(Alliance News) - Totally PLC said on Tuesday the High Court has confirmed the cancellation of the balance standing to credit of its share premium account.
The healthcare services provider said the decision follows approval by shareholders and the capital reduction has now become effective.
As a consequence, GBP16.4 million has been cancelled, creating attributable reserves, the company said. Totally said the money will allow it to pay dividends or make contributions to its shareholders.
The capital reduction has no effect on the overall net asset position of the company, Totally noted.
Totally shares were up 0.8% in London at 13.74 pence each on Tuesday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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Totally (TLY)