9 Nov 2022 07:00
09 November 2022
Seraphine Group plc
('Seraphine' or 'the Group' or 'the Company')
Capital Reduction Effective
Seraphine(LON:BUMP), an international digitally-led maternity and nursing wear brand, is pleased to announce that following the passing of a special resolution of the Company at its annual general meeting on 21 September 2022, the High Court of Justice in England and Wales formally approved the reduction of the Company's share premium account (the "Capital Reduction") at a hearing held on 25 October 2022. The Court order confirming the Capital Reduction and a statement of capital approved by the Court were registered with the Registrar of Companies on 8 November 2022 and accordingly the Capital Reduction is now effective.
The Capital Reduction creates additional distributable reserves to the value of £40,000,000, which is intended to support the payment of future dividends to shareholders, with any payment being subject always to the financial performance of the Company and relevant law. The Company does not intend to change its dividend policy following the Capital Reduction and the creation of distributable reserves.
The Capital Reduction did not change the number of the Company's ordinary shares in issue or their nominal value of £0.01 each.
For further information please contact:
Seraphine Group plc:
David Williams (CEO) via Buchanan Communications
Lee Williams (CFO) via Buchanan Communications
Bridget Green (Company Secretary) via Buchanan Communications
Buchanan Communications
General: seraphine@buchanan.uk.com or (0)20 7466 5000
Helen Tarbet
Simon Compton
Notes for editors
About Seraphine
Seraphine is an international digitally-led maternity and nursing wear brand with a diverse range of innovative maternity and nursing products serving an under-competed global market.
Seraphine was founded in 2002 with the vision of creating desirable clothes which women would want to wear even if they were not pregnant, and this ethos remains true to this day. The Group has over 18 years' experience designing and developing maternity and nursing wear for women from first trimester to post-partum and nursing products.
The Group has achieved global brand recognition through its rapidly growing digital platform, which in the year to 4 April 2021, contributed to approximately 89% of revenue. The Group currently exports products to customers in over 120 countries globally, with the Group's largest markets being Europe, North America and the UK.
Seraphine is listed on the Main Market of the London Stock Exchange.
For more information, please visit our website at https://www.seraphinegroupplc.com/
ENDS