Seraphine Group PLC Capital Reduction (7381F)
November 09 2022 - 2:00AM
UK Regulatory
TIDMBUMP
RNS Number : 7381F
Seraphine Group PLC
09 November 2022
09 November 2022
Seraphine Group plc
('Seraphine' or 'the Group' or 'the Company')
Capital Reduction Effective
Seraphine(LON:BUMP), an international digitally-led maternity
and nursing wear brand, is pleased to announce that following the
passing of a special resolution of the Company at its annual
general meeting on 21 September 2022, the High Court of Justice in
England and Wales formally approved the reduction of the Company's
share premium account (the "Capital Reduction") at a hearing held
on 25 October 2022. The Court order confirming the Capital
Reduction and a statement of capital approved by the Court were
registered with the Registrar of Companies on 8 November 2022 and
accordingly the Capital Reduction is now effective.
The Capital Reduction creates additional distributable reserves
to the value of GBP40,000,000, which is intended to support the
payment of future dividends to shareholders, with any payment being
subject always to the financial performance of the Company and
relevant law. The Company does not intend to change its dividend
policy following the Capital Reduction and the creation of
distributable reserves.
The Capital Reduction did not change the number of the Company's
ordinary shares in issue or their nominal value of GBP0.01
each.
For further information please contact:
Seraphine Group plc:
David Williams (CEO) via Buchanan Communications
Lee Williams (CFO) via Buchanan Communications
Bridget Green (Company Secretary) via Buchanan
Communications
Buchanan Communications
General: seraphine@buchanan.uk.com or (0)20 7466 5000
Helen Tarbet
Simon Compton
Notes for editors
About Seraphine
Seraphine is an international digitally-led maternity and
nursing wear brand with a diverse range of innovative maternity and
nursing products serving an under-competed global market.
Seraphine was founded in 2002 with the vision of creating
desirable clothes which women would want to wear even if they were
not pregnant, and this ethos remains true to this day. The Group
has over 18 years' experience designing and developing maternity
and nursing wear for women from first trimester to post-partum and
nursing products.
The Group has achieved global brand recognition through its
rapidly growing digital platform, which in the year to 4 April
2021, contributed to approximately 89% of revenue. The Group
currently exports products to customers in over 120 countries
globally, with the Group's largest markets being Europe, North
America and the UK.
Seraphine is listed on the Main Market of the London Stock
Exchange.
For more information, please visit our website at
https://www.seraphinegroupplc.com/
ENDS
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END
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