Future PLC Posting of Circular and Notice of General Meeting (3285P)
May 29 2018 - 2:01AM
UK Regulatory
TIDMFUTR
RNS Number : 3285P
Future PLC
29 May 2018
TUESDAY 29 MAY 2018
Future plc ("Future" or the "Company")
Posting of Circular and Notice of General Meeting for Proposed
Capital Reduction
Future announces that it is today posting a circular (the
"Circular") to shareholders in connection with a proposed capital
reduction of the Company's share premium account, including notice
of a general meeting to be held at 2.00 p.m. on 14 June 2018 for
the purpose of approving the capital reduction.
The Company is proposing to undertake a reduction of capital
approved by the Court to create additional distributable reserves.
The proposal achieves this by cancelling the balance standing to
the credit of the share premium account of the Company. The Capital
Reduction, if approved by Shareholders and confirmed by the Court,
is expected to increase the distributable reserves of the Company
by approximately GBP47,385,898.
If the Resolution is passed at the General Meeting, the Company
intends to apply to the Court for confirmation of the Capital
Reduction. The Capital Reduction will only become effective if the
Resolution is passed by Shareholders at the General Meeting, the
Court confirms the Capital Reduction and the order of the Court
confirming the Capital Reduction is delivered to, and registered
by, the Registrar of Companies in England and Wales.
The Capital Reduction is a means of avoiding a potential
restriction on the Company's ability to make dividend payments and
other distributions in the future. Shareholders should note that
the Capital Reduction itself will not involve any distribution or
repayment of share premium by the Company and will not reduce the
net assets of the Company. The Capital Reduction will not change
the number of Ordinary Shares in issue or the paid up share capital
of the Company or change any rights attaching to the Ordinary
Shares.
The circular and notice of general meeting will shortly be made
available on the Company's website, www.futureplc.com.
EXPECTED TIMETABLE OF PRINCIPAL EVENTS
Publication of the Circular 29 May 2018
---------------------------------- --------------------
Latest time and date for receipt 2.00 p.m. on 12 June
of Form of Proxy for the General 2018
Meeting
---------------------------------- --------------------
General Meeting 2.00 p.m. on 14 June
2018
---------------------------------- --------------------
Notes:
1. The expected dates for the confirmation of the Capital
Reduction by the Court and the Capital Reduction becoming effective
will be announced following the General Meeting.
2. The timetable assumes that there is no adjournment of the
General Meeting. If there is an adjournment, all subsequent dates
are likely to be later than those shown.
3. References to times are to London times unless otherwise
stated.
4. Unless otherwise defined, capitalised terms used in this
announcement have the meanings given to them in the Circular.
29 May 2018
END
Enquiries:
Future 01225 442244
Zillah Byng-Thorne, Chief
Executive Officer
Penny Ladkin-Brand, Chief
Financial Officer
020 7457
Instinctif Partners 2077
Kay Larsen/Chris Birt
Notes to editors
Future is a global platform business for specialist media with
diversified revenue streams.
The Media division is high-growth with three complementary
revenue streams: eCommerce, events and digital advertising. It
operates in a number of sectors including technology, games, music
and home interest markets and has a number of leading brands
including TechRadar, PC Gamer, GamesRadar+, The Photography Show,
Homebuilding & Renovating Show, Generate, MusicRadar and the
Golden Joysticks.
The Magazine division focuses on publishing specialist content,
with 86 publications and over 440 bookazines published per year,
totalling global circulation of over one million. The Magazine
portfolio spans technology, games and entertainment, music,
creative and photography, field sports, knowledge, home interest,
sport and outdoor leisure. Its market-leading titles include
Classic Rock, Total Film, How It Works, Digital Camera,
Homebuilding & Renovating and All About History.
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
CIREAPSSAALPEEF
(END) Dow Jones Newswires
May 29, 2018 02:01 ET (06:01 GMT)
Future (LSE:FUTR)
Historical Stock Chart
From Apr 2024 to May 2024
Future (LSE:FUTR)
Historical Stock Chart
From May 2023 to May 2024