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9 Jun 2016 16:02
MENHADEN CAPITAL PLC - Reduction of Share Premium AccountMENHADEN CAPITAL PLC - Reduction of Share Premium Account
PR Newswire
London, June 9
Menhaden Capital PLC
Reduction of share premium account
9 June 2016
As stated in the prospectus of Menhaden Capital PLC (the "Company") dated 9 July 2015, in order to enable the Company to make share repurchases out of distributable reserves and in order to increase the distributable reserves available to facilitate the payment of future dividends, the Company had resolved that, conditional upon the Issue and the approval of the Court, the amount standing to the credit of the share premium account of the Company immediately following the Issue be cancelled and transferred to a special distributable reserve. The Company had also resolved to cancel the outstanding Redeemable Preference Shares issued on incorporation.
The Company is pleased to announce that, following the approval of the Court and the subsequent registration of the Court order with the Registrar of Companies on 8 June 2016, both the reduction of the share premium account and the cancellation of the Redeemable Preference Shares has now become effective. Accordingly, the share premium account has been cancelled and the amount of £77,731,150 has been transferred to a special distributable reserve.
Frostrow Capital LLP
Company Secretary
Tel: 0203 709 8734