J2C PLC
8 November 2001
8 November 2001
Court approval of capital reduction
J2C plc ('the Company') announces that, following shareholder approval at an
EGM on 15 October 2001, Court approval for the capital reduction was granted
on 7 November 2001.
The capital reduction will become effective on the date on which the order of
the Court is registered by the Registrar of Companies, which will also be the
record date for entitlement to participate in the return of capital. This is
expected to take place on or before 14 November 2001. It is anticipated that
posting of cheques and crediting of CREST accounts in respect of sums due as a
result of the capital reduction will be effected within seven days thereafter.
The Company has applied today for its shares to cease being traded on AIM and
it is expected that trading will cease on 21 November 2001. Following the
payment under the capital reduction, it will be proposed to shareholders that
the Company be placed in liquidation.
Accordingly, the Company announces the resignation, with effect from 7
November 2001, of Karl Watkin, Chief Executive and Luke Johnson and Alan
Donnelly, both non-executive directors. The continuing directors are Sir Michael
Bett and Alan Davidson.
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Enquiries:
J2C plc
Alan Davidson 0191 226 3506
Brunswick Group Ltd
Gavin Partington 020 7404 5959
Corinne Daniels 020 7404 5959