Last checked at 13 Jul 2017 09:24
13 July 2017
Global Ports Holding PLC ("GPH")
Reduction of Capital
Global Ports Holding PLC ("GPH") announces that the reduction of capital and cancellation of the share premium account described in the prospectus issued by GPH on 2 May 2017 (the "Reduction of Capital") has been approved by the High Court of Justice of England and Wales (the "Court") on 12 July 2017.
The Court Order approving the Reduction of Capital has been registered with the Registrar of Companies on 12 July 2017 and accordingly the Reduction of Capital has become effective. The nominal value of each of the ordinary shares in the capital of GPH (the "GPH Shares") has been reduced from £5.00 to £0.01, whereas the total equity of GPH remains unchanged, and the Reduction of Capital has created distributable reserves of approximately £332.3 million for GPH.
The Reduction of Capital is a legal and accounting adjustment and is not expected to have any direct impact on the market value of the GPH Shares.
For further information, please contact:
Global Ports Holding PLC
Asli Su Ata, Head of Investor Relations
Ismail Ozer, Investor Relations Analyst
Telephone: +90 212 244 60 00
Email: investor@globalportsholding.com
Barclays Bank PLC
Phil Shelley
+ 44 (0) 20 3134 1475
Stuart Jempson
+ 44 (0) 20 7773 2088
Shore Capital
Dru Danford
Patrick Castle
Connor Williams
+44 (0) 20 7408 4090