21 Dec 2018 14:03
21 December 2018
WEY EDUCATION PLC
("Wey Education" or the "Company")
Capital Reconstruction
Wey Education (AIM: WEY), the online educational services group, is pleased to announce that it has received approval from the High Court for the reconstruction of the Company's share capital (the "Capital Reconstruction"). The principal purpose of the Capital Reconstruction, (which was approved by shareholders at a General Meeting on 24 September 2018) is to create a positive profit and loss reserve which will, at the Board's discretion, allow dividends to be paid at such future date may be appropriate. .
Following the registration of the Court order at Companies House, the Capital Reconstruction took effect on 21 December 2018. The Company has given certain undertakings to the Court in relation to the protection of the Company's creditors on the date which the Capital Reconstruction took effect.
Enquiries:
Wey Education Plc
Barrie Whipp (Interim Chairman) +44 (0) 7778367999
Barry Nichols-Grey (Executive Director - Finance) +44 (0) 1873 813900
WH Ireland Limited
(Nominated Advisor and Broker)
Mike Coe/ Chris Savidge (Corporate Finance) +44 (0) 117 945 3470