Petards Group PLC Completion of Capital Reduction (3407J)
2015年12月17日 - 4:00PM
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TIDMPEG
RNS Number : 3407J
Petards Group PLC
17 December 2015
17 December 2015
PETARDS GROUP PLC
('Petards' or the 'Group')
Completion of Capital Reduction
Petards (AIM: PEG), the AIM quoted developer of advanced
security and surveillance systems, is pleased to announce that it
has received approval from the High Court to the reduction of the
Company's share capital (the "Capital Reduction"). The principal
purpose of the Capital Reduction, (details of which were set out in
the Circular to shareholders dated 23 October 2015) is to create
realised profits sufficient to eliminate the accrued deficit on the
Company's profit and loss account.
Following registration of the Court order at Companies House,
the Capital Reduction took effect on 16 December 2015. The Company
has given certain undertakings to the Court in relation to the
reserve arising on the Capital Reduction for the protection of the
Company's creditors at the date on which the Capital Reduction took
effect.
For further information:
Petards Group plc www.petards.com
Raschid Abdullah, Chairman Mb: 07768 905
004
Tel: 0191 420
3000
WH Ireland Limited, Nomad www.wh-ireland.co.uk
and Joint Broker
Mike Coe/Ed Allsopp Tel: 0117 945
3470
Hybridan LLP, Joint Broker www.hybridan.com
Claire Louise Noyce Tel: 020 3764 2341
claire.noyce@hybridan.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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December 17, 2015 02:00 ET (07:00 GMT)
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