Share Capital Reduction
Source: RNS
23 February 2022
Logistics Development Group plc
("LDG" or the "Company")
Share Capital Reduction
LDG is pleased to announce that the cancellation of its share premium account (the "Capital Reduction"), which was approved by shareholders on 31 January 2022, was sanctioned by the High Court of England and Wales on 22 February 2022. The order of the High Court confirming the Capital Reduction, and the statement of capital approved by the High Court in connection therewith, were delivered to the Registrar of Companies today. The Capital Reduction will become effective upon the registration of the Court order by the Registrar of Companies, which is expected to take place shortly. The purpose of the Capital Reduction is to finance the on-market buyback of the Company's shares and also facilitate any future payments of dividends and other returns of cash to shareholders by creating distributable reserves.
The Capital Reduction did not change the number of the Company's ordinary shares in issue or their nominal value of £0.01 each. The total number of voting rights in the Company remains at 702,205,900.
For enquiries:
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Logistics Development Group plc |
Via FTI Consulting |
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FTI Consulting Nick Hasell Alex Le May Cally Billimore |
+44 (0) 20 3727 1340 |
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Strand Hanson Limited (Financial and Nominated Adviser) James Spinney James Dance Abigail Wennington
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+44 (0) 20 7409 3494 |
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Investec Bank plc (Broker) Gary Clarence Harry Hargreaves |
+44 (0) 20 7597 5970 |
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