At a hearing today, the Companies Court of the Chancery Division of the High Courts of Justice approved the reduction of capital of the Company (the "Reduction of Capital"), details of which were contained in the circular to shareholders dated 4 May 2012 (the "Circular").
The Reduction of Capital is expected to become effective tomorrow, 28 June 2012, in order to effect the return of cash to shareholders as explained in the Circular.
The despatch of cheques and credit to CREST accounts in respect of the return of capital described in the Circular is expected to take place on or around 5 July 2012.
21st Century Technology plc (AIM: C21), a leading supplier of public transport CCTV and other monitoring systems, was admitted to trading on AIM, a market operated by the London Stock Exchange, in 2005.
21st Century is the preferred supplier of on-board CCTV systems for Arriva UK Bus, the Go-Ahead Group, FirstGroup UK Bus and Keolis Sverige AB in Stockholm.
The Company has pioneered the use of WiFi with on-board CCTV systems and Transport for London commissioned the Company to undertake a trial of 'LiveView' - a system which transmits live CCTV pictures from on board the bus to a public transport and police control centre. 21st Century was also the first company to successfully launch Automatic Video Downloads and a bus CCTV monitoring system (HeartbeatTM) which allow the CCTV manager to remotely download CCTV footage from the bus to his computer and check that all the CCTV systems fitted to his buses are fully operational, without leaving his desk. The company's passenger counting systems utilise active infrared sensors at every exit/entry point or overhead cameras linked to the ticket machine to enable bus operators to analyse specific bus route ticket sales and passenger numbers.
21st Century's EcoManager product has made a significant contribution to sales since its launch in July 2008. The EcoManager black-box system is aimed at reducing fuel and maintenance costs, reducing emissions and improving safety for bus operators by monitoring individual driving styles. Following a successful trial in 2009, Arriva UK committed to install the device on all their new buses and to retrofit a large proportion of their existing fleet. Later that year Arriva North West and Merseytravel won the industry recognised Alexander Dennis Award for Innovation following their installation of the EcoManager system which yielded fuel savings of up to 12%, associated CO2 emission reductions and a 62% reduction in accidents. This was followed in 2010 with a driver safety award for EcoManager presented by the road safety charity, Brake and in 2011; Arriva Wirral was presented with the Environmental Award by Wirral Investment Network in recognition of the environmental benefits achieved by the company as a result of the installation of EcoManager to its fleet of buses. For further information go to www.getecomanager.com.
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