RTC Group PLC Capital Reduction (6549W)

TIDMRTC

RNS Number : 6549W

RTC Group PLC

10 November 2014

RTC Group plc

("RTC" or the "Company")

Capital Reduction

RTC Group plc, the business services organisation focussing on white and blue collar recruitment providing temporary, permanent and contingent staff to a broad range of industries and clients in both domestic and international markets, announces that, following the approval of shareholders at the Company's Annual General Meeting on 21 May 2014 of the cancellation of the share premium account ("Capital Reduction"), the initial Court directions hearing took place on 5 November 2014 and the final Court Hearing to approve the cancellation is scheduled to take place on 19 November 2014. If approved, the Capital Reduction is then expected to become

effective   upon the necessary registration of the Court Order at Companies House.

The Company proposed the Capital Reduction in order to increase the distributable reserves of the Company in order to be able to increase the dividend capacity in the future if deemed appropriate. Under the Capital Reduction it is proposed that the amount standing to the credit of the Company's share premium account (such amount currently being GBP2,467,915.50) is cancelled and that the resulting sum of GBP2,467,915.50 be credited to the distributable reserves of the Company.

Enquiries:

 
 RTC Group plc                                    Tel: 01332 861844 
  Bill Douie, Executive Chairman 
  Andy Pendlebury, CEO 
  Sarah Dye, Group Finance Director 
 
 Allenby Capital Limited (Nominated Adviser and   Tel 020 3328 
  Broker)                                          5656 
  Jeremy Porter

This information is provided by RNS

The company news service from the London Stock Exchange

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