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Last checked at 
10 Nov 2014 18:34
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10 November 2014
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RTC Group plc
("RTC" or the "Company")
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Capital Reduction
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RTC Group plc, the business services organisation focussing on white and blue collar recruitment providing temporary, permanent and contingent staff to a broad range of industries and clients in both domestic and international markets, announces that, following the approval of shareholders at the Company's Annual General Meeting on 21 May 2014 of the cancellation of the share premium account ("Capital Reduction"), the initial Court directions hearing took place on 5 November 2014 and the final Court Hearing to approve the cancellation is scheduled to take place on 19 November 2014. If approved, the Capital Reduction is then expected to become effective upon the necessary registration of the Court Order at Companies House.
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The Company proposed the Capital Reduction in order to increase the distributable reserves of the Company in order to be able to increase the dividend capacity in the future if deemed appropriate. Under the Capital Reduction it is proposed that the amount standing to the credit of the Company's share premium account (such amount currently being Β£2,467,915.50) is cancelled and that the resulting sum of Β£2,467,915.50 be credited to the distributable reserves of the Company.
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Enquiries:
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RTC Group plc Bill Douie, Executive Chairman Andy Pendlebury, CEO Sarah Dye, Group Finance Director | Tel: 01332 861844 |
Allenby Capital Limited (Nominated Adviser and Broker) Jeremy Porter Β | Tel 020 3328 5656 |
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