RE: So basically25 Mar 2019 17:40
Can anyone explain this RNS in basic English as to me at present it’s not clear and confusing, thanks in advance.
Acquisition of deferred shares
PCG Entertainment Plc (the "Company" or "PCGE"), announces that in accordance with the resolutions passed at the Extraordinary General Meeting ("EGM") on 15 January 2018, the Company has today acquired all of the Company's outstanding deferred shares of 0.4 pence each for nil consideration.
Under the terms of the issue of the shares and the terms of the Gibraltar Companies Act 2014 these shares are returned to unissued share capital.
The effect of this transaction is that whilst the authorised share capital remains unchanged at £6,000,000 the unissued share capital increases from £1,935,559.49 to a total available of £4,755,511.90. This means that the authorized unissued shares by number increases from 1,935,559,489 to 4,755,511,897.