Frp Advisory Group Regulatory News (FRP)

12 Oct 2007 12:04

Debt Free Direct Group PLC12 October 2007 12 October 2007 DEBT FREE DIRECT GROUP PLC ("Debt Free Direct" or "the Company") Capital Reduction On 24 August 2007, Debt Free Direct announced that shareholders in the Companyhad approved at an Extraordinary General Meeting on that date the proposedcancellation of the Company's Share Premium Account. The Board of the Companynow announces that the Court confirmed the cancellation of the Company's SharePremium Account on 10 October 2007 and that the Cancellation became effective on11 October 2007. Enquiries: Debt Free Direct Group plcAndrew Redmond, Chief Executive Officer 0845 296 0100Paul Latham, Finance Director 0845 296 0200 Numis SecuritiesLee AstonChris Wilkinson 020 7260 1000 Financial DynamicsEd Gascoigne-Pees 020 7269 7132Nick Henderson 020 7269 7114 Notes Debt Free Direct helps individuals find the best solution to their debtproblems, based upon an analysis of their particular financial circumstances.Financial information on an individual is processed through a computer model(the Best Advice Model) developed by Debt Free Direct in order to recommend asolution suitable for that individual's particular financial circumstances. Thesolutions offered range from basic advice, such as simply destroying creditcards and curbing unnecessary expenditure, to the following solutions: • consolidation loan• re-mortgage• informal arrangement• individual voluntary arrangement (IVA)• bankruptcy Debt Free Direct is unique in the marketplace in that, unlike most of itscompetitors who sell specific products, Debt Free Direct looks to provide thebest advice to the consumer and recommends them the most appropriate service. Debt Free Direct is based in Chorley, Lancashire, and was admitted to AIM inDecember 2002. This information is provided by RNS The company news service from the London Stock Exchange