland and following their registration at Companies House, the Capital Reduction process will be complete.

Full details of the Capital Reduction were set out in the notice of the 2022 annual general meeting dated 26 May 2022 which is available for inspection on the Company's website.

Touchstar's intention is to update shareholders further after the AGM of the Company which is scheduled for the 22(nd) May 2023.

For further information, please contact:

 
   Touchstar plc                                  www.touchstarplc.com 
   Ian Martin                                            0161 874 5050 
   Mark Hardy                                            0161 874 5050 
 
 WH Ireland - Nominated Adviser & Broker           www.whirelandcb.com 
  Corporate Finance - Mike Coe/Sarah Mather              020 7220 1666

Information on Touchstar plc can be seen at: www.touchstarplc.com

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