Touchstar PLC Completion of Capital Reorganisation (8074D)

TIDMTST

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

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

This information is provided by RNS

The company news service from the London Stock Exchange

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July 11, 2016 07:00 ET (11:00 GMT)