Release of Special Reserve

RNS Number : 5394X

Volex Group PLC

08 December 2010

 



Immediate Release

8 December 2010

Volex Group plc

Release of Special Reserve

Volex Group plc announces that, following the approval of its shareholders at a general meeting held on 1 October 2010, the Company has been granted a court order releasing it from its undertaking to maintain a special reserve created in connection with the capital reduction carried out by the Company on 18 October 2005.

The effect of this release is to reduce the accumulated losses in the Company's profit & loss account by the value of the special reserve. As of the end of the previous financial year, 4 April 2010, the balance on the special reserve was £18,125,000 and the accumulated losses on the profit & loss account were £25,766,000. This accelerates the point in time at which the Company would be able to declare and pay a dividend.

End

For further information please contact:

Volex Group plc                                                                                                                               [phone]

Ray Walsh, Group Chief Executive

Andrew Cherry, Group Finance Director

Buchanan Communications                                                                                                       [phone]

Charles Ryland

Jeremy Garcia

 

END

 

 

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