Completion of Capital Reduction

RNS Number : 2442W

CentralNic Group PLC

14 August 2020

 

14 August 2020

CentralNic Group plc

("CentralNic" or "the Company" or "the Group")

Completion of Capital Reduction

CentralNic Group PLC (AIM: CNIC), the internet platform that derives revenue from the worldwide sales of internet domain names and related services, is pleased to announce that the Capital Reduction resolved by its Annual General Meeting on 4 June 2020 has been completed subsequent to its approval by the High Court and its registration by the Companies House effective 14 August 2020.

The Capital Reduction increases the Company's distributable reserves and facilitates making future distributions to its shareholders, including the payment of dividends. The Capital Reduction does not result in any cash outflow nor does it impact the Company's profits. There is no change in the number of shares in issue or their nominal value. No new share certificates are being issued because of the Capital Reduction. The Capital Reduction itself does not involve any distribution or repayment of capital or share premium by the Company and does not reduce the underlying net assets of the Company.

Ben Crawford, CEO of CentralNic, said:  " It is an opportune time to undertake this Capital Reduction, thereby making the payment of dividends possible, should the Board decide at a future date that the financial performance of the Group and the economic environment indicate that issuing a dividend is the most appropriate action to benefit shareholders."

For further information:  

CentralNic Group Plc Ben Crawford, Chief Executive Officer Don Baladasan, Group Managing Director Michael Riedl, Chief Financial Officer	[phone]
Zeus Capital Limited (NOMAD and Joint Broker) Nick Cowles / Jamie Peel (Corporate Finance) John Goold / Rupert Woolfenden   (Institutional Sales)	[phone] [phone]
Stifel (Joint Broker) Fred Walsh / Alex Price	[phone]
Newgate Communications (for Media) Bob Huxford Tom Carnegie Isabelle Smurfit	[phone] [e-mail]

About CentralNic Group plc 

CentralNic (AIM: CNIC) is a London-based AIM-listed company which drives the growth of the global digital economy by developing and managing software platforms allowing businesses globally to buy subscriptions to domain names, used for their own websites and email, as well as for protecting their brands online.  Its core growth strategy is identifying and acquiring cash-generative businesses in its industry with annuity revenue streams and exposure to growth markets and migrating them onto the CentralNic software and operating platforms. 

CentralNic operates globally with customers in almost every country in the world.  It earns recurring revenues from the worldwide sales of internet domain names and other services on an annual subscription basis. 

For more information please visit:  www.centralnicgroup.com  

 

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