High Court Approval
February 06 2008 - 6:53AM
UK Regulatory
RNS Number:4188N
Tangent Communications PLC
06 February 2008
Date: 6 February 2008
On behalf of: Tangent Communications plc ('Tangent' or the 'Company')
Tangent Communications plc (AIM: TNG)
Distributable profits of the Company
Tangent Communications plc, the digital direct marketing business, is pleased to
announce that it now has distributable profits from which dividends may be
declared. As announced in the Company's interim results on 7 November 2007, the
board believes that paying a dividend is an important part in providing total
shareholder return.
The High Court of Justice today confirmed the reduction of capital which Tangent
shareholders approved at a general meeting on 17 January 2008. Tangent's Profit
and Loss Account has consequently increased by �20.6 million and Tangent's Share
Premium Account and Merger Reserve have, in aggregate, reduced by the same
amount. Net assets of the Company are not affected.
Further enquiries:
Graeme Harris (Finance Director) 020 7553 6600
Collins Stewart (Nominated Adviser)
Seema Paterson, Stewart Wallace 020 7523 8350
About the Company:
Tangent Communications creates online and offline marketing systems to deliver
customised data-driven marketing material for companies including SAP, Lane Fox,
Greene King and Gala Coral Group. The Company employs 160 people across three
locations, London, Newcastle and Cheltenham and is admitted to trading on AIM
(AIM : TNG)
This information is provided by RNS
The company news service from the London Stock Exchange
END
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