Oxford Pharmascience Group PLC Confirmation of Capital Reductions (8390Z)

TIDMOXP

RNS Number : 8390Z

Oxford Pharmascience Group PLC

19 December 2017

Oxford Pharmascience Group plc

("Oxford Pharmascience" or the "Company")

Confirmation of Capital Reductions

Unless otherwise indicated, capitalised terms in this announcement have the meaning given to them in the definitions appearing in the circular issued by the Company on 10 November 2017.

Oxford Pharmascience Group plc (AIM: OXP) announces that the Capital Reductions (as described in the circular to shareholders published on 10 November 2017) were approved by the High Court of Justice of England and Wales (the "Court") on 13 December 2017. The Court order approving the Capital Reductions has now been registered with the Registrar of Companies and accordingly the Capital Reductions have become effective.

The share capital of the Company was reduced by cancelling and extinguishing all of the Participating Deferred Shares of GBP0.00099 each and cancelling and extinguishing the entire amount of the Company's share premium account. The Capital Reductions are a legal and accounting adjustment and are not expected to have any direct impact on the market value of the Ordinary Shares.

Following the Capital Reductions, the number of Ordinary Shares in issue remains unchanged, i.e. there are 1,205,661,619 Ordinary Shares of GBP0.00001 each. The Ordinary Shares will remain the same in all respects and continue to be admitted to trading on AIM in the same way as prior to the Capital Reductions . Existing share certificates remain valid following the Capital Reductions and no new certificates will be issued. The ISIN for Ordinary Shares remains unchanged.

The total voting rights in the Company remain unchanged, with 1,205,661,619 Ordinary Shares in issue. This figure may be used by Shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

A further announcement will be made on completion of the Demerger.

For further information please contact:

 
 Oxford Pharmascience Group 
  Plc 
-----------------------------  ----------------- 
 Chris Hill, Chief Financial 
  Officer                       [phone] 
-----------------------------  ----------------- 
 
 N+1 Singer (Nominated 
  Adviser & Broker) 
-----------------------------  ----------------- 
 Aubrey Powell/Jen Boorer       [phone] 
-----------------------------  ----------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCLLFSEFDLALID

(END) Dow Jones Newswires

December 19, 2017 10:50 ET (15:50 GMT)