Todays Event13 Jun 2025 17:17
From Helen
Please see note 5 of the Circular for more detail. The figure is a large number (over £1bn per page 226 of the Annual Report)) due to the high level of historic issuances of ordinary shares. It is non-distributable reserves ie not cash – and therefor doesn’t release a sum of money to the company. Reducing the share premium amount (which offset distributable reserves) will increase the net amount of distributable reserves available in the future – for share awards, loan waivers, dividends etc but the company still would want to be free cash flow positive on a sustainable basis to consider paying dividends in the future per previous guidance.
Regards
Helen