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LONDON (Alliance News) - SDCL Energy Efficiency Income Trust PLC on Tuesday said it has cancelled its share premium account.
The energy efficiency sector investor announced its plan to cancel the share premium account, so that it could increase its reserves for share buybacks and dividends, in late November. Court approval for this decision was required.
Also in November, the company resolved to cancel the outstanding redeemable preference shares that were issued when it was incorporated.
Court approval having been granted, SDCL Energy Efficiency said, "both the cancellation of the share premium account and the cancellation of the redeemable preference shares have now become effective".
Shares in SDCL Energy Efficiency were up 0.6% at 102.59 pence on Tuesday afternoon.