Ingenta PLC Notice of GM and Proposed Capital Reduction (9806C)
January 26 2018 - 2:01AM
UK Regulatory
TIDMING
RNS Number : 9806C
Ingenta PLC
26 January 2018
26 January 2018
INGENTA PLC
("Ingenta" or the "Company")
Posting of Circular and Notice of General Meeting for Proposed
Capital Reduction
Ingenta plc (AIM: ING), a leading provider of world-class
software and services to the global publishing industry, announces
that it will today post to shareholders a circular (the "Circular")
in connection with a proposed capital reduction of the Company's
share premium account (the "Capital Reduction"), including a notice
of a General Meeting to be held at 10:30 a.m. on 19 February 2018
for the purpose of approving the Capital Reduction by means of a
special resolution of Shareholders ("Resolution").
The Resolution being proposed, as set out in the notice of
General Meeting, seeks to cancel Ingenta's share premium account,
with a view to creating additional distributable reserves. While
the Company is not making a specific proposal, nor has any decision
been taken as to the use of any such distributable reserves, this
will have the effect of increasing Ingenta's flexibility to pay
dividends, to facilitate any prospective buyback of shares or to
provide flexibility for any other matter requiring the distribution
of the Company's distributable reserves, subject to the financial
performance of the Company.
The proposal is conditional upon both the passing of the
Resolution and Court approval being obtained. Following the
implementation of the Capital Reduction, there will be no change to
the nominal value of the ordinary shares nor to the number of the
Company's ordinary shares in issue. No new share certificates will
be issued as a result of the Capital Reduction.
The Circular and notice of General Meeting will shortly be made
available on the Company's website at www.ingenta.com.
For further information please contact:
David Montgomery
Jon Sheffield
Ingenta plc, Tel: 01865 397 800
Nicholas Wells
Elizabeth Bowman
Cenkos Securities plc, Tel: 0207 397 8900
EXPECTED TIMETABLE OF PRINCIPAL EVENTS
Publication of the Circular 26 January 2018
Latest time and date for receipt 10:30 a.m. on
of Form of Proxy for General 16 February 2018
Meeting
General Meeting 10:30 a.m. on
19 February 2018
Court hearing to confirm the 27 March 2018
Capital Reduction
Registration of Court Order 28 March 2018
and effective date of the
Capital Reduction
Notes:
1. The expected dates for the confirmation of the Capital
Reduction by the Court and the Capital Reduction becoming effective
are based on provisional dates that have been obtained for the
required Court hearings of the Company's application. These
provisional hearing dates are subject to change and dependent on
the Court's timetable.
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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