5 May 2016 09:56
Real Good Food plc
("the Company" or "Real Good Food")
Capital Cancellation
The Company is pleased to announce that the High Court has approved the cancellation of the balance standing to the credit of the Company's share premium account (the "Capital Cancellation"). As a consequence of the Capital Cancellation £71,271,555.22 standing to the credit of the Company's share premium account was cancelled. This will facilitate any share buyback or payment of dividends that the Board of the Company may in the future recommend by creating a reserve of an equivalent amount that, subject to certain creditor protection undertakings, will form part of a distributable reserve.
The Capital Cancellation has no effect on the overall net asset position of the Company.
The Capital Cancellation proposals were contained in the Company's shareholder circular dated 29 February 2016 and approved by shareholders at the Company's General Meeting on 24 March 2016.
-ENDS-
Enquiries:
Real Good Food plc | Tel: 020 3857 3900 |
Pieter Totté, Executive Chairman | |
David Newman, Finance Director | |
Andrew Brown, Marketing Director | |
finnCap Limited (Nomad and Joint Broker) | Tel: 020 7220 0500 |
Matt Goode | |
Grant Bergman | |
Daniel Stewart and Company Plc (Joint Broker) | Tel: 020 7776 6550 |
Martin Lampshire | |
Belvedere Communications (PR) | Tel: 020 3567 0510 |
John West | |
Kim van Beeck |