Wey Education PLC Capital Reconstruction (3130L)
December 21 2018 - 9:03AM
UK Regulatory
TIDMWEY
RNS Number : 3130L
Wey Education PLC
21 December 2018
21 December 2018
WEY EDUCATION PLC
("Wey Education" or the "Company")
Capital Reconstruction
Wey Education (AIM: WEY), the online educational services group,
is pleased to announce that it has received approval from the High
Court for the reconstruction of the Company's share capital (the
"Capital Reconstruction"). The principal purpose of the Capital
Reconstruction, (which was approved by shareholders at a General
Meeting on 24 September 2018) is to create a positive profit and
loss reserve which will, at the Board's discretion, allow dividends
to be paid at such future date may be appropriate. .
Following the registration of the Court order at Companies
House, the Capital Reconstruction took effect on 21 December 2018.
The Company has given certain undertakings to the Court in relation
to the protection of the Company's creditors on the date which the
Capital Reconstruction took effect.
Enquiries:
Wey Education Plc
Barrie Whipp (Interim Chairman) +44 (0) 7778367999
Barry Nichols-Grey (Executive Director - Finance) +44 (0) 1873 813900
WH Ireland Limited
(Nominated Advisor and Broker)
Mike Coe/ Chris Savidge (Corporate Finance) +44 (0) 117 945 3470
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END
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