Last checked at 15 Mar 2017 11:23
For Immediate Release | 15 March 2017 |
ZYTRONIC PLC
Confirmation of Capital Reduction
Zytronic plc (AIM: ZYT), a leading specialist manufacturer of touch sensor componentry, announces that on 15 March 2017 the Court granted an order approving the reduction of the Company's non-distributable reserves account (the "Capital Reduction"), as approved by shareholders on 16 February 2017.
The Capital Reduction will be effective once the order has been filed with the Registrar of Companies and the Company intends to file this order shortly. A further announcement will be made when the Capital Reduction becomes effective.
The purpose of the Capital Reduction is to create additional distributable reserves which will provide the Company with further flexibility in relation to the payment of future dividends. Following the implementation of the Capital Reduction, there will be no change in the number of Ordinary Shares in issue; furthermore there is no immediate plan to return capital to Shareholders, whether by way of any additional dividend, a share buy back or otherwise. Further details of the Capital Reduction can be found in the circular dated 5 January 2017 which is available free of charge from the Company's website:
http://www.zytronicplc.com/wp-content/uploads/sites/5/2017/01/Zytronic-plc-Circular-to-Shareholders-2017.pdf
Contacts:
Zytronic plc | 0191 414 5511 |
Mark Cambridge, Chief Executive | |
Claire Smith, Group Finance Director | |
N+1 Singer (Nominated Adviser & Broker) | 020 7496 3000 |
Aubrey Powell / Liz Yong |