Craven House Capital PLC Reduction in Capital Update (2298K)
December 12 2018 - 3:00AM
UK Regulatory
TIDMCRV
RNS Number : 2298K
Craven House Capital PLC
12 December 2018
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Craven House Capital plc
("Craven House" or the "Company")
Reduction in Capital Update
The Company provides the following update in relation to the
previously announced plans to apply to the High Court to undertake
a Reduction in Capital:
The Court application has taken longer than originally
anticipated and is now at an advanced stage, however the Directors
have determined that it would be beneficial to utilise the current
process to cancel the 155,958,824 deferred shares, made up of
77,979,412 deferred shares of GBP0.09 each in the capital of the
Company with the 77,979,412 deferred shares of GBP0.009 each in the
capital of the Company ("Deferred Shares").
These Deferred Shares are of negligible value to deferred
shareholders and, under the articles of association of the Company,
can be cancelled at any time for no consideration, via a Reduction
in Capital.
A resolution proposing the cancellation of the Deferred Shares
will be put to shareholders at a General Meeting to be held
immediately after the upcoming Annual General Meeting. To ensure
clarity is provided to the Court, the special resolutions
previously passed on 24 August 2018 will be repeated in order for
them to be voted on simultaneously.
The Company will therefore today post a Circular and Notice of
General Meeting ("GM") to shareholders of the Company. The GM will
be held at 10.45am on 4 January 2019, at 60 Cannon St, London, EC4N
6JP.
In the event that the resolutions proposed at the GM are
approved by shareholders, the Court application will be updated and
it is anticipated that the Capital Reduction will be approved by
the Court by the end of January 2019.
Ends
For further information please contact:
Craven House Capital Plc Tel: 0203 286 8130
Mark Pajak
www.Cravenhousecapital.com
SI Capital Tel: 01483 413500
Broker
Nick Emerson
www.sicapital.co.uk
SPARK Advisory Partners Limited Tel: 0203 368 3550
Nominated Adviser
Matt Davis/Mark Brady
www.Sparkadvisorypartners.com
About Craven House Capital:
The Company's Investing Policy is to invest in or acquire a
portfolio of companies, partnerships, joint ventures, businesses or
other assets globally in any geographic jurisdiction. The company
will invest in both developed and developing markets providing long
term patient capital and is often involved in special situations,
restructuring, expansion and turn around investments in crisis and
transitioning economies.
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
UPDEAXAAFSXPFEF
(END) Dow Jones Newswires
December 12, 2018 03:00 ET (08:00 GMT)
Craven House Capital (LSE:CRV)
Historical Stock Chart
From Jun 2024 to Jul 2024
Craven House Capital (LSE:CRV)
Historical Stock Chart
From Jul 2023 to Jul 2024