Capital Cancellation

RNS Number : 3471X

Real Good Food PLC

05 May 2016

 

Real Good Food plc

("the Company" or "Real Good Food")

Capital Cancellation

The Company is pleased to announce that the High Court has approved the cancellation of the balance standing to the credit of the Company's share premium account (the "Capital Cancellation"). As a consequence of the Capital Cancellation £71,271,555.22 standing to the credit of the Company's share premium account was cancelled. This will facilitate any share buyback or payment of dividends that the Board of the Company may in the future recommend by creating a reserve of an equivalent amount that, subject to certain creditor protection undertakings, will form part of a distributable reserve.

The Capital Cancellation has no effect on the overall net asset position of the Company.

The Capital Cancellation proposals were contained in the Company's shareholder circular dated 29 February 2016 and approved by shareholders at the Company's General Meeting on 24 March 2016. 

-ENDS-

Enquiries: 

Real Good Food plc	Tel: [phone]
Pieter Totté, Executive Chairman
David Newman, Finance Director
Andrew Brown, Marketing Director
finnCap Limited (Nomad and Joint Broker)	Tel: [phone]
Matt Goode
Grant Bergman
Daniel Stewart and Company Plc (Joint Broker)	Tel: [phone]
Martin Lampshire
Belvedere Communications (PR)	Tel: [phone]
John West
Kim van Beeck

 

END

 

 

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