Capital Reduction Effective

RNS Number : 7903M

Thruvision Group PLC

01 May 2018

 

1 May 2018

Thruvision Group plc

("Thruvision")

Capital Reduction Effective

Thruvision (AIM: THRU) the specialist provider of people-screening technology to the international security market, announces that the High Court has approved the cancellation of the share premium account and the capital redemption reserve of the Company (the "Capital Reduction"). Following approval by shareholders and the approval of the High Court and the subsequent registration of the Court order with the Registrar of Companies, the Capital Reduction has now become effective. As a consequence of the Capital Reduction the sums of £109,078,000 standing to the credit of the share premium account of the Company and £4,786,000 standing to the credit of the capital redemption reserve of the Company were cancelled thereby creating distributable reserves.

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

Details of the Capital Reduction proposals were contained in the Notice for the General Meeting, dated 12 March 2018, and were approved by shareholders at the Company's General Meeting on 28 March 2018.

For further information please contact:

Thruvision Group plc                                                  [phone]

Tom Black, Executive Chairman

Colin Evans, Managing Director

Investec Bank plc                                                        [phone]

Andrew Pinder / Sebastian Lawrence / Patrick Robb

FTI Consulting LLP                                                      [phone]

Matt Dixon / Harry Staight

About Thruvision

Thruvision Group plc is a specialist provider of people-screening technology that can detect weapons, explosives and contraband hidden under clothing. Developed with extensive support from the British and US Governments, Thruvision technology is operationally proven and is being used to enhance the security of transport hubs, borders, high profile buildings and public areas.

www.thruvision.com 

 

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