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28 Jul 2017 07:00
28 July 2017
Premier Asset Management Group PLC
Capital Reduction Process Becomes Effective
Premier Asset Management Group PLC (AIM: PAM) ("Premier" or the "Company") announced details of a capital reduction process on 7 June 2017 (the "Capital Reduction"). Details of the Capital Reduction were set out in a circular sent to shareholders on 7 June 2017, and the proposals were approved at a General Meeting held on 27 June 2017.
At a hearing in the High Court of Justice Chancery Division on 26 July 2017, an order was given to confirm the cancellation of the Company's share premium account.
The order was produced to the Registrar of Companies and was registered on 27 July 2017 making the Capital Reduction process effective.
The Company confirms that following the Capital Reduction, the number of issued shares and their nominal value remains unchanged and the Company expects that its distributable reserves will be in excess of some £50 million. For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules, the total number of ordinary shares of 0.02 pence each of the Company in issue is 105,801,310.
Enquiries:
Premier Asset Management Group PLC | Tel: 01483 306090 Mike O'Shea |
Stifel Nicolaus Europe Ltd trading as KBW (Nomad and Joint Broker) | Tel: 020 7710 7600 Gareth Hunt Stewart Wallace |
Numis Securities Limited (Joint Broker) | Tel: 020 7260 1000 Andrew Holloway Charles Farquhar |
Smithfield Consultants (Financial PR) | Tel: 020 3047 2533 John Kiely Andrew Wilde |
About Premier
Premier is a fast-growing UK retail asset management group with a focus on delivering good investment outcomes for investors through relevant products and active management across its range of investment strategies, which include multi-asset, equity and absolute return funds. Premier had £5.8 billion of assets under management as at 30 June 2017.
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