Optimism8 Oct 2016 18:21
5. Other Reserve
The Capital Reduction that took place during December 2014 resulted in the creation of a non-distributable reserve. The condition for this reserve to become distributable is for the outstanding creditors in December 2014 to be settled. At the date of approval of these accounts there are some £1.6 million of these creditors outstanding. The Board of Directors consider that these amounts will be settled in the short term and therefore the £45 million remains within the Other Reserve, which is non-distributable until these settlements have occurred.
I take two things from this, one is the reference to the short term, bearing in mind the accounts are to the end of June, and secondly, the company could be looking to pay out a dividend.
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Must admit this is why I have been getting excited here .
Perhaps this is the arbitration money and it is tied up , until such time as all debts are cleared .
Not entirely beyond the realms that such a clause was hidden in the agenda.
If so ,we could be in for a nice upside ride.
And May