Cancellation of Share Premium Account

RNS Number : 5346Z

Dunedin Enterprise Inv Trust PLC

16 March 2012

 



16 March 2012

DUNEDIN ENTERPRISE INVESTMENT trust plc

cancellation of share premium account

At the general meeting of the Company held on 28 November 2011 a resolution was passed approving the cancellation of the amount standing to the credit of the Company's share premium account as at 28 November 2011 subject to the Court of Session (the "Court") confirming the cancellation.

The Directors are pleased to announce that the Court has now confirmed this cancellation and the Court's order has been registered by the Registrar of Companies.  The cancellation has now become effective and an amount of £47.6 million has been transferred from the Company's share premium account to its special reserve account.  This amount can be treated as a distributable reserve for all purposes permitted by the Companies Act 2006 (as amended), and will maximise the extent to which the Company's new distribution policy, announced on 1 November 2011, can be implemented.

Enquiries

Shaun Middleton/Graeme Murray

Dunedin Capital Partners Limited

T: 0131 225 6699

 

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