WPP Group PLC
27 October 2005
Announcement that the Reduction of Capital has become Effective
27 October 2005
WPP Group plc
(formerly called WPP 2005 plc)
Reduction of Capital becomes Effective
On 26 October 2005 the High Court sanctioned the proposed reduction of capital
of WPP Group plc (WPP) (formerly called WPP 2005 plc) reducing the nominal value
of each of its ordinary shares (both issued and unissued) by 465p from 475p to
10p (the Reduction). The order of the High Court has today been delivered to
the Registrar of Companies in England and Wales for registration and has been
registered by him. Accordingly, the Reduction has today become effective.
Accordingly the capital of WPP has been reduced from £8,312,550,000 divided into
1,750,000,000 Ordinary Shares of 475p each of which 1,256,650,042 are issued
fully paid or credited as fully paid and 50,000 Redeemable Preference Shares of
£1 each of which 50,000 are issued fully paid or credited as fully paid to
£175,050,000 divided into 1,750,000,000 Ordinary Shares of 10p each and 50,000
Redeemable Preference Shares of £1 each.
The Reduction has created distributable reserves of £5,843,422,695.
Enquiries:
Feona McEwan
Tel: +44 (0)20 7408 2204
Additional information
Unless the context otherwise appears, terms defined in the WPP's scheme circular
dated 31 August 2005 have the same meaning in this announcement.
The directors of WPP accept responsibility for the information contained in this
announcement and, to the best of their knowledge and belief (having taken
reasonable care to ensure that such is the case), the information contained in
this announcement is in accordance with the facts and does not omit anything
likely to affect the import of such information.
Merrill Lynch International, which is authorised and regulated in the UK by the
Financial Services Authority, is acting exclusively for WPP and New WPP in
connection with the Scheme Proposals and for no-one else and will not be
responsible to anyone other than WPP and New WPP for providing the protections
afforded to their respective clients, for the contents of this announcement, or
for providing advice in relation to the Proposals.
This information is provided by RNS
The company news service from the London Stock Exchange
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Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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