Re. Share Premium Account

1 Mar 2006 16:11

Cheerful Scout PLC01 March 2006 CHEERFUL SCOUT PLC "Cheerful Scout" or ("the Company") Update on cancellation of share premium account The Company is pleased to announce the cancellation of the Company's sharepremium account following an order made by the High Court of Justice (ChanceryDivision) on 15 February 2006. The cancellation is designed to restructure theCompany's balance sheet in order to facilitate the future payment of dividendsby the Company to shareholders, at the Company's discretion. * * ENDS * * Issued on behalf of Cheerful Scout Plc, 25/27 Riding House Street, London by StBrides Media & Finance Ltd, 46 Bedford Row, London WC1R 4LR.Contacts:Gary Fitzpatrick Cheerful Tel: 020 7291 0444Hugo de Salis St Brides Media Tel: 020 7242 4477 This information is provided by RNS The company news service from the London Stock Exchange