Completion of Capital Reorganisation

RNS Number : 8074D

Touchstar PLC

11 July 2016

 

11 July 2016

Touchstar plc

Completion of Capital Reorganisation

The Board of Touchstar plc ((AIM:TST) 'Touchstar', the 'Company' or 'the Group'), specialists in real time data capture and mobile computing solutions for the retail, logistics and transportation sector is pleased to announce that it has received approval from the Scottish Court to the reduction of the Company's share capital (the "Capital Reduction").  The principal purpose of the Capital Reduction, (details of which were set out in the Circular to shareholders dated 28 April 2016) is to create realised profits sufficient to eliminate the accrued deficit on the Company's profit and loss account.

Following registration of the Court order at Companies House, the Capital Reduction took effect on 1 July 2016.  The Company has given certain undertakings to the Court in relation to the reserve arising on the Capital Reduction for the protection of the Company's creditors at the date on which the Capital Reduction took effect.

For further information please contact:

Touchstar plc	Ian Martin Mark Hardy	01274 741860 01274 741860
WH Ireland - Nominated Adviser	Mike Coe/Ed Allsopp	0117 945 3472
WH Ireland - Investor Relations	Jessica Metcalf	0113 394 6623

Information on Touchstar plc can be seen at: www.touchstarplc.com

 

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