Completion of Capital Reduction

RNS Number : 2865B

Tyman PLC

05 June 2019

 

TYMAN PLC

("Tyman" or the "Company" )

Completion of Capital Reduction

Tyman plc (LSE: TYMN), a leading international supplier of engineered components to the door and window industry, is pleased to announce that, further to its announcements on 1 April 2019 and 9 May 2019, the Capital Reduction, as approved by shareholders at the Annual General Meeting held on 9 May 2019, was approved yesterday by the Court.  The Court Order confirming the Capital Reduction, and a statement of capital approved by the Court, were then registered with the Registrar of Companies and, accordingly, the Capital Reduction is now effective.

The purpose of the Capital Reduction was to create additional distributable reserves, which will ensure a suitable level of headroom remains for the Company to pay dividends in the future. It has been effected by (i) the capitalisation of certain of the Company's non-distributable reserves by way of an issue of Bonus Shares, and (ii) the subsequent cancellation of the Bonus Shares and of the whole of the balance standing to the credit of the share premium account of the Company. There is no change in the number of the Company's Ordinary Shares in issue or their nominal value as a result of the Capital Reduction, which was described in the Notice of Annual General Meeting sent to Shareholders on 1 April 2019.

Capitalised terms used herein have the same meanings as set out in the Notice of Annual General Meeting, which is available at the Company's website  (www.tymanplc.com).

5 June 2019

Enquiries:

Tyman plc	020 7976 8000
Carolyn Gibson - Group Company Secretary	www.tymanplc.com
MHP Communications	020 3128 8100
Reg Hoare
Guy Featherstone

Notes to editors

Tyman is a leading international supplier of engineered components to the door and window industry.  The Group's three Divisions - AmesburyTruth, ERA and SchlegelGiesse - are market leaders in their respective geographies.

The Group employs over 4,200 people and operates facilities in 18 countries worldwide.

Tyman is listed on the London Stock Exchange under the ticker TYMN.

Further information on the Group and the Group's products are available at the Group's website - www.tymanplc.com.

 

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